Future of Payments

In the lead-up to Cebit’s Future of Payments conference in early October, we’ve been exploring the future of money and financial transactions.

Piggy Bank - Pewari

Writing for The Conversation: “More than technologies, the future of payments will be shaped by value” (8 October 2013)

Sometime in the not too distant future we won’t go through the hassle of negotiating how to split a lunch bill. We’ll do it through an app. Or pay your portion with your credit card, your online ID, or your personal secure token and tip the waiter in Blue Orbit Points.

Our options for paying for goods and services have expanded with innovation in information exchange and portable devices. Where are future innovations likely to occur and what might this look like for consumers?

And interviewed for Smart Company:  “Forget the credit card, and the app: Coles wants to let you pay with a sticker” (17 October 2013)

Kristin Alford, a futurist at Bridge8 and sessional lecturer at the University of Adelaide, toldSmartCompany that the drive towards contactless payment is very much driven by customers.

“It’s meeting a consumer need, or desire, for transactions at point of sale to be faster, to contain hassle, and to waste less time,” she says.

This has sparked a scramble amongst the major global financial institutions to secure their ownership of such payments technologies, Alford says.

Kristin was also interviewed by Stuart Bocking on Sydney radio station 2UE in relation to the release of the Coles Pay Tag (17 October 2013). Contact us for more information about our research on the future of payments or other future topics.

 

Photo Credit: pewari, Flickr

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