A week back we published FinTech predictions for Asia for 2017 by Henri which can be read here. We got predictions from four more people who run their own companies and/or are industry experts.
Nigel Savory, Managing Director, Bottomline Technologies, on trends he expects to see in the global business and payments space in 2017:
- 2017 will mark an important turning point in the rising use of cards over recent years. The launch of real-time payments in North America and Europe will see rapid adoption of these new payment instruments by consumers and businesses, due to their ease of use, 24/7/365 availability and lower cost compared to cards. This topic will be especially pertinent ahead of the upcoming real-time payment initiatives of SEPA in the EU and The Clearing House in the US, which will be launching in November 2017.
- Consumer-facing corporates, especially big brands in e-commerce, will start becoming regulated Payment Institutions to take advantage of changes in payment rules. This will enable these large businesses to improve their customers’ user experience and make payments an invisible and integrated part of buying. This will be especially relevant in 2018 when the PSD2 regulations become effective, but many big corporates (e.g. the big tech and online retail companies) will be exploring and discussing this next year.
Christopher Kon ...