Mobile payments

The debate over whether NFC or QR codes is the best technology to adopt still persists today. So far, there has been plenty of room for both.

The Los Angeles bank's service, offered in partnership with the fintech Extend, enables card controls and uses tokenized account numbers to improve security.

The tech vendor allows merchants using the Clover point-of-sale platform to accept PayPal and Venmo payments, a move that serves the company's continuing focus on full omnichannel experiences for its merchants.

The quick adoption of financial technology, coupled with remote work, requires firms to focus on internal innovation as well as customer-facing advancements.

Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.

User experience and efficiency matter. Consumers aren't going to do something more difficult just for the technology, says Computop's Jed Danbury.

As competition becomes more about countering fintechs than beating other banks, alternative payment methods and broader services will be key, says Icon Solutions' Simon Wilson.

Both consumers and merchants are realizing the permanent benefits, says Azoya USA's Franklin Chu.

Online ordering, outdoor pickup and digital shopping features are more than emergency workarounds, and merchants need to make them a regular part of their strategies, says Signifyd's Mike Cassidy.

The move toward a cashless economy in China reveals a boom in actionable data, says Azoya USA's Franklin Chu.

Bradley Riss is chief commercial officer at Checkout.com, a firm that acts as a payment gateway, acquirer and processor through a single channel, covering cards, passthrough wallets, stored value wallets and alternative payment options such as point of sale credit. It charges a fee based on processing and card payment costs rather than the percentage+ model that most payment API companies charge. The model is designed to make the service customized to different merchants and serve as a base to offer other merchant products.

Recurring transactions build relationships, are digitally friendly and can diversify product offerings, says Zuora's Michael Mansard.

Decentralized finance, in tandem with financial institutions, could create a more efficient, convenient, wider-reaching and more secure experience than traditional finance alone, says FISPAN's Clayton Weir.

Humans have come to expect experiences that are simple, efficient, quick, error-free and secure, says Bottomline Technologies' Jessica Cheney.

Building the processing tech was the easy part. Finding the right mix of users and transactions posed many challenges.

Building the processing tech was the easy part. Finding the right mix of users and transactions posed many challenges.

The council plays a critical role ensuring technology meets robust security needs as fraud risks rise, says MYPINPAD's Justin Pike.

When managed effectively, certification bodies can coordinate industry-wide solutions to otherwise significant challenges, easing pain points and ultimately driving innovation, says Fime's Reza Rahmani Fard.

Transit and parking draw new users to mobile wallets, and Google is expanding both features to add use cases for its payment app.

The shift to digital is permanent, creating an opportunity to reassess long-term strategy, says Greynier Fuentes.