Well will compete with the likes of

Well first and foremost Happy New Year!
2017 was an impressive year for the payments industry, and the introduction of
new technology has made giant inroads for customers and businesses alike, and
this precedent looks set to continue well into 2018. The way customers are
looking to pay for goods and the way businesses are wanting to accept payments
is changing faster than any area of financial services, and this is primarily
as a direct result of continual changes in digital technology coupled with the
ongoing increase in consumer demands.

Ongoing emergence of mobile payments

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Millenials demand an exceptional digital
payment platform which extends to mobile payments. Back in November it was
reported that PayPal are planning a “full on” mobile payment App for
2018. Described as a “forthcoming NFC wallet experience,” the PayPal system
would allow for tap-to-pay purchasing which has become an integral part to many
businesses. The expectation and hope is that the App will compete with the
likes of Samsung Pay and Apple Pay but the jury is out on whether this will be
the case. PayPal already have a strong reputation and are well regarded, so
it’s very much a case of watch this space. In a recent study by Capgemini and
BNP Paribas, digital payments are expected to reach a record 726 billion by
2020 and digital commerce is no longer restricted to computers or smartphones being
widely available on a whole host of items. 

Jump on board for Pay and Wave

Perhaps to date you’ve only looked from
afar, and have yet to experience the joy and benefits of tapping to pay for an
item or services brings, leaving behind the traditional Chip and PIN payment
solution. Not only does it eliminate potential queues for business owners but
it’s now the go-to solution for people in a rush. 2018 may well be the year you
finally experience and become a member of the pay and wave club, and once
you’ve experienced the convenience and enhanced user experience it will change
your stance.

Payment Innovations

2018 will see an increasing level of payment
innovations from all across the globe. As discussed earlier in the article, the
popularity in mobile payments will continue to rise as companies look to
capitalise on the smartphone revolution. The market place has become saturated
with extensive competition in the last 2 years, and companies are seeing more
competition from overseas companies in what is deemed an extremely competitive
market. Every calendar year brings new opportunities to the payments industry
particularly for the mobile technology. Smartphones are now a mainstay for many
people’s daily lives, and now they have the ability to become a personal
assistant, you can do a weekly shop from the palm of your hand.

Move it Range

Ingenico’s eagerly anticipated Tetra
range will be available in the UK and there is much excitement over the
introduction of the Move it range to the marketplace. The Move range is deemed
a “game changer” by Ingenico and will allow the portable payment
terminal to a new world of business apps. The handset, also boasts of a camera,
touch screen feature and bar code facility amongst other features and will
surely only enhance Ingenico’s reputation in the UK marketplace. One of the key
aspects is designed about creating new consumer experiences by combining
payment and rich HTML5 business apps.

What are you expecting from the payments industry in 2018?

It’s going to be an exciting 12 months
and given the advances made in the last 2 years, 2018 could be the biggest and
best yet. As ever we’d love to know your thoughts and what changes you’d like
to see introduced. Please comment below or email
[email protected]