Moving Forward into Financial Digitalisation

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Moving Forward into Financial Digitalisation

The financial outlook of the world has been shifted to cashless payment nearly a decade ago, however, the pandemic has been an accelerator on how transactions and payments are made. Due to many experts believing that the COVID-19 virus could be transmitted via conventional cash transactions, the way we do business is moving towards cashless and online payments.

Therefore, businesses that provide multiple payment method options were able to quickly adapt to the situation and continue to provide their goods or services. Moreover, we should realise that a “cashless” culture is more than just fluke progress or trend, but an important and necessary solution for the new era of finance and banking.

The Advantages of Converting into Cashless Payment

Nowadays, with all the various options from payment gateway apps and platforms, traditional modes of payment have become less and less popular. All of your problem’s solutions are basically at the tips of your finger. Payment methods such as credit/debit cards, mobile wallets, QR codes, Immediate Payment Service (IMPS), and payment gateway applications became more familiar to society.

There are some benefits to having a cashless economy. Here are some of them:

  • Convenience – carrying wads of cash is a bit hassle as it takes more space and becomes a potential risk to be carried around. This problem could be solved by using online payment methods. Some of the apps even help you to track your cash flow.
  • Security – in the digital platform, many firewalls and encryptions are made to secure all data transactions. And carrying a phone is much easier and safer than carrying a bag of money.
  • Discounts – to promote and encourage society to move towards a cashless economy, many payment gateway companies gave numerous discounts, and cashback, and also waived some of the fees.
  • Hassle-free – transacting online can help you with exact amounts. This means that there is no fighting for small change.

Tips on Banking Apps and Websites Translation

People love to have options, nonetheless in the banking and financial world. When people go to banking websites or download payment gateway apps, the most common first prompt would be: Select your language.

Language can affect purchase decisions. It is common that individual shoppers tend to choose their own language to make payments. For the customers to be able to explore better what and how an app works, understand terms and conditions, and also to familiarise themselves with how to go around the websites and apps, it is very crucial for a website or app to be categorised as “user friendly”. The accurate translation of banking terminology and the service provided shall not be biased and confusing. It should give the most accurate information to customers, which could give customers the experience of a smooth transaction process.

Terms and conditions, security, policies, and any other related regulations in each region are different, such detail is also required to be translated accordingly. Your policies need to adjust, to comply with local regulations. Furthermore, translating each feature of the apps could avoid misleading the users to make a wrong financial decision, getting complaints, or even giving your app critical reviews.

Using the service of a professional translation agency is the best solution to translate and localise your banking business. Your translation and localisation project would be handled by a team of experienced translators who are specialised in banking and finance, the translation also would go through a proofreading process which would minimise any errors. Moreover, working with a reputable professional translation agency would guarantee that the translation would be complying with local regulations and that sensitive data privacy is safe due to the prior signed NDA agreement.

Elite Asia’s certified and experienced linguist team is committed to providing the best service to our clients by taking confidentiality as the biggest concern protecting clients’ confidential information upon signing a non-disclosure agreement. This would be a great main reason why you should choose Elite Asia as your trusted translation partner.