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Category archive: The future of payments

Is a national digital currency the means to a completely cashless society?

Sweden is going cashless too quickly, according to a letter published by the Riksbank in October. The Swedish central bank wants to ensure that cash does not disappear entirely in the short term. How? The Riksbank wants to compel all banks and other credit institutions to continue to offer cash services for the time being. […]

Five global indicators that we are heading towards a (nearly) cashless future

Coins and banknotes are rapidly losing ground. 2016 was the first year in which the amount of money spent with non-cash payments was higher than with cash payments, according to Euromonitor International. It is still uncertain whether we will ever completely eliminate cash. Several Swedish agencies, for example, have expressed doubts about this. Although the […]

Is the world ready to say ‘good riddance’ to cash?

Although the use of cash varies between countries, there are signs that point to the possible end of banknotes and coins. In Sweden for example, for only 13 percent of payments cash is used. According to scientists at Stockholm’s Royal Institute of Technology – the largest and oldest technical university in Sweden – that percentage […]

‘The creation of financial systems is in the Baltics mainly driven by the younger generation’

With the acquisition of First Data Baltics, Wordline has gained a leading financial processor in the Baltic States, which is one of the fastest growing economies within Europe. According to research carried out by the World Economic Forum Lithuania, Latvia and Estonia are all three in the top seven most innovative countries in Europe, with […]

Invisible payments will open the door to mobile

Invisible payments are the answer to several mobile payment adoption problems. At least: that is what the cloud infrastructure company i2c says. Amazon is putting this theory into practice. Customers of the Amazon GO store just have to put their products in their basket and leave the store whenever they have everything they need. The […]

Millennials are the driving force behind mobile payments

The number of cashless payments increased by 52 percent between 2011 and 2015, with a total of 471 billion cashless payments worldwide in 2015. While the use of cash is decreasing, there is a momentum for mobile payments. According to Dutch bank ING almost half of the European mobile device owners bank by mobile, which […]

Why 2017 will be the year of turning points

Major developments, promising new technologies and sometimes a lack of clarity; 2016 has been an exciting year for the financial world. PSD2, instant payments, mobile payments and blockchain were the talk of finance town. But which of these technologies and developments will have the biggest impact in 2017? This is what several influencers have to […]

Making PSD2 access to accounts work in practice

There is a massive trend in many industries for co-development of solutions. Apple does not develop all apps themselves but provides a platform for others. Supermarkets do not bake the bread themselves but provide shelves for others to populate. Amazon does not produce own books and electrical goods but provides the means for others to […]

The future of payments at Sibos 2016: security, fintech and PSD2

Numerous financial experts gathered at the yearly Sibos conference, hosted by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). They spoke about the challenges that the financial market is facing at the moment. We have gathered some interesting insights, based on the Sibos Issues. Cyber-security Cyber-security is one of the most serious challenges facing the […]

Great user experience is the primary goal, then start thinking about scaling

In order to become innovative, companies need the right people with the right skillset in the right teams. There should also be an infrastructure in place to remove barriers of compliancy, according to our previous blog on innovation at Dutch bank ING. The next step is the actual work; how can ideas be turned into […]