Visa Europe has published its second edition of The Future of Technology and Payments report, which has found that the speed of technological advances and consumer expectations are the primary drivers of the evolution of the payments industry.
The original Future of Technology and Payments report identified seven technology-related topics and discussed the likely impact on payments. Two years on, this follow up report continues the conversation by building on the existing themes and charts their evolution over the next three-to-five years. The report goes on to discuss the consequences for the way that payment services are delivered, managed and processed.
The report concludes with three key findings which are designed to spark an on-going discussion. These are:
- Consumers are willing to share personal data with businesses if it means they receive valuable, easy and frictionless services in return
- Businesses must work together to share consumer insights if they are to meet the growing expectation of personalised services
- Cultural divides between old and new technologies must be bridged in order to foster business success and meet consumer demand
Click here to see the full report.
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