- Three minutes read
From Web3, to crypto and AI: This is the future of payments
The future of payments is bright. Here’s how progressive regulation can help us realise this potential.
Web3. Crypto. AI. The most exciting emerging technologies, set to play a significant role across industries for years to come.
And payments sit at the heart of them – ensuring businesses and consumers get the best experience possible. But this is not without challenges.
Our trends report, The Future of Payments, tackles how businesses, consumers and governments must reckon with a new landscape of vast opportunity, and the hurdles that must be overcome.
Featuring interviews from six thought leaders, covering topics including digital assets, video games and product innovation, we outline the importance of more personalised, safer, and friction-free payments than ever before, as well as regulation that nurtures innovation.
Here’s some of the key takeaways from the report.
The future of payments is bright. But regulation must allow innovation
In the report, several of my brilliant colleagues tackle key areas of innovation, while outlining the regulatory challenges facing businesses and policymakers.
Zwelli Burns, Senior Director, Risk Strategy, explains the biggest change in compliance in recent years: the increased level of oversight from regulators wanting to gain control around digital assets. He goes on to discuss what changing compliance means for digital assets and Web3 now and in the future.
Building on the importance of regulation, I discuss the significant uptake in businesses wanting to use digital assets to reduce costs and increase efficiency, and the regulatory developments (including MICA), opportunities and hurdles regarding crypto, Web3 and AI.
Then, Elbruz Yilmaz, SVP of Vertical Growth, dives into how a progressive regulatory framework that fosters innovation while providing a sense of security for users and investors is essential.
Elbruz and Samuel Collins, Director Vertical Growth - Crypto, Web 3 & Video Gaming, continue to break down the opportunities in digital assets and beyond. Samuel explains how borderless, permissionless transactions with financial inclusion in mind, should level the playing field for everyone as we seek to witness the vast potential of the future of payments.
The report also dives into specific verticals, with Aaron Gale, VP Sales & Account Management, Video Games & Entertainment, outlining how digital assets and Web3 have affected the video gaming industry in different ways. From allowing new types of digital ownership, monetisation, and governance, to making new genres and experiences, and bringing in new audiences and investors. In the report, Aaron delves further into the impact Web3, digital assets and AI are having on the video games industry.
Finally, Megan Oxman, SVP Product Experience explains how changing technology, as well as merchant and consumer expectations, are driving innovation in payment platforms.
Megan elaborates on why providing a seamless, friction-free user experience for both merchants and consumers is the key trend shaping our products, and how this can be achieved.
The future of payments. Now.
While we tackle a number of topics in this report, one sentiment prevails: the future of payments is bright, but it needs to be nurtured.
Regulation that hinders the developments of payments, and key technologies like Web3, AI and digital assets will only undermine consumers, businesses, and the UK and Europe’s position as innovation leaders.
By encouraging innovation in these technologies with a framework that fosters it, policymakers, businesses and other stakeholders can adapt and thrive with the shifting payments landscape, and ensure consumers can safely enjoy its huge potential.
Download the Future of Payments: Trends Report now to find out more.