Date: Wednesday, July 06, 2022
Time: 02:00 PM British Summer Time
Duration: 1 hour

There’s never been more ways to pay. Debit and credit card issuers face stiff competition from digital disruptors who have spotted opportunities to reduce friction and make transactions more seamless and convenient for users.

Thanks to the global pandemic, and associated user behavioural changes, innovations in payments, opportunities to spend, and novel ways to transact have sprung up across the customer journey. But have legacy financial institutions been able to keep up with the upstarts and capitalise on the new normal?

With the rise of alternative payment methods such as QR codes, point-of-sale (POS) financing, request to pay (RTP), virtual cards and e-wallets, among others, the consumer has more options than ever around how they would like to spend their money.

With transaction fees and the costs of doing business shrinking, financial institutions must learn lessons from neobanks, start-ups and paytechs to exploit these substantial revenue opportunities.

How can the big players, with their established infrastructures and first-mover advantage, harness some of the modernisations and efficiencies of the new kids on the block? Looking to the future, where should incumbents be investing and innovating to exploit the substantial opportunities presented by this burgeoning payments ecosystem?