Payment processing

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.

Card payments can't always cut it in different countries, says PPRO's Steve Villegas.

Finance teams can cut down their workload significantly and free up time to analyze data and make more strategic decisions towards improving customer experience and business growth, says RecVue's Amit Chaudhry.

With many impacted businesses still not ready to comply with the now enforceable CCPA, CPRA affected payment processors should start preparing for this new piece of legislation, says Abine CEO Rob Shavell.

Familiar with personalized offers and options from other industries, patients are tired of a one-size-fits-all payment model, says Visitpay's Kent Ivanoff.

The year 2020 was disruptive and chaotic. And while it derailed or delayed some companies' plans for growth, it also created opportunities for new combinations — or, at the very least, didn't slow them down.

It's important to consider difference uses and types of blockchains based on need and project management strategy for financial and payment technology, says Worldline's Hubert Marteau.

With Microsoft, Equifax and others acknowledging that the SolarWinds hack of U.S. government entities had affected their holdings, security teams and vendors have put the holiday aside while continuing around-the-clock surveillance to ensure no financial services or payments networks have been hacked.

As risk rises and budgets tighten post-pandemic, training all employees about security risks and conducting quarterly penetration tests helps to offset threats and potential losses.

By upgrading permissions and defining access, firms can get ahead of the new threat, says vArmour's Marc Woolword.

In the early days of the pandemic, when consumers seemed loath to touch cash or a PIN pad, it seemed that PIN authentication might have had few days left. But that hasn't been the case.

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.

While there has been a general trend of paying people faster for work already performed, starting with gig workers, COVID-19 has created (or exposed) many issues that are fueling the shift toward on-demand pay, especially for hourly workers.

Compassionate billing, transparency and digital processing can all improve conditions for providers and patients, says Cedar's Florian Otto.

International fintech Robocash Group has launched its first Buy Now Pay Later service in the Philippines.

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.

Remote learning and work heightens the security risk, says Pulse Secure's Mike Riemer.

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.