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points of sale alike if a business is to attract consumers from all over the world . “ For ecommerce , payment is always the last point – people don ’ t want to pay ,” says Qu , adding that the idea is to make this process so smooth it all but disappears . “ Singapore plays a very important role in cashless ,” he comments , referring to the chosen venue for Money2020 Asia , “ and some countries are doing the same thing . The argument is how soon it becomes a global solution .”
“ I think the important thing comes back to consumer experience ,” he adds . “ If the consumer pays with a
smartphone , they get a better experience . That ’ s going to be the future but it will take time . A company like Geoswift still needs to invest a lot in technology to make things easier for the consumer . The key is to make things as simple as possible . All the inventions in human history are for one reason : because people are lazy , right ? People don ’ t want to waste time , and the payment space is no different . With any new technology – like smartphones , QR codes , or even biometrics – the most important thing is how a consumer can use it easily .
AUGUST 2019