Top 4 Cartes 2015 payment trends
As the curtain closes on Cartes 2015, we take a look at the top talking points from Paris – and which payment trends will dominate the agenda into 2016.
- Marketing and payments are becoming more closely integrated
The shift towards mobile commerce and the emergence of mobile-based point of sale disruptors such as Apple Pay and Square are bringing payments and smartphones ever closer together.
If you need a proof point, Izicap – a card-linked marketing platform that merges mobile payments and loyalty schemes – was crowned winner of the Cartes start-up challenge 2015.
What’s even more significant is that Izicap’s solution is targeted at SMEs, showing that businesses can’t use size as an excuse to fall behind in the in-store customer experience race.
- Money’s over as we know it
OK, perhaps that statement is a little premature, but Fintech expert Chris Skinner hosted a very popular session on the rise of digital currencies. Bitcoin’s profile continues to rise, as does its most popular wallet, Blockchain; Chinese investor Wanxiang recently backed a $50million venture fund for open source Blockchain development projects.
Visa, Virgin and Netscape are among the major businesses that have already backed the power of Bitcoin, with Richard Branson stating that it believes in the currency’s long-term potential.
- Security is an increasing concern
Given some of the high-profile data breaches suffered in recent months, it’s hardly suprising that 93% of consumers don’t believe retailers will be able to safeguard their information in the event of a cyberattack.
Next generation authentication was hot on the Cartes agenda, including a keynote by Deloitte’s Nick Smaling on biometrics in finance. His talk coincided with a Financial Times article on alternative payments, in which Nick’s colleague Paul Lee claims that biometric advances will enhance the use of mobile wallets and in-app payments.
- Payments must become more intuitive
Bringing together some of the discussions around payments, marketing and security, Soprabanking Software’s Olivier Perrin closed the show with an interesting talk on the digital wallet. As he rightly summed up:
— SopraBankingSoftware (@SopraBanking) November 18, 2015
Olivier believes that APIs are the essential tool into making mobile payments work better for the consumer.
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