Publication Date: November 20, 2017

November 16–17, 2017, Riga hosted the VI International eCom21 Forum, gathering around 600 participants from all over the world. The central theme of the forum, formulated as "E-Commerce HD²: Homo Digitalis in High Definition", reflected the main trend: e-commerce must be maximally oriented towards the human of the digital era.

Paysto management actively participated in discussions, focusing on how new personalization technologies and growing regulatory requirements affect cross-border payments.

🔬 Personalization and Machine Learning

Key takeaway from the conference: general marketing strategies are no longer sufficient for success in online retail. It is necessary to see the client in "high definition" (High Definition).

• Human-Based E-commerce: We discussed how the use of Big Data (Data Insight) and personalization systems (Retail Rocket) allows not only to sell, but also to anticipate customer needs.
• Implementation at Paysto: These ideas directly influence the development of our payment gateway. We apply elements of Machine Learning to not only more accurately analyze transactional risks (fraud protection), but also to offer merchants more personalized and relevant payment methods for their end customers.

⚖️ New European Regulation: AMLD5 and Compliance

One of the most important sections for Paysto was the discussion of changes in international legislation. The European Union is actively tightening requirements for combating money laundering, as reflected in directives AMLD4 and the upcoming AMLD5.

Importance of Compliance: Participants, including experts from Accuity, emphasized that compliance with these regulatory acts is becoming critically important for everyone working with European finances. Paysto, as an operator connecting markets, is tightening its internal KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to guarantee our clients full legal compliance with European standards and uninterrupted operation.

🚀 Cross-Border Trade: M2C and New Models

The forum discussed new models, such as M2C (Manufacturer-to-Consumer), which involve eliminating intermediaries and growth in direct parcel trade (according to Alibaba Group and other speakers).

Paysto sees in this a confirmation of its strategy:

• We provide a flexible and scalable service that is necessary for manufacturers and retailers directly entering international markets.
• Our expertise in complex, regulated cross-border processing is the foundation for supporting these new, rapidly growing business models.

The VI eCom21 Forum confirmed that the future of e-commerce lies at the intersection of technologies (AI, blockchain), strict regulation, and customer centricity. Paysto continues to integrate these three elements to provide our clients with a competitive advantage.