Digital and mobile payments are increasing in every global region, boosted by regulatory efforts and increasingly available technology. Competing approaches and solutions are being integrated into more platforms and incorporating identity and authentication solutions to enable secure transactions.
Banks and their partners are colliding with digital service providers, with mobile at the centre of much of it, which is bringing about change and upheaval to traditional business models and thinking.
A variety of technology choices and routes to market exist. For banks it is a question of which best suit their existing infrastructure and capabilities and allow them to maximise their relationships with their customers whilst ensuring that they stay relevant and competitive. These include banking, payment and remittance apps, NFC, HCE, BLE, tokenization, secure elements, trusted execution environments, online and digital wallets, in-app payments and a growing range of “coopetitive” relationships.
Over-the-top service providers, who are built digitally from the ground up and employ strategies based on “grow user base first then worry about monitisation” are challenging the status quo. Some new entrants look appealing but who will own the customer experience and who will be able to deliver value-added services?
P.A.ID Strategies’ coverage addresses these and other issues facing the incumbents, the challengers and those who may potentially partner, including retailers, mobile network operators, payment networks and acquirers and other service providers across in-store, mobile and web-based channels.
Topics of interest include:
Enabling technologies, including NFC, BLE, HCE
Tokenization and the cloud
Digital multi-channel convergence
Traditional versus new business models
The potential for wearables
EMV, China UnionPay and RuPay
OTT and 3rd party payment services