Using Interoperability to Overcome a False Sense of Complexity

By PaymentsSource

Of all the many technology innovations in the last few years, the truly unparalleled innovation is interoperability. When companies with their disparate systems and platforms can communicate and share their data the multiplier effect on new technologies and benefits is tremendous. Or, as Bruce Parker, founder and CEO of Modo, puts it: “We’re on a rocket curve of new technologies that would not have happened without interoperability.”

Modo securely and fairly conducts the exchange of payment event data across the platforms of banks, networks, payments processors, and their partners. Its contribution to the interoperability effort is its technology, known as COIN, which is designed to power digital payments from any two sources without either party having to modify their payments system. No need to throw out the old technology to make way for the new.

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