New technologies must maintain high security standards, says Jens Bader, Chief Commercial Officer of Secure Trading, and identity services could be the next big thing in the fight against payment fraud.
Businesses and consumers are standing on the brink of a payment revolution. Interest in the adoption of new technologies is quickly moving into the mainstream. Contactless is the latest buzzword of the payments industry, as it opens up exciting new opportunities for innovation.
From mobile wallets and wearables to blockchain and cryptocurrencies, the rate of change in the payments industry has accelerated in recent years. While technological advances are offering consumers more choice and more convenient ways to pay, companies may find it more challenging to stand out in a crowded market.
The global payments industry is developing at a rapid pace. Fuelled by a fast growing e-commerce sector, digital technology has already changed the way people pay, merchants sell and how both interact with financial institutions. The future of payments is mobile.
Transactions need to be simple, fast and secure, says Dr Gerrit Seidel, CEO of SOFORT GmbH. This is crucial for the adoption of online payment solutions as well as the growth of the e-commerce sector.
Where there’s global commerce, there’s a need for global payments. ONPEX, The Online Payment Exchange, knows no borders and helps any market, developing or emerging, expand globally.
The advent of online banking has revolutionised the way people manage their money. With 93% of European citizens using their bank accounts as their primary funding source, Trustly – the Swedish FinTech company - is on a mission to make online payments using the bank account simpler and more relevant for consumers.