How did the digital transformation begin?

Digital Transformation’s breakthrough was through artificial intelligence

Before answering this question, we will take you on a short trip on How did the digitization begin

Who has not heard entrepreneurs in conferences and talk show programs talking about the importance of digitization for companies, factories, governments and even large and small stores, emerging or even veterans in the labor market, but then we think a little about whether this step is expensive and requires elements that exceed what will bring us from digitization?

What does digitization mean? What problems did it solve and how?

1- Where did the term digitization come from?

Digitization is transforming everything that needs your actual presence to be fully done with the help of technology. Using technology in all aspects of life saved time and effort and provided the opportunity for emerging industries and stores to reach the largest number of consumers and thus led to increased productivity in the least time and at the best price.

Digitization has found a solution to this through the emergence of electronic payment platforms such as Damen Company, which enables you to pay utility bills, as well as Internet bills, and even donations and school and university expenses easily and safely.

2- Here are some of the problems that digitization has solved:

We all know that not having enough time in your day prevents you from doing all your tasks and getting them done, you can overwork your health or even put yourself at risk.

Imagine that your only task in one day is to stand in a long queue in front of a branch of a bank to take your turn to check your bank account balance only, or to wait in a long queue to book a plane or train ticket to travel a distance that your waiting time in a queue may exceed the flight hours .. Did you imagine the suffering?

This was the spark that encouraged many to use computing and digital services, especially electronic payment platforms, because they are secure and save time. These are the reasons why countries are into digitization, as normal transactions take hours and days in some cases.

Now you can perform secure transactions easily in minutes.

3- How does electronic payment platforms work?

When making any electronic payment process, the payment gateways send the details of the process to the payment processor;

So there are 3 levers that control the acceptance or receipt of payments from customers:

A- Merchant’s account

b- Payment processor

c- Payment gateway

This is what we will discuss in our upcoming topics, but here is an overview of the payment processor and its importance:

The payment processor is the link between the merchant account and the payment gateway, passing and verifying the validity of the process and transferring money to the merchant account all in seconds and with complex data encryption, making your accounts completely safe from hacking.

Here, you can view an article that presents solutions to preserve customer data and protect it from theft.

4- How did digitization and the use of payment platforms solve all these problems?

It was necessary to find a way to facilitate all these processes and paper transactions, which in most cases require your presence in person to make them such as reservations, payments, transfers and paying bills.

Here’s an article presenting the role of Daman in digitization.

After we learned the importance of digital transformation, is there a greater technological development to facilitate financial and other transactions?

The answer is undoubtedly yes. Knowledge does not stop at the end point, the end of one journey is the beginning of another.