DIGITAL PAYMENTS
as well as save time , money and eradicate human error .”
Some fintech businesses such as Jobber , headquartered in Canada , even offer rewards . The company ’ s card reader is connected to their app and lets customers save 0.2 % on every transaction they process with it . The real game changer will be when payments are embedded alongside a range of other financial services - like lending , card issuing , bank accounts , and insurance ," said Laura Collinson , FinTech Director at Jobber .
Cryptocurrencies There is no denying the topic of crypto has probably been mentioned on almost every dinner table in the civilised world . So where can it go next ? According to Billy Roberts , CEO at Wedge , “ The future promises significant flexibility in using crypto as part of a currency bundle that includes a user ' s cash , credit , and other assets . In this paradigm , crypto can be used strategically , automatically , and when advantageous to the user .”
Some experts believe digital currencies will further integrate into everyday society . For example , Eugene Shapovalov at Innowise Group , said , " Cryptocurrencies have been the trend for some years already , and they are being implemented into modern economics step-by-step ."
Ted Claypoole , a partner at Womble Bond Dickinson who leads the firm ’ s Fintech Team , added , “ With 200 Coinstar Kiosks now inside Walmart stores , the trend of ATMs dispensing and cashing bitcoins and other cryptocurrencies is reaching deeper into the standard in-person retail environment .” Central banks are also getting in on the action by deploying their own digital currencies . Parijat Banerjee , Global Business
Analytics Head for BFSI at LatentView Analytics , thinks that “ maverick experiments like the Central Bank Digital Currency ( CDDC ) are looking to disrupt the space tremendously . This is also to reduce the volatility that creeps in with the likes of cryptocurrency .”
Growth trends to watch in 2022 Although many of these technologies are still in their infancy , they hold great promise for the future of finance . Michael Schrezenmaier , CEO of Europe at SumUp , said , “ I believe that 2022 will finally be the year that the QR code goes mainstream in Europe .”
In terms of other trends to watch , Daniel Kornitzer , Chief Business Development Officer at Paysafe , stated , “ One element of the payments landscape we expect to see a lot of progress in the next 12 months is the elevation of real-time payment rails to a global level .”
The fintech industry is rapidly evolving with new innovative payment solutions now revolutionising the payments landscape for consumers and businesses alike . It is evident the payment market is undergoing a period of immense change , with traditional card payments and cash beginning to be replaced by digital solutions offering convenience and simplicity for consumers around the world .
112 January 2022