Top 10 Trends Impacting the Future of Payments

The way people make payments is changing faster than any area of financial services, impacted by the changes in digital technology, competitive forces and consumer demands. Understanding the trends in payments is important for any bank or credit union wanting to serve the complete financial needs of consumers.

I just returned from a 11-day overseas trip where I never used cash. Instead, I was able to use chip and mobile payment technology to execute all of my purchases, including flights, hotel rooms, restaurant bills and the smallest purchases in a fast and seamless manner. At the same time, I used local and international ecommerce websites to make various purchases on my iPhone (including a new iPhone X) with a minimum of effort.

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