There are various issues when dealing with financial transactions. Let’s explore them one by one and find a solution to all problems together.
Today, online financial and crypto transactions have become an integral part of our daily lives, but they come with a set of challenges that limit their growth and widespread adoption.
Among the top priorities for the users are security and privacy — major concerns in online transactions, as well as the threat of malware attacks.
With the increasing number of cyber-attacks and data breaches, people are increasingly cautious about their financial information. They want to find a trustworthy financial partner and ensure secure transactions worldwide — with no limitations.
Let’s delve more into the financial world with some statistics on online financial transactions.
Let’s delve into some financial statistics for 2023 related to online transactions to make sure it’s a growing tendency and already a necessity today:
Image Source: Statista
According to Statista, global total transaction value in the “Digital Payments” segment is projected to reach US$9.47tn in 2023, and the total transaction value is expected to show an annual growth rate (CAGR 2023-2027) of 11.79% resulting in a projected total amount of US$14.79tn by 2027.
According to Insiderintelligence, mobile commerce is projected to reach over 43% of total retail e-commerce sales in 2023 compared to 41.8% in 2022.
Imagine a company that allows buying any product with e-cash online, directly from your mobile.
Would be amazing, wouldn’t it?
According to RetailBankerInternational, 81% of European IT leaders in financial services and 73% in the insurance sector in a recent survey, say they are concerned that the transition from the pandemic to an economic downturn will see businesses freeze IT budgets and headcounts.
Imagine a world where there are no financial blockers…
Today, PayPal is still the most popular online payment method worldwide with over 429 million active users.
According to the US Federal Trade Commission, the number of fraud and identity theft has risen rapidly during the last years reaching over 3mln complaints for fraud and 1.5mln in identity theft reports only in the US.
Image Source: Consumer Sentinel Network Data Book
So this is why it’s crucial to have a trustworthy financial partner when dealing with online financial transactions.
Before getting to the solution of all the above-mentioned aspects, let’s explore some challenges faced by people when implementing online financial transactions:
One of the major concerns for online transactions is the threat of cybercrime such as hacking, phishing, and identity theft (chart provided above).
Technical issues such as server downtime, connectivity problems, and slow transaction processing can cause inconvenience and frustration for users.
Different financial institutions may have different systems and standards for online transactions, leading to compatibility issues and difficulty in the seamless transfer of funds between them.
Human errors such as incorrect account details, miskeyed amounts, and incorrect passwords can also lead to transaction failures or fraud.
Financial transactions are heavily regulated and online transactions may face legal, regulatory, and compliance issues.
Some areas of the world still lack the infrastructure for reliable and secure online transactions, which limits access to financial services for those populations.
Or there are some platforms that don’t allow people to implement transactions in some critical countries, making it not available worldwide.
So this is why the mentioned challenges highlight the need for an innovative company allowing the implementation of secure, efficient, and user-friendly online financial transactions.
We’ve talked about some financial stats and mentioned some of the top issues when dealing with financial transactions.
Now let’s get to the solution!
So imagine a world where you can have financial freedom and implement unlimited online transactions at a low cost — globally!
This is where Privateum comes in!
Privateum is a company that aims to revolutionize the financial world including online transactions by providing a secure and private platform for financial and crypto transactions.
The company’s mission is to make secure online transactions accessible to everyone and to eliminate the risks associated with traditional online transactions.
Privateum offers a unique solution to the challenges of online transactions.
Unlike other solutions in the market, Privateum uses advanced encryption and blockchain technology to ensure the security and privacy of its users’ financial information.
Moreover, with Privateum, users can make international transactions at low fees in every corner of the world — with complete confidence, knowing that their information is protected and secure
Today, there are various financial issues, nuances, and possible risks, especially in the financial industry.
So that’s why people consider Privateum as the solution to the challenges of online transactions.
With its advanced technology, innovative approach, and commitment to security and privacy, Privateum is poised to lead the future of online transactions and take the financial industry to the next level.
So whether you are looking to make financial transactions or find a trustworthy financial partner, Privateum is the best choice for secure and private transactions.
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