Opinions

While digital pay innovation was once seen as a “nice-to-have” benefit, it's quickly becoming integral to business survival, says LendingFront's Jorge Sun.

Software developers and ISOs must go into payment partnerships with a full understanding of what capabilities their merchants are seeking, including flexibility and choice, says NMI's Nick Starai.

With the increased shift toward digital payments, which has only been accelerated by the COVID-19 pandemic, manual data analysis and threat detection methods have failed to stop the fraudsters, says The ai Corporation's Oliver Tearle.

Replacing the traditional POS model will be a cloud-focused and software-defined model that gives shoppers their choice of checkout and reimagines the store experience, says Zynstra's Brian Buggy.

Our collective work on the real-time payments front is not for naught. That is because the consumer and business needs are evolving, says Bottomline's Jessica Cheney.

Concerns over cash and checks are permanent and will make contactless mainstream, says Global Market Insights' Vinisha Joshi.

Inflationary and macroeconomic pressures will position bitcoin as a new asset that acts as a recognized store of value against inflation, says FiCAS' Ali Mizani Oskui.

Unlike a traditional supply chain, where value and risk travels up and down a set of organizations in a linear fashion, the extended enterprise is a complex network of relationships, says PXP Financial's Koen Vanpraet.

For the 2020 holidays, retailers that enable payment flexibility by catering to global shoppers will prepare themselves for lasting success, ensuring they are on the right side of this industry transformation.

Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged.