PAYMENTS TECHNOLOGY
“ Consumers , businesses and all participants in the payments ecosystem increasingly demand faster , more convenient and secure payment methods ”
BARRY RODRIGUES EVP , PAYMENTS ,
FINASTRA
So , while it is hard to comprehend the future of payments over the next decade , Capgemini ’ s Hölscher expects a shift in principles he sees today to continue throughout the next decade .
“ Paytech today is all about extending value beyond the payment process itself ,” he notes . Expecting connectivity to be a lasting theme , Hölscher believes paytech will keep “ propelling connected commerce , acting as an essential bridge linking merchants and consumers , thereby simplifying the payments experience .
“ Collaborations between paytechs and banks , especially through open banking initiatives , will continue to expedite secure and cost-effective payments ,” he adds , “ by granting customers access to banking services and facilitating seamless connections between consumers and merchants .
“ We ’ ll also see a continued shift to cater towards SMBs , as paytechs consolidate within the industry , directing attention towards tailored services and specific needs of different business sizes .”
With all these future considerations in mind , it ’ s clear that today , Gen AI is well and truly paving the way for a future where the scope for innovation in payments is endless . fintechmagazine . com 89