Transact is Revolutionizing the FinTech Industry

March 23, 2023

Technology

The world of financial technology (FinTech) is a rapidly evolving space that is constantly pushing the boundaries of innovation. By leveraging the power of digital technology, FinTech startups are creating new products and services that are transforming the way people transact and manage their finances. In this article, we'll take a closer look at how Transact Campus is revolutionizing the FinTech industry with our innovative approach to digital payments, cloud computing, and development operations (DevOps) automation. 

What is DevOps Automation? 

DevOps automation is the practice of automating the process of software development, delivery, and operations. This approach helps speed up the development process and allows for more frequent software releases with fewer errors and bugs. By leveraging DevOps automation, companies can quickly develop, deploy, and iterate on their products and services with greater agility and reliability than ever before.  

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Our approach is inspired by DoD Enterprise DevSecOps Initiative for Software Factories, which is a set of best practices and standards for developing resilient cloud native applications with secure software supply chains and controls. 

Acquiring Hangry for Seamless Integration 

Transact recently acquired Hangry, a leading mobile ordering company that specializes in the higher education market and campus card systems, to quickly scale up their capabilities and seamlessly integrate Hangry's software systems into Transact's.  

This acquisition quickly enabled Transact Mobile Ordering to support a variety of campus card systems.  

It also gave Hangry access to Transact's comprehensive suite of services including Cloud POS, kiosks, declining balance accounts, cash equivalency, meal exchange plans, and board plans. 

Leveraging Cloud Infrastructure for Security and Controls 

Transact’s highly available and geographically distributed cloud infrastructure provides security and controls that exceed government standards. This cloud infrastructure allows us to provide the highest level of security, reliability, and scalability for our FinTech services. Additionally, our best-in-class software controls and processes in place ensure that data processing operations are secure and compliant. 

Utilizing DevOps Automation for Improved Operational Efficiency 

Transact also utilizes DevOps automation to quickly deploy new applications with greater agility than ever before. This automation has allowed us to rapidly iterate on product development while still maintaining high levels of security and control. This improved operational efficiency allows us to offer faster, more reliable services than any other FinTech player can currently match. 

Pioneering New Models for Digital Payments 

In addition to leveraging DevOps automation for improved operational efficiency, Transact is also pioneering new models for digital payments that are more convenient for everyone involved. Through our secure payment platform and intuitive user interface customers can quickly make payments without worrying about identity theft or fraud concerns. Merchants can also accept payments from clients using a variety of methods such as Apple Pay or Google Pay allowing them to expand their reach beyond what was previously possible. 

Maintaining Robust Security Systems 

Security remains paramount within the world of FinTech, so it’s no surprise that we have implemented a comprehensive security infrastructure that provides multiple layers of protection and best-in-class software controls and processes designed specifically for shielding data transmitted via transactions.  

In addition, our products and services are compliant with all applicable laws and regulations at regional and global levels alike -- so clients know they are always safe and secure when transacting online using any of our services. 

Kicking off 2023 

With self-serve ordering and automation mainstream, Transact kicked off 2023 by announcing a marketing-leading collaboration with Amazon’s Just Walk Out and Transact Campus, bringing fast and frictionless shopping to campuses for the first time. Stores powered by Amazon’s Just Walk Out technology will be deployed across campuses via an integrated solution combining Transact’s card system for payments, mobile ordering app for store entry, and Cloud POS for product catalogs, inventory, and reporting. 

Shoppers, students, and any verified user with a university account can simply scan their unique QR code to enter a store and start a virtual shopping session. The technology detects what shoppers take from or return to the shelves. Shoppers will be able to leave the store without having to wait in line and the credentials stored in their Transact Mobile Ordering account will be used to pay for the items they selected. 

Looking Ahead 

Transact is actively disrupting the financial technology industry through our innovative approaches related to DevOps automation, cloud computing and digital payments. With our robust security systems, improved operational efficiency, and pioneering models for digital payments, we are quickly becoming one-of-a-kind when it comes to providing next generation financial services.  

As we move forward along this path towards greater adoption and usage of FinTech solutions across industries, it'll be interesting to watch how Transact continues to innovate and disrupt the FinTech industry in the years to come. 

At Transact, we stay ahead of the curve when it comes to FinTech innovation and take proactive measures to ensure compliance with all applicable laws and regulations. We are committed to continuous monitoring of networks, incident response plans, launching a Security & Trust Center and taking other steps necessary for maintaining high security standards. Our goal is always providing our customers with the most secure and reliable services possible. 

The way students pay for tuition and campus goods and services is undergoing a dramatic transformation, and it's important to stay informed about these changes to remain competitive and provide the best payments experience. Our vision is to be the most trusted, secure, and innovative technology platform for all our college and university clients’ payments and commerce solutions. 

“Transact is revolutionizing the FinTech industry in many exciting ways. From leveraging cloud infrastructure for security and controls and utilizing DevOps automation for improved operational efficiency, to pioneering new models for digital payments and maintaining robust security systems. Transact is the recognized leader in terms of providing next generation financial services,” said Peter Scharnell, Sr. Director of Payments Product Management, Transact Campus. 

To learn more about Transact's commitment to quality control and high security standards visit transactcampus.com today. 

Key Takeaways 

Here are some key takeaways from this article: 

    • Transact acquired Hangry to quickly scale up our mobile ordering capabilities while seamlessly integrating Hangry's software systems into our own. This acquisition enabled us to support a wide range of campus card systems while also giving Hangry access to our comprehensive suite of services including Cloud POS, declining balance accounts, cash equivalency, meal exchange plans etc. 

    • To maintain high levels of security and control Transact leverages a highly available geographically distributed cloud infrastructure that exceeds government standards; have best-in-class software controls and processes in place; utilize DevOps automation for improved operational efficiency; and pioneer new models for digital payments that are more convenient for customers and merchants. 

    • Security remains paramount within FinTech which is why we have implemented a comprehensive security infrastructure that provides multiple layers of protection ensuring data transmitted via transactions remain safe and secure while complying with all applicable laws and regulations at regional and global levels alike.

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