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January 8, 2023 • Issue 24:01:01

Rolling out 2024 – Part 2

will help pave the way to co-branded card experiences. Ul-
timately, he noted, this trend will transform store credit
cards from generic payment instruments to "the very heart
of a brand's customer experience."
Can't touch this
Brad Hyett, CEO at phos by Ingenico, has seen an uptick
in contactless payments and predicts this will continue
to scale. "In 2024, Ingenico anticipates that the contactless
payment trend will advance to the next level of accessibil-
ity and adoption," he said, noting that SoftPoS, also known
as tap-to-mobile or tap-to-phone, allows merchants to use
smartphones and connected devices to accept contactless
By Dale S. Laszig payments, which he said is secure and compliant with PCI
he word evolve, derived from the Latin "evolv- standards for mobile payments on commercial off-the-shelf
ere," means to unroll, a fitting description of the devices.
payments industry's cyclical journey of embrac-
T ing and replacing technology. In this second Touchless technology is poised to disrupt the industry, Hy-
article of our series forecasting the coming year, industry ett noted, as diverse merchants use mobile devices to com-
leaders assess the potential impact of the top trends they plement existing systems or accept contactless payments at
see. Most experts cited herein agree credit cards, paper roadside stands, food truck counters, ride-shares, pop-up
checks and other incumbent technologies remain resilient shops, event concessions and more. He also mentioned that
in the face of next-gen solutions. POS terminals, for exam- merchants are enhancing checkouts by offering preferred
ple, continue to evolve alongside wearable, commercial off- payment methods, dynamic currency conversions and buy
the-shelf and virtual devices. now, pay later options at stores and online.
Hyper-personalization Independent software vendors with increased transaction
volume and residuals can leverage these trends, he stated,
Simon Kahlaf, CEO at Marqeta, has seen credit cards evolve predicting that worldwide SoftPoS will grow at an impres-
from a one-size-fits-all model to highly personalized expe- sive 20.4 percent CAGR to reach $1,077 million by 2030.
riential products that adhere to individual users' personal
preferences. With more than 570 million credit cards in Rising volumes, regulatory oversight
circulation in the United States, he anticipates more such
hyper-personalization in the coming year. Scott Dawson, head of sales and strategic partnerships
at DECTA, has seen a resurgence of debit usage, largely
"In 2024, I expect to see a transformation driven by the pro-
liferation of embedded credit capabilities that allow brands
to integrate customized rewards into their shopping expe-
riences, and extend their reach beyond their own proper- Contributed articles inside by:
ties, and turn every payment action into a loyalty and re-
engagement moment," he said. "Marqeta's research shows Nick Cuuci................................................................................................28
that 74 percent of U.S. consumers believe there is room to Adam Atlas ..............................................................................................30
personalize rewards based on individual spending habits,
showing the demand for credit providers to create individ- Elie Y. Katz ...............................................................................................32
ualized rewards and credit experiences." He believes this Sofia Sadiq ..............................................................................................34
consumer-driven expectation will compel more brands to
offer financial services and offer credit themselves, which
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