Digital innovation opened the door for fintech to provide easier access to low-cost credit. This latest era of buy now, pay later (BNPL) gave consumers newfound purchasing power. Stream our webinar to hear Euromonitor experts answer fundamental questions about the multibillion dollar BNPL landscape.
Digitally minded consumers are forcing financial institutions to rethink the way they do business. These consumers want to bank when and how it suits them. Financial institutions must innovate quickly to keep up with consumer demands and to respond to challenges from non-traditional competitors.
MPC brings together fintech, mobile payments and digital technology leaders for 3 days of immersive learning and networking. The annual event is sponsored by Mobile Marketing and Technology Magazine and generous sponsors and partners.
Finovate is a conference series presenting the innovators and ideas at the forefront of banking and financial technology. Its Europe 2022 edition showcased the rapid development of fintech-driven payment innovations since the outbreak of COVID-19. Following the pandemic-induced digital push in the region, these emerging payment and banking methods have shown rising potential, as consumers and merchants increasingly embrace financial technology, focusing especially on Buy Now Pay Later, mobile banks and digital currency.
One of the key developments of the payment landscape has been the skyrocketing boom in demand for the modern day credit offer: buy now pay later (BNLP). Although the business model already existed pre-pandemic, the uncertain economic environment and easy accessibility significantly contributed to its success in the past year...
The pandemic has made more consumers adopt cash alternatives, reducing the overall unbanked population around the world. M-commerce is becoming more common as smartphone adoption spreads. Proximity mobile payments have increased to reduce contact at the POS. Consumer spending rebounded in 2021 following the global decline of 2020 and is projected to maintain consistent growth going forward.
The Coronavirus (COVID-19) pandemic has led to greater use of digital wallets, as consumers continue to shift away from cash for both online and in-store payments. With gaps in financial services, increased user functions on digital wallets are challenging banks to build their digital capabilities or partner with digital wallets to remain relevant. In addition to more partnerships with merchants and operators, trust in the security of digital wallets will remain an influential feature driving use in the future.