DRIVING THE FUTURE OF PAYMENTS

TREND 1

GEN Z RISING

Though they are just teens and young adults today, Gen Z will make up to 40 percent of all US consumers by 2020. This emerging demographic doesn’t remember a time before Google, Apple, Facebook and Amazon, and will influence other consumers.

TREND 2

UX IS THE NEW GOLD

As the payments universe expands, customer experience is becoming the prime competitive differentiator. When companies have the customers' attention, they better get it right.

TREND 3

MOBILE HITS ITS GROOVE

Mobile payments is poised to finally have its day thanks to APIs and open banking. And delivering a unified mobile payments experience is ground zero in the battle for the consumer.

TREND 4

REWARDS REVOLUTION

Consumers want more rewards and are willing to switch cards to get it. Payments players have the opportunity to deliver rewards that meet consumer lifestyle needs, delivered seamlessly in real time.

TREND 5

THE NETWORK EFFECT

The power of the network is built upon collaboration. Working within ecosystems allows companies to multiply capabilities and reach without investing from scratch.

TREND 6

FINTECH AND BANK FUSION

Banks and Fintechs will power the future of payments transformation. Banks have brand recognition, industry knowledge and a customer base to scale. Fintechs have disruptive technologies and agility.

TREND 7

AN ARMS RACE IN CODE

Every credit card account becomes software code. It will reinvent customer experiences, and influence regulations and security measures.

TREND 8

PAYMENTS EVERYWHERE

Everyone can be a merchant and every device can be an acceptance device. The payment network becomes bilateral for the first time.

TREND 9

FRAUDSTERS INNOVATE TOO

Bankers view data security as among the top challenges in payments today. As the industry projects $31.3 billion in global card losses in 2018, financial institutions must push to out-innovate the fraudsters.

TREND 10

RIP AND REPLACE REQUIRED

Overhauling existing payments infrastructures is a must for payments players today. Replacing inflexible systems with open and agile frameworks is key to compete.