Why might a company utilize technological solutions in payment processing?

Utilizing technological solutions in payment processing primarily serves to enhance controls and security. In today's financial environment, where cyber threats and fraud are increasingly sophisticated, employing advanced technology allows companies to implement robust security measures such as encryption, authentication protocols, and real-time fraud detection. These safeguards protect sensitive customer information and transaction details, thus fostering trust among customers and reducing the risk of financial losses.

Additionally, technology can streamline payment processes, ensuring that transactions are completed quickly and accurately. This can significantly improve operational efficiency and provide better customer experiences.

In contrast to the other options, maintaining traditional frameworks would not leverage the benefits that new technology offers, such as improved security and efficiency. Reducing technology costs, while a potential goal, is not inherently the main reason for adopting such solutions, as the focus is more on enhancing capabilities and security rather than merely cutting costs. Similarly, eliminating payment processes is counterintuitive to a business model that relies on transactions; rather, companies aim to optimize and secure those processes through technology.