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Banking Meets Mobile at Cardist

The Cardist conference, Banking Meets Mobile, started yesterday in Istanbul and the real buzz was focussed on mobile and the near future of payments.

The first payment systems were introduced in Turkey in 1968, and now more than 30% of all payments are electronic.  The trend is accelerating and current projections indicate that cash will be eliminated totally by 2023.

In the meantime we’re seeing a convergence of technologies and according to some of yesterday’s presentations, the consumer’s experience is about to change on the high street. 

Imagine walking through your local shopping mall and receiving vouchers, discounts and information on special offers on your mobile phone. Not just spam but hyper-relevant offers based on your online and real world shopping habits, your Internet searches, your specific location and perhaps even today’s weather forecast.

Then when you are in the shop imagine being able to scan a bar code and look at product information, consumer reviews, size and color options and stock information from this and other stores. Once you’ve decided to make a purchase you might choose to pay with your credit card, debit card, loyalty points or even you PayPal account all of which are stored on your mobile phone. 

One thing is for sure, the payment systems needed to process these transactions will need to be available 24x7, be highly scalable and able to adapt to new authorization requirements and new channels at the drop of a hat.

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