SANDSTONE TECHNOLOGY
“ The use of physical money or cash is diminishing markedly ,” Phillipou explains as he discusses how he thinks payments will become increasingly digital in years to come . He continues , “ boasting first-class online payment capability is essential for banks or businesses . Data is an exceptionally valuable asset , provided companies can make use of it in a compliant way to add value to their consumers . From a payment solutions perspective , I think we ’ ll see more and more partnerships where the key endto-end payment solution providers will work with companies that boast significant user bases or customers and enable them to offer market-leading payment capabilities .”
“ It ’ s logical that there is one global currency that has utility in every country across the world in the end ”
MICHAEL PHILLIPOU CHIEF EXECUTIVE OFFICER , SANDSTONE TECHNOLOGY
Another key factor that will shape the future of the fintech industry is the use of digital currency and how organisations look to use it for everyday transactions . Phillipou believes “ it ’ s logical that there is one global currency that has utility in every country across the world in the end . That said , in my view , that won ’ t be bitcoin , but more likely a stable coin that is pegged to the world ’ s major currencies .”
Aside from cryptocurrency becoming more mainstream , he believes that big data companies will also look to extend their offerings and enhance their contributions
170 February 2022