Fintech
Twelve Payment Predictions Which Might Change Your FinTech Strategy
W By Simon Fairbairn
ith almost 40 years in the industry, the collective payments expertise of the Ingenico team is unparalleled. So, as the new year begins, Simon Fairbairn, Director of Solution Development at Ingenico Banks & Acquiring, considers 12 key payment predictions for 2020.
This is brilliant, but it means fraudsters will inevitably innovate their techniques, too. As a result, in 2020 we will see banks enhance their security and implement measures to protect customers, such as payment delays, SCA, 2FA and Confirmation of Payee.
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Digital Payment Rewards Alongside enhanced security, monetary savings and ease of use, digital payment rewards will increasingly become embedded in payments as a value-added service. These types of loyalty initiatives provide opportunities to engage directly with customers and are useful
Fraudsters Innovate Too In 2019, Authorised Push Payment Fraud (APP Fraud) rose by 40 percent, costing the UK ÂŁ616 million. Thanks to PSD2 and Open Banking, we will continue to see more new players in FinTech.
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TOTAL FINANCE
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March / April 2020
