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The rise is due to popular platforms, like Instagram and
Snapchat, enabling short form video content, which 91 Often thought of as just for use with
percent of consumers prefer over conventional static fraud prevention, artificial intelligence
media. What once consisted of a static online shopping
experience is becoming a much more fluid ecosystem has enormous potential to improve the
defined by multiple threads of content media. payment ecosystem for banks, processors,
8. Digital ID as king merchants and, ultimately, consumers..

At its core, identity verification has always underpinned
financial services in order to protect users and meet
compliance demands. Efforts to help streamline identity 12. Invisible payments
procedures, such as the creation of long passwords, cause
friction for customers. Many inevitably forget the long Invisible payments are dominating the payments industry
passwords they create, and $70 charges by banks to change with the likes of payments rings, Uber and Amazon Go,
passwords cause frustration. In 2020, Digital ID will help all of which are completely frictionless, with payment
eradicate these bugbears while providing numerous details stored inside the product. Across all sectors in
economic benefits and more secure identification for 2020, businesses will need to keep up with convenience-
consumers. led lifestyles, placing it at the heart of financial services
product design.
9. Relentless collaboration
Fintech continues to be the buzzword in financial services, Simon Fairbairn is director of solution development at Ingenico Banks &
relating to the rapidly evolving technology that is fast Acquiring. To discover more about Ingenico B&A's 2020 payment predic-
revolutionizing the industry. However, in order to keep tions, visit www.ingenico.co.uk/future2020.
innovating within the industry we can't rely on
technology alone; it's a team sport. Throughout
2020, as Open Banking continues to offer more
opportunities within the payments ecosystem, we
must continue to collaborate with other players to
keep innovating. We’re More Than an Authorization
10. Payments made via cars
We’re The Best Solution For You and Your Merchants
The Internet of Things (IoT) is making devices
smart. For many years we've heard about fridges
that consumers can make payments on, but cars
have been noted as the next big thing to be inter-
connected. Research highlights that the automotive
industry could be the most lucrative IoT platform,
and by 2023 it's estimated that 775 million cars will
be connected through telematics or in-vehicle apps RETAIL/POS DEVELOPERS
accounting for $63 billion in transactions that year.
If these estimations are to be achieved, over 2020 eCOMMERCE
we'll start seeing IoT payments for gas, tolls and
food.
11. Convergence of banks and card payments
MOBILE QUICKBOOKS
Due to Open Banking and PSD2, the ability to
have a card or bank account payment in near-real Plus ePN offers customized, versatile services
time starts to enhance the possibilities for how to help you support your business
a consumer may wish to pay at the point of sale EMV • Level III • Inventory • CDM • QuickBooks • Bill Pay • Recurring Payments
in 2020. We will likely see consumers offered the
choice of paying by real time payment rather than Through our ePN Partnership, ISOs/MSPs will experience:
by card – same outcome through a different route • No fee, lead distribution
with a different charging scheme. This may extend • FREE online documentation, development test account, and sample code for
to initiating a sequence of recurring payments, the experienced developers
first in real time, the remainder in a direct debit • FREE brandable marketing materials through our Reseller Support Center
format.
(800) 296-4810 • eProcessingNetwork.com
© eProcessing Network, LLC. All Rights Reserved. All trademarks are the property of their respective holders.
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