Daniel Assouline of UpClick: Creating Innovative Payment Solutions
Digital merchants like to expand their global reach and increase sales. For this, they must be allowed to authorize and settle transactions in the currency of their choice.
This is very important.
Unless this option is given, e-commerce customers shopping online will not be able to make payments in local currency.
Who else could understand this need of entrepreneurs better than Daniel Assouline of UpClick?
His invention, UpClick, has answered many of the needs of e-commerce merchants.
UpClick, today, has a reputation of being the most complete online payment solution because, among other features, it extends digital merchants sales reach by opening up a portfolio of over 50 international payment methods in 100 countries.
Innovative retail payment methods and its importance
Having an innovative retail payment system in place not only maintains the stability and efficiency of the financial system, but also enhances confidence in sellers and buyers.
However, the digital market space still has considerable room for improvement.
A fact-finding study has following revelations:
- Even though the market is dynamic, only a few innovations so far had a significant impact on the market.
- Most advancements are developed for the domestic market, with little stress on international reach.
- There is high focus on quickening payment processing, either by faster settlement or via quicker payment initiation.
The e-commerce situation in Canada
In Canada, the internet use continues to rise. As per a survey, more than half the online transactions were done for making travel arrangements, such as airline tickets and hotel bookings. Canadians are also increasingly selling online either through online auctions or other means.
However, at the same time, the bad news is that e-commerce growth is slowing in Canada. After a 15 month year-over-year growth of nearly 20 percent, late last year the streak was broken.
There could be many reasons for this negative trend. One reason could be saturation in growth, or perhaps there exist some barriers for further growth.
Daniel Assouline knew that the influence of user behavior is also a driver of innovation.
People look for instruments that are more secure, efficient, and convenient. A sizeable number of people in Canada have not yet taken to internet shopping because they are not confident on security issues.
You cannot blame them. Security concerns exist in no small measure.
Daniel Assouline of UpClick, while developing his solution, had a challenge in hand. Every payment instrument has different security, ease of operation, and efficiency characteristics. He had to develop a payment processing platform that had an edge over others with convincing benefits.
Consumers want ease of use, protection against default of parties involved in the payment process, and safeguard against breaches.
All loopholes have probably not been plugged yet, but Daniel Assouline has made a significant headway, and Canadians, who are into e-commerce, have appreciated it.