Mobile payments

During the past year we’ve seen some ingenious, innovative solutions addressing financial inclusion, and that will need to continue, says GPS CFO Richard Hodgson.

Payment companies in the near future will need to address the impacts of industry consolidation, pricing pressures, regulation, card-based technology solutions and spotting the proper niche, says Moneycorp Americas' Bob Dowd.

The question isn't whether things will magically return to the 2019 status quo, but where is there still pent-up demand among consumers and merchants?

While fintech's advancement creates a pathway for innovation, it also expands exposure to unintended risk, says Flywire's Mike Massaro.

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

Trade war bans on payment apps are pressuring large companies and providing opportunities for regional specialists, says Nets' Sirpa Nordlund.

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.

As the transport ticketing market evolves in the wake of the pandemic, further intensifying the challenges caused by the dominance of proprietary systems, it’s time to see a more open, collaborative public transport ecosystem, says Calypso Networks Association's Philippe Vappereau.

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 year — and the coronavirus pandemic — caused a dramatic shift in attitude. Many consumers and merchants now saw contactless cards and mobile payments as a way to move ahead without the germ fears that come with touching cash and PIN pads. And even after those fears subsided, the new habits stuck around.

PayPal’s Venmo has launched a new “Cash a Check” feature on its mobile app to some customers. The offering is made in partnership with Ingo Money and its parent, First Century Bank.

During the crises, most of the investment is going toward mature fintechs, creating more challenges for startups, says Global Processing Services' Richard Hodgson.

Safaricom Plc. is in negotiations with fund managers, investment banks and insurance companies to partner on a raft of mobile phone-based savings and wealth-management products, Chief Executive Officer Peter Ndegwa said in an interview in Nairobi, Kenya’s capital.

Moving into 2021, curbside will continue to be a significant element of the retail experience as customers grow to prefer the convenience. Getting a head start on streamlining checkout now will set your company up for success in the next digital decade, says Mobiquity's Brittany Mills.

Launching a card is complex, and fintechs have the answer for a more dynamic future, says Railsbank's Dov Marmor.

The U.S. debit networks have always been strong supporters of open standards created through open, consensus building, says the Secure Remote Payment Council's Paul Tomasofsky.

After 18 years heading the U.S. Payments Forum and Secure Technology Alliance, Randy Vanderhoof will retire at the end of the year.

Tokenization, click to pay and other advancements boost efficiency and safety, says the Electronic Payments Coalition's Jeff Tassey.

Paying on delivery with tokenization, biometric fingerprint cards, vein scanning or phone-to-phone with a variety of card payment options helps create a universe of consumer choice, convenience, personal preference and better fraud protection, says Radar Payments' Jane Loginova.