Payments Frontier: Our Constitution

Payments Frontier will focus on three developments that are set to turn the payments industry on its head:

• Online and mobile payments are turning the industry on its head.  Since the launch of the payments card over 50 years ago, the industry has developed within the same infrastructure and there have been no fundamental changes.  In the last few years, several existing players, such as Visa, PayPal and IP Commerce, are opening the platforms up to external developers.  This should lead to a wave of customer-focused innovations that will fundamentally change the industry
• Billions of people who have previously been unbanked are being included in the financial services industry through prepaid and mobile solutions.   Migrant workers is a particularly interesting segment, as many of these currently deal in cash and repatriate enormous sums to their home countries.  A number of exciting initiatives are currently underway to convert this to more secure and efficient payments systems.  This is also likely to be an arena for innovation, as there are no legacy systems
• The social web is changing the way in which we communicate and could have enormous implications for how payments providers interact with their customers

Viva la Revolution !!  lets start the discussion ...