How we will pay for things in 2020
Just about everyone is interested in knowing more about the way we will pay for purchases in the future. SIX now keeps you informed about the trends of tomorrow: on a new section of its website, SIX surveys and evaluates the leading payment trends. The knowledge platform is now available online.
SIX Payment Services today launches a microsite, aimed at clients, media and the general public, exploring trends in cashless payments. At present this new site takes a close look at fifteen payment trends, with more to follow at a later date. The trends range from mobile POS to near field communication technology and virtual wallet solutions. Each trend is explained with examples and benefits, while the ‘trend barometer’ shows which trends SIX considers especially hot.
As of 2020, the ‘digital media natives’ generation will represent the majority of consumers. This inevitably gives rise to new expectations and needs.
“The smartphone generation takes constant online access for granted,” says Sascha Breite, Head Portfolio & Positioning. “Plus, payment on site and online are increasingly merging. This means mobile payment methods are very much in demand.”
But cash and payment cards won’t be disappearing from consumers’ wallets just yet: whether people will choose between mobile payments or more traditional forms of payment will depend on the circumstances.
Where we’re headed
The offline and online worlds are getting closer to each other all the time. The various aspects of the payment market, like cards, accounts, bonus programs, and gift cards, are increasingly uniting on a single interface, whether it’s a smartphone, tablet, or virtual storage in the cloud. From online payments at home or on the road, to point-of-sales payments, in the near future the smartphone will be the main tool for spending and receiving money.