What inspires you in the payment industry?
Read below what some of our participants say. If you'd like to share your answer, let us know!
Evolvement of payments and technologies and new opportunities inspires me a lot.
The recent trends towards mobile are a cultural change of the whole society, which means, that the payment industry is not driving the process, but it is driven by this cultural change. So also the speed of this change will not be defined by us, but it will be defined by the users. And the gap between security and comfort will widen and it will become more difficult to find solutions, which are easy to use for the cardholder, but which are secure enough to discourage fraudsters.
Payments is a core business to any financial institution. It is dynamic which gives room for innovation. This brings about new challenges and new opportunities for a business to grow.
For me it's being a part of this worldwide transition from “money to control people” to “money to serve people”.
The possibility to participate in one of the most rapidly-changing areas of the financial industry landscape, where digital revolution and mobile technology adoption, together with regulation and consumer behavior changes, are challenging all players, incumbents but especially new entrants, to innovate in products and services at a much faster pace and to set up the paths for a simpler and more convenient and integrated payments industry.
At the same time other exciting battles need to be fought and those are the ones related with the challenges of regulation, increasing competition and consolidation, profitability and business sustainability.
The industry is growing and it’s not limited by the borders of one country. I am inspired to be a “network person” able to connect East and West.
The payment industry is always moving and evolving. Ten years ago, a card was a simple piece of plastic. Today, the card has a chip and is becoming intelligent. What will be the card tomorrow? How will we be able to ease the payment while keeping the right level of security? That’s the inspiring challenge.
Payment itself is as old as human history serving basic need to exchange goods. The unseen future evolution of payment and how future society will perform retail transactions are constant flow of opportunities for businesses and creativities.
First of all, our industry really matters. What if a fire-fighting vehicle can’t refuel on a gas station because of a broken POS terminal? Or someone needs a medicine urgently but the nearest pharmacy store does not accept cards? Other examples are less extreme but still convincing. When people make payments and transfers on mobile – no need to visit a bank branch – they save time for their families and hobbies.
The opportunity to develop OpenWay’s business is my inspiration. In 20 years we’ve grown from a startup to a trendsetter. Together with leading banks and processors our company shapes the payment landscape, and I am happy to see the contribution of our marketing team. My teammates are talented professionals located in different parts of the world. When some of us in Europe leave office for the evening, others in Canada just begin to work – it's the 24/7 marketing:) We’ve built one of the strongest brands on the market, delivering innovations year after year. It feels great!
I am inspired by collaboration when it has goals beyond financial profit. My work in OpenWay - it's creative problem solving, it’s making customers happy, and it’s the positive emotions I see in colleagues.
The amount of disruption in the consumer payments industry. Lots of new players taking part of the cake, and a very dynamic ecosystem that is putting pressure on traditional players and changing well established positions in the payments value chain.