Gary Prince’s Post

In the ever-evolving landscape of financial technology, the shift towards #cashlesspayment trends in 2024 has been nothing short of revolutionary. As we step into 2024, the momentum behind this transformative trend shows no signs of slowing down. Here are some predictions for the cashless payment landscape in the coming year. https://lnkd.in/gYgrTBhu

Fintech has transformed how people interact with financial institutions. As a result, people expect Fintech apps to be user-friendly, fast, and visually appealing. 7 must-haves for your Fintech app in today’s world:

Fintech has transformed how people interact with financial institutions. As a result, people expect Fintech apps to be user-friendly, fast, and visually appealing. 7 must-haves for your Fintech app in today’s world:

Digital payment industry is evolving at a really fast pace but power without control is not just useless, it can also be a problem when talking about cross-border #payments.. As the payment industry evolves, regulations, risks and services offered must accompany the changes. These 5 predictions for #fintechs are something to have in consideration when deciding your payment partner. #Flywire #internationalpayments #educationpayments

CBDCs must work offline if they are to be rolled out successfully - GlobalData https://buff.ly/3S0C4gV No argument here from me. In fact, I'd go further than this and say this since CBDCs have to work offline, why not make all of the transactions offline so that there are no scaling issues? I can see why auditing must be online, of course, but there is no reason for the transactions to be online. If the transactions are device to device (TEE to TEE, basically) the whole design and implementation is so much simpler.

Consumers are sitting on a lot of cash. In the UK alone, there is £1.5trn ($1.9trn) stashed in cash savings accounts, with some £250bn of that earning zero interest whatsoever. But the era of historically low interest rates is over, and – thanks to inflation – the cost of holding onto that money with no return is higher than it has been since the 2008 financial crisis. No wonder then that young fintech businesses are targeting that pile of underused cash. Offering suites of wealth-building tools from high-interest savings accounts to investment solutions, they hope to attract customers who are yet to flex their financial muscles. It was great to work on this piece looking into why fintechs are all so keen to look after your cash with Amelia Isaacs. Thanks to Avion Gray of Belong, Nicky Wallace of Flagstone, Roisin Levine of Wise and Daniel Hegarty of Communion for speaking to us.

Cash vs. Digital? Unleashing the Power of DFS through Agent ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Digital financial services (DFS) have been on the rise, leading to debates on whether cash infrastructure has a future, and whether cash will disappear along with DFS agent networks. Such scenarios have raised concerns about the effects this would have on low-income and vulnerable populations in developing economies who have less access to smartphones and internet. For example, many people who are unbanked or lack access to a mobile phone will see an increase in the cost of accessing and using cash as it becomes more scarce and less accepted in a given economy.  However, recent global evidence post-pandemic and CGAP’s recent work in emerging DFS markets casts doubts on the disappearance of cash and shows how agent networks will continue to play a key role in serving low-income customers in developing countries. #dfs #paymentsolutions #paymentorchestration #paymentsinnovation #payments

Dan Schulman has led incumbents (AT&T, American Express) and disruptors (Priceline, Virgin Mobile, PayPal). He has seen industries swing from fragmentation to consolidation and back again. And right now, he believes that the future of financial services will soon favor the biggest players once again. That may seem counterintuitive, when digital technologies empower consumers to move their money at the click or a button and the number of providers seems to multiply daily. But Schulman argues that all that tech requires investment and scale, a combination that will drive the industry back to consolidation: "Scale really matters,” Schulman explains. “If you think about the era of AI, models are your weapons. Data is your ammunition. The more data you have, the more powerful those models can be, the more powerful your value proposition can be.” The Financial Brand's Steve Cocheo spoke to Schulman in advance of his keynote address at The Financial Brand Forum 2024 in May. Other key takeaways from Schulman's future vision: - Thanks to AI, digital devices will become the “banker on your shoulder” (or in your pocket) within a decade. - The distinctions between banking and payments, saving and lending will blur or disappear. - “Money” as we know it will replaced or augmented with central bank digital currencies, stablecoins and other digital representations. For more, read Steve's interview — and check out the full Financial Forum 2024 agenda on our website. And let us know how your vision of the future agrees —or diverges — from Schulman's in the comments below.

For the past several years and post-COVID 19, the UK like many other countries have become increasingly dependent on digital payments, but are those who have not been as quick to adopt these methods in danger of being left behind?   Kevin Carson - FreedomPay, Senior VP of Global Business Development at FreedomPay, writes for Payment Expert on why banks, financial services and the incoming Labour government should look to provide equal opportunities for cash and cashless payment methods. https://lnkd.in/er8iSi8a

Fintech Torpago has a unique way to compete with Brex and Ramp: turning banks into customers: Fintech Torpago has a unique way to compete with Brex and Ramp: turning ... fintech features. The bank gets fully-branded software from Torpago ...