RETAIL PAYMENTS
“ B2B BNPL is gaining traction as a safe , simple , and supportive trading mechanism among businesses ”
LOUIS CARBONIER CO-FOUNDER AND PRESIDENT , HOKODO
notably , contactless card payments surged by 24.3 %, according to data published by the European Central Bank .
These trends emphasise increasing consumer preference for rapid , secure and convenient payments options and a broader shift towards digital wallets and innovative technologies across Europe .
Olivier Sery , Global Head of Sales , Digital Solutions at Giesecke + Devrient , recently discussed the significant expansion of digital wallets , which are predicted to represent 28 % of all noncash transactions by 2027 .
This growth is fueled by the increasing dominance of e-commerce and mobile wallet transactions , expected to account for 54 % of transaction values by 2026 , per a Capgemini report .
Sery elaborates on the evolving role of digital wallets , stating : “ Digital wallets are evolving beyond simple payment tools . Banks have a unique opportunity to harness their capabilities fully , transforming banking applications into comprehensive payments solutions .
“ This transformation includes enabling NFC-based payments and providing customers with greater visibility , control and choice , thereby placing these institutions at the vanguard of sustainable banking practices .”
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