The world is getting faster these days. Change happens at the speed of, well, if not light, then sound. The information deluge is constant. Commerce is constant. Payments and financial services? Always on, too, and always in demand. There’s no such thing as “bankers’ hours” anymore.
No surprise, then, that innovation in the payments space is getting ever-more truncated in terms of time to market. It’s also no surprise that trends now come in waves, more often than not, with nary a ripple effect in sight. Deals are cut across industries as firms seek scale, scope and technology to tie it all together. Witness, for example, Amazon’s push into food via Whole Foods Market – and its foray into medicine through its announcement, just last week, that it would buy PillPack. Not to mention push payments, which use existing rails to get gig workers paid as projects are completed.
Any number of examples of innovation and change pop up in the pages that follow. We asked executives from several points along the payments continuum to weigh in on what those trends and innovations mean, looking both backward and forward. CONTINUE READING