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Payment methods in adoption year-over-year. For 2019, we expect the
United States will follow the rest of the world in
poised to surge in 2019 regard to contactless payments.
Reason to keep your phone out
By Jeh Holsomback Shopping through proprietary retailer mobile apps is
Secure Payment Solutions Inc. accelerating, and quickly. Retail Consumers Adopt New
Technology, a Synchrony study, reported 67 percent of
ayment methods are evolving as tech savvy young- consumers have downloaded a retailer app on their
er generations come of age and develop purchas- phone, and many expect to make purchases directly
ing power. As consumers, they demand instant, through the app. This mobile wallet technology is
P easy, mobile options. This will give rise to rapid becoming the norm and even a preferred way to shop.
adoption of several payment methods in 2019 that not only
eliminate the need for cash but obliterate reliance on physical Say hello to Gen Z, the generation, born about 20 years
cards as well. ago, that is displacing millennials as trend setters.
This subpopulation was born with mobile devices in
Playing catch up with contactless hand and, as their purchasing power grows, so will
demand to pay via phones.
In its report titled The rise of contactless payments around the
globe, Visa projected 50 percent of its transactions would be Pay up with P2P payments
contactless at U.S. merchants that accept contactless payments
by the end of 2018. Previously, small transactions between family and
friends like splitting checks or borrowing money
The U.S. lags behind in contactless adoption compared to the were primarily cash-based. That is shifting with the
rest of globe. In 2017 in Canada, Visa processed 33 contactless rise of peer-to-peer payment applications. Venmo,
transactions per second; the U.K. saw a 97 percent increase Square Cash and Zelle are the three leading apps.

This trend is fueled by the same demand for quick,
digital experiences that is dominating virtually every
area of tech, with no signs of stopping. eMarketer
SnapShot of Up Coming Events estimated P2P transactions could rise from $156.49
billion to $244.03 billion by 2021.
Keep an eye on voice-enabled

The rise of voice-assisted shopping has opened
the gates for voice-enabled payments. It will be
interesting to see to what extent wary consumers
warm to this payment method in 2019. In a Nov. 20,
2018, article, PaymentsJournal reported that only 7.4
March 11-14, 2019 percent of consumers have used a voice assistant to
Hyatt Regency Phoenix make a credit card payment.
Phoenix, AZ
htt ps://www.stapayments.com/ Enjoy the Ride in 2019
Contactless payments, mobile wallets, P2P payments,
and voice-enabled payments are going to continue
to increase. Make sure you are developing options
that enable merchants to meet consumer demands
for these payment methods. Delivering innovative
solutions and staying in front of evolving trends is
vital to winning business and being successful.
March 25 -27, 2019
Loews Atlanta Hotel Jeh Holsomback, CEO of Secure Payment Solutions Inc., has been
Atlanta, GA active in the payments space for 15 years. He has helped to grow
htt p://www.southeastacquirers.com/ SPS from founding to 27 employees with clients in all 50 states.
registration.html
SPS is involved in all aspects of electronic payments, including the
development and launch of Paradise POS. He can be reached via
email at jeh@spscards.net.

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