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Real-Time Payment a Rapid and Beneficial Payment Solutions

In the world of the payment industry, real-time payment as an instant payment has got a solid foothold. This payment system is getting momentum due to the introduction of new schemes. Advancement in technology is bringing advancement in the real-time payment system.

It is beneficial for almost everyone whether it is a businessman, organization, or an individual who is paying a restaurant bill. Real-time payment is accompanied by many advantages like a quicker, safe, and secure method of payment. It ensures better cash management. Hopefully, real-time payment will revolutionize the payment landscape.

What do we understand by real-time payment?
Real-time is a technology-based system of making payments. It allows immediate transfer of money between banks and the banking system. It is a convenient and faster means of transferring funds. Earlier for the access of the transferred money or fund, at least one business day was required. But the introduction of real-time payment made it possible just in a matter of minutes.

How does real-time payment work?
The real-time payment system is an instant process of transferring funds. It is a 24*7 facility that can be used by anyone at any time. Channels like smartphones, digital wallets, tablets, and the web are some of the common channels. This fund transfer can be initiated through any of these channels. A real-time payment request when made, account to account payment fund can be transferred.

Benefits of real-time payment
Real-time payment reduces the fraud risk.
It improves the relationship between customers and merchants.
There is a minimal cost of payment in a real-time payment system.
Customers get high-value services.
It facilitates the immediate and faster transfer of funds.
Payments can be made 24*7 anytime anyone by anyone.
One can get the status of payment and confirmation via message immediately, just with one click.
Three types of payment done by real-time payment method P2B
Person to business is the common type of payment done by using the real-time payment system. P2B is basically monetary transactions made between customers and businesses. It comprises every non-payroll payment issued to a person to a company. These payments include insurance claims, healthcare reimbursement, loan disbursement, and legal settlement.

P2P
Person to person is a type of online and real-time payment method. In this, customers can transfer money from their account to another person’s account using the internet. Nowadays people find it more convenient to pay bills using real-time payment.

B2B
Business to business payments are the transactions done between one and more merchants. It includes the exchange of currency for goods between businesses. Real-time payment helps businesses to handle all types of transactions.

Who can be the end-users of real-time payment?
The real-time payment system is beneficial for financial institutions, consumers, merchants, and many others. It allows better cash management. Businesses and retail & E-commerce can manage day-to-day operations and raise funds. Various other sectors like BFSI, IT & telecom, travel & tourism, government, healthcare, energy & utility also find this real-time payment helpful. This payment system has a positive impact on their sales and cash flow.

Real-time payment can be deployed from
Cloud: nowadays the cloud-based real-time payment is in demand. This is mainly due to increasing mobile-based payments across the globe. Retailers, as well as customers, prefer to opt for cloud-based real-time payment due to its convenience to use the feature.

On-premise: businesses all over the globe are ready to adopt on-premise real-time payment solutions. Using this type of deployment method, merchants ensure a safe payment system for their customers.

Reasons why real-time payment is gaining attention Technological advancement
From past few decades, various technological advancement has been done. Increased adoption of smartphones in both developing countries and developed economies. Person-to-person payment popped up on daily basis, due to the increasing use of social media platforms. So rapid advancement in technology is leading to increased demand for real-time payment.

Higher expectations of consumers and merchants
Both merchants and consumers want to have an authenticated and fraud-free payment system. Merchants wish to give an increment value to their customers. Small and average businesses need to have a better cash management system. Consumers nowadays expect almost everything in a real-time payment system. They want fewer click to pay bills or transfer money directly to account.

New business models
It is a history that the financial industry can only control the world of payments. As new startups and partnership are in trend which has started introducing newer and better options of payment. Various mobile payment apps have been introduced with advanced features.

The bottom line
The real-time payment Market has been witnessing rapid growth due to increasing preference for instant and secure payment by businesses. Real-time payment is a technology-based payment method. There are three basic types of payments done by using this technology that are P2P, P2B, and B2B.

People find it more advantageous to make out transactions using real-time payments. That is why its adoption is in demand.

How to Plan Your Mobile App Development Strategy?

