Daniel Shin, PortOne’s Founder, and CEO, is changing how to think about payments, banking, and finance. As a serial entrepreneur with extensive experience in startups and IT, Shin wanted to disrupt banking as we know it with an innovative approach that embraces digital payment processing for traditional brick-and-mortar retailers. PortOne is building a next-generation payment processing solution to empower emerging and traditional retailers to accept instant smartphone payments.

1. Evolving Biometric Technology.

Biometrics is the technology that can recognize a unique biologic characteristic of a person, such as their fingerprint, face, iris, or voice. As more and more payment systems embrace this technology, it is becoming the norm. This will be helpful for people with a disability who may have trouble using traditional payment processing methods such as ATMs and card readers.

2. Data and Workflow Automation

Mobile payments are changing the way we do business. Rather than searching for a physical card, payment is now done through your mobile device or watch. This eliminates consignment store fraud and theft from using physical cards in stores. Daniel Shin is playing the long game when it comes to payment processing.

3. Competition Driving Lower Costs and Added Value Services

Many players compete to get a larger share of the mobile payment space, seeking ways to differentiate their services. And many are doing so by offering additional value services, such as loyalty programs and gift card donations, in exchange for payment processing. The competition within this market is fierce and will continue to drive innovation in the payment processing industry for years.

Daniel Shin has focused on offering payment processing services and technology solutions to emerging and traditional retailers. This is an important step as it enables PortOne to focus on the successful adoption of its product by retail companies worldwide.