What is this article about?
Key discussions from PAY360, featuring industry leaders on payment technologies, ESG integration, and digital accessibility.
Why is it important?
It highlights the latest trends and strategies shaping the future of the payments industry.
What’s next?
Explore the insights from these interviews to understand the future directions and innovations in payments.
The Payments Association’s PAY360 is a premier event in the payments sector, where industry leaders, innovators, and decision-makers gather to shape the future of payments. This year, Payments Intelligence captured captivating conversations with some of the most influential figures in the payments industry, including Natasha Zurnamer, CEO of Optty; Jonathan Vaux, head of propositions and partnerships at Thredd; Mike Adams, CEO of Purple Tuesday; and Gihan Hyde, CEO of Communique.
The discussions covered a range of critical topics. These included the rapid evolution of payment technologies, the integration of ESG principles, and the increasing importance of digital accessibility. Other focal points were the future of virtual and prepaid cards, fraud prevention, and the role of AI in enhancing customer experiences.
Mike Adams, CEO of Purple Tuesday, shares his insights on accessibility trends and the customer experience for disabled individuals. Key topics from their discussion included:
The size and growth of the global disability market
Emerging technologies like AI and their potential to improve accessibility
The importance of digital and website accessibility
Simple strategies organisations can implement to enhance accessibility
The global nature of disability issues and opportunities for international collaboration
The role of initiatives like Purple Tuesday in supporting organisations
Natasha Zurnamer, CEO of Optty, shared her insights on the future of payments. Key topics discussed included:
The evolution of payment platforms and the importance of user-friendly interfaces
Optty’s commitment to sustainability and ethical practices as a B Corp
Expanding payment options to meet diverse consumer preferences
Strategies for personalised checkouts and fraud prevention
A vision for seamless in-store and online payments initiated from customer devices
In this insightful discussion on ESG strategy and communication in the payments industry, Gihan Hyde, CEO of Communique, provided valuable perspectives. Some key highlights included:
Jonathan Vaux, head of propositions and partnerships at Thredd, discusses major trends shaping the future of payments. Some highlights from their conversation include:
Virtual and prepaid cards are playing an increasing role in digital banking and e-commerce due to their flexibility.
Major fraud prevention trends include single-use cards, leveraging card rails for risk management, and increased focus on compliance capabilities.
Customer experiences will see more engagement in risk management through notifications and active checks rather than just convenience.
Global payments require local expertise, partnerships, and understanding regional complexities to navigate cross-border transactions.
Thread aims to advise clients on necessary fraud prevention and provide local support for global expansion.
The discussions at PAY360 highlighted the rapid evolution of payment technologies, including the increasing use of virtual and prepaid cards and enhanced fraud prevention methods. A significant focus was on integrating ESG principles, emphasising the importance of sustainability and ethical business practices in the payments industry. Digital accessibility emerged as a crucial priority, with new technologies improving online accessibility for disabled individuals.
Additionally, the role of AI in enhancing customer experiences was a major theme, showcasing its potential as a significant enabler in the industry. The future of checkout is expected to involve personalised, seamless payment methods tailored to individual preferences and needs. Inclusivity and accessibility were also underscored as essential, driven by the growing demands of customers, employees, and investors. These key takeaways glimpse the future directions and innovations set to redefine the payments landscape.
The Payments Association’s consumer behaviour survey uncovers shifting payment preferences in the UK, with digital methods on the rise while cash remains vital for certain demographics.
Fintechs are rapidly reshaping the merchant services sector, challenging traditional banks to innovate or face declining market dominance.
Explore how decentralised finance is transforming the payment industry by offering transparency, efficiency, and access, amid regulatory challenges.
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