Mitigating Ambiguity in Requirements for Enhanced Precision in Payment Application Development within the Payments Industry

Abstract

The adoption of new technologies and the growing complexity of payment transactions promote a rapid transformation of the payments sector, which is currently in the midst of this transformation. Consequently, the demand for increased precision in developing payment applications is increasing. Despite this, there is still a significant amount of uncertainty in the standards, which can result in misunderstandings, delays, and increased costs. In this research, we investigate the factors contributing to ambiguity in payment application requirements and suggest an approach for limiting the associated risks.