As we move towards a cashless society, the future of payments poses challenges and exciting possibilities.
PARTNER CONTENT IN ASSOCIATION WITH VISA
Over the past 20 years we have moved from a predominantly cash society towards a cashless society.
Gen Z, the teenagers and young adults of today grew up in this world. They don’t remember a time before Google, Amazon, streaming and a life played out on social media. Their expectations are for seamless, frictionless user experience (UX) in every transaction.
Philip Konopik of Visa Ireland says, “The future of payments is what we spend the majority of our time thinking about here at Visa.”
To this end, they have to constantly consider how to evolve systems and tools to keep one step ahead of the game, to respond to the demands for speed, convenience, value and rewards for consumers.
As we move towards a point where everyone can be a merchant and every device can become a payment acceptance device, the topmost considerations are safety and security—be that for cards or phones, using voice or facial recognition to authenticate.