Merchant

Younger consumers have an appetite for fintech services and digital relationships, says Cloudentity CEO Jasen Meece.

Machine learning and innovations such as voice assistants can give the newly mature e-commerce industry an extra push, says Qualpay's Penny Townsend.

Consumers have gotten used to mobile order, pay and delivery, and will require even greater innovation, says OnFleet's Khaled Naim.

Many financial institutions have made initial moves into real-time payments via P2P services, and the use cases will jump over time, says Fiserv's Matt Wilcox.

Fake card numbers are 'tested' at online sites for validity, producing real and dangerous results, says Acqra Limited's Jessica Lenung.

Self-service payments require investment by the biller, but the payoffs can be huge, says PayNearMe's John Minor.

By focusing on "available near me" functions, retailers can combine digital with the need to boost small businesses, says Qualpay's Penny Townsend.

Some categories of businesses, such as restaurants, have different needs the program doesn't adequately address, says LendingFront's Jorge Sun.

The fees banks charge to merchants have skyrocketed because people are making more purchases using their credit cards during the pandemic. Lawmakers can cap these fees before they further eat into retailers' profits.

While instant payments and open banking have been gaining momentum across the globe, payments providers have established digitally backed services that not only facilitate seamless financial operations but also help generate revenue, says AFEX Americas' Christian Spaltenstein.

Organizations that put the customer experience front of mind will be the winners, but they must nonetheless expect additional pressure from regulators, new competition, ever more digitally demanding consumers, and no slowdown in technological innovation, says Entersekt's Gerhard Oosthuizen.

With people shopping online more than ever before, and a new group of consumers joining the online retail space, it’s become increasingly important for brands to connect their sales channels and embrace e-commerce, says Hatch founder and CEO Joris Kroese.

2020 has shown that the payment industry is flexible and resilient, and if 2021 throws our plans out the window, we'd better be equipped to adapt on the fly, says IDEMIA's Megan Heinze.

The pandemic may have served as a catalyst for rapid growth in contactless payments through wearable devices. It’s the combination of form and function, however, that will push wearable payments into further growth in 2021 and beyond, says Zeta's Bhavin Turakhia.

The events of 2020 fueled new customer expectations, accelerated digital transformation and allowed B2B companies to react and deliver. But customers’ changing expectations are not going to disappear, says MSTS' Brandon Spear.

The permanent shift to digital also requires changes in how firms communicate with consumers, says Medallia's Diane O'Hara.

As business flocks online, voice tech and social are just two of many innovations that will become stable stakes for merchants, says Hatch's Joris Kroese.

The simplest of mechanisms, having evolved over time, has now become a trending solution, a beacon of a brighter time and an essential service provider in an hour of need, says PPS' Tessa Unsworth.

Data that mimics the original set is part of coronavirus vaccine trials, and also has ramifications for mapping financial services metrics, says Aite's Ginger Schmeltzer.

Using imaging, hyperlinks and other technology can enhance the response to payment disputes, says Chargehound's Pallavi Kuppa-Apte.