Let’s consider how to plan your mobile app development strategy.Step 1. Outline the company’s overall strategyIdentify your company’s mission, vision, goals, and targets. It will help you to understand how your app will meet your customers’ and company’s needs.Step 2. Identify your target usersDeveloping a business plan for a mobile app also requires a thorough analysis of your target customers. This analysis should be based on their age, gender, preferences, needs, and pains. For instance, if you want to launch an app for learning new languages, your audience will consist primarily of young people motivated to learn new foreign languages.Step 3. Analyze your competitorsOne of the most important elements in the app development business plan is an effective competitor analysis. Due to the fact that app stores are crowded by numerous applications of similar types.Step 4. Decide on a type of app you want to createChoosing the type of app you need is one of the most significant stages of app development. Keep in mind that native apps support only one platform while hybrid apps can work on several platforms but with limitations on the functional side.Step 5. Decide on development methodologyYou can choose between two methodologies: Agile and Waterfall. If you stick to the Waterfall methodology, you decide on the parameters of app development at the very beginning and develop the app step by step, but it’ll take longer until you’ll see the first prototype of the working app. With Agile methodologies, you can develop several sections of an app simultaneously and introduce changes at any stage of the development process.Step 6. Create an effective marketing strategyLast, but not least, the point in mobile strategy is marketing. If you want to make your app visible, think about the platforms that you want to target, and how you will measure the convergence. For instance, in the case of app development, your tools will include the number of downloads, sales, app analytics, etc.There are a lot of tools that will help you to promote your app. One of them is app store search optimization, which makes your app visible to the users. With the same aim, you can use search ads in app stores. You can also use such a tool as AppMachine, which will help you to advertise your app among your clients. Finally, one of the most effective and powerful tools is social media advertising (Instagram, Facebook, TikTok, etc.).Conclusion:Without an effective and thought-out mobile development strategy, it would be impossible for your business to become visible online. Thus, before you decide to create an app for your business, elaborate a step-by-step strategy that will make the process planned.

Blockchain Scalability Issues and the Solutions Offered by Layer 2 Protocols

How does Layer 2 actually work?

Built on top of the Layer 1 network, Layer 2 solutions rely on a server or a grouping of servers. These groupings of servers have different names depending on the project, but we will refer to them as node operators for this article. Node operators can be a business specifically aimed at validating information or a large group of individuals with a single intent. Node operators ensure speed, efficiency, and security of transactions. They have a vested interest in a project, or the incentives offered by the project are worthwhile.

Transactions are not submitted to Layer 1 — they are considered off-chain transactions and are submitted to the Layer 2 nodes for validation; the node operators then pin or anchor them to Layer 1 in batches, so the transactions can’t be changed.

What type of Layer 2 Solutions are there?
The process of gathering and submitting transactions defines the different types of Layer 2 solutions available — how, when, and what data is used determines what these solutions are. For example, some solutions called rollups gather multiple transactions into a single transaction, create a cryptographic proof of the transactions, and then submit this proof to Layer 1 as a record. Within rollup Layer 2 solutions there are a few iterations such as the Zero-Knowledge Rollups which bundle hundreds of transactions into one via a smart contract, which is considered proof of validity.

Channel Layer 2 solutions allow users or participants to transact a certain amount of times off-chain while only submitting 2 transactions to the Layer 1 chain. The validity of channels is given by participants locking a deposit via a smart contract, which holds them to their transaction boundaries. For example, in channels, the participant’s first transaction is opening up the channel, and the 2nd transaction is the last, which closes off the channel, and a final on-chain transaction is logged.

Scalability is essential for the blockchain and crypto sphere to flourish.
Attracting and meeting customer’s expectations and demands can be difficult when operating on Layer 1 alone. A super busy network slows down transaction speeds and increases gas prices tremendously as transaction senders try to outbid one another. In some instances, transactions can not be executed at all because of network congestion, and gas fees are deducted anyway. This frustrates users and makes DApps less user-friendly and more expensive.

