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The race for payments innovation

The world is full of talented technologists; technologists dedicated to delivering the best customer experience when it comes to payments. Spend a few days at Money2020 and you’ll get a first hand glimpse.

When it comes to the payments value chain, software and hardware developers are looking to deliver innovative solutions that:

  • Simplify the payment process
  • Reduce friction at the point of sale (regardless of access channel)
  • Protect from fraud
  • Deliver a relevant, personalized experience to the end consumer

The good news is that the collaborative spirit is alive and well in this industry.  As one of the largest conferences (7500+ attendees) dedicated to the payments ecosystem, the event brings together the stalwarts with the up-and-comers from the banking, processor, retailer and other markets.  With the goal of delivering innovative, game-changing, and disruptive (in a good way) solutions to market, the participants at this event shared ideas, deconstructed industry pain points, showcased new tools and challenged each other to take thinking to the next level.  Everything from the omni-channel experience, mobile payments, fraud management, convergence, real-time payments and data security was on the table.

At the end of the day, these innovative technologies need to do more than just “look really cool”. For them to be viable and succeed in the marketplace, they must solve a particular problem in the industry and deliver value to the customer.  Only then, can someone (or maybe the payments industry) claim victory.