Layer 2 solutions are the gateway to a happier, more satisfied user base and thus better adoption in the long run.
Layer 2 has brought much-needed innovation, especially for real time-related application developments like blockchain games. It has opened up the market because users aren’t put off by slow transactions and high gas fees, and scaling is doable without compromising Layer 1’s security.

According to an article on Hackernoon, if we look at the VISA Transaction per Second (TPS), the Visa TPS requirement is about 47K transactions per second. Layer 2 is an opportunity for blockchain and crypto to elevate their game and challenge traditional centralized solutions.

An effective example of a successful Layer 2 integration is the integration of Loopring into the Eidoo (PNT) ecosystem, specifically the eidooCARD. The eidooCard is linked to the Eidoo (PNT) DeFi wallet on the app and is considered one of the best Defi wallets.

The Loopring integration into the DeFi wallet app allows the VISA-backed Eidoo crypto card to make faster, real-time transactions at a lower fee in traditional retail, dining, or online shopping situations while maintaining the decentralization aspect of the Ethereum blockchain. This is what makes the eidooCARD your gateway into the future – a new, fast, and low-cost way to do crypto.

Loopring, a Zero-Knowledge Rollup Layer 2 solution, makes it possible to justify the smaller, more frequent kinds of payments, like those you can make with your eidooCARD or any mainstream debit or credit card. Loopring does approximately 2,025 trades per second off-chain compared to the Ethereum network which can only support approximately 30 transactions per second. This reduces gas consumption plus brings overall settlement costs to only fractions of a cent.

The old term used in blockchain technology referring to the Impossible Triangle, which refers to Security, Scalability, and Decentralization no longer has any bearing when it comes to Layer 2 solutions which are responsible for the decentralization evolution.

Macbook Pro Repair

Repair MacBook Pro at Macbook Repair DubaiService Center

15 and 13-inch laptops made a real sensation. Despite its compact size, the MacBook Pro impresses with its power and performance. Display MacBook Pro in terms of picture quality can rightfully be called the best among laptops on the market. The Retina screen impresses with its realism thanks to a resolution of 2560 × 1600 pixels. Apple engineers have improved the management of the MacBook Pro using the Force Touch trackpad design. Intel processors, with two and four cores with advanced graphics, brought the laptop to a new level of performance. MacBook Pro is a complex and expensive device. If you notice even the slightest malfunction, immediately order a MacBook Pro repair!

MacBook Pro models that Macbook Repair Dubai specialists repair

Since 2006, Apple has launched the MacBook Pro. If your MacBook requires replacing a part, there are problems in its operation, contact the Macbook Repair Dubai service center. Our masters carry out any repair of MacBook’s of such models:

• MacBook Pro A1150 15.4 ”(2006); • MacBook Pro A1151 17 ”(2006) • MacBook Pro A1211 15.4 ”(2006) • MacBook Pro A1212 17 ”(2006) • MacBook Pro A1226 15.4 ”, 17” (2007) • MacBook Pro A1229 15.4 ”, 17” (2007) • MacBook Pro A126 15.4 ”, 17” (2008) • MacBook Pro A1261 15.4 ”, 17” (2008) • MacBook Pro A1278 (2008, 2009, 2010) • MacBook Pro A1286 15.4 ”(2008, 2009, 2010) • MacBook Pro A1278 13.4 ”(2010, 2011, 2012) • MacBook Pro A1286 (2010, 2011, 2012)

Faults of the MacBook Pro, the repair of which is better to entrust to the masters of the Macbook Repair Dubai service center.

Using a laptop every day, we forget about the elementary rules for the proper operation of the device. Most often, this leads to breakdowns and repair of the MacBook Pro laptop. First of all, the case and the screen suffer. Shocks, drops, spilling tea or coffee on the device, getting wet, self-repair or unskilled repairs do not pass without a trace for a technique such as the MacBook. As a result, the motherboard, battery, power controller, speakers, and other details fail. In order not to damage the gadget, even more, MacBook Pro repair can be entrusted only to experience and trusted specialists. The masters of the Macbook Repair Dubai service center have been repairing Apple laptops for over 10 years. Turning to us, you will receive prompt and quality repair MacBook Pro at the best price.