Shaping the Future Through Payment Methods
The payment industry is undergoing significant transformations, with cybersecurity and AI playing crucial roles in ensuring a secure and efficient ecosystem. Dr. Carlos Nasher, Managing Partner at Thede Consulting and an expert in the field, discusses these aspects and more.
Moving money from A to B is no longer a simple task. Account-to-account transfers, real-time transfers, and embedded finance have made the process complex, yet more efficient. Dr. Nasher highlights game-changers like embedded finance and AI as key drivers in this transformation.
In the VUKA (volatility, uncertainty, complexity, and ambiguity) world, Dr. Nasher discusses fundamental market transformations. He emphasizes the importance of understanding and adapting to these changes to stay ahead in the industry.
Digital currencies, including central bank digital currencies (CBDCs), are expected to reshape the payment landscape. Dr. Nasher talks about the opportunities and limits of digital currencies, particularly the digital euro, which is perceived as a potential alternative offer or a beacon of hope in the industry.
Regulation is a critical aspect of the payment ecosystem, and the industry is navigating through the thicket of regulation, particularly in areas that are not well-defined or have "blind spots." Companies, regulators, and technology providers are competing to find the smartest solutions, new business models, and secure, user-friendly processes.
European initiatives are playing a significant role in shaping the future of the payment industry. Dr. Nasher discusses these initiatives, emphasizing regulatory frameworks such as the Markets in Crypto-Assets regulation and infrastructure for seamless cross-border digital payments.
Nicole Nitsche, Managing Director of Payment & Banking, is responsible for events such as PEX, BEX, TRX, and CryptX. With a background in theater studies, Nitsche has worked in various roles in the entertainment and communication industries before joining Payment & Banking. She is also responsible for the structure, planning, implementation, and conception of all events.
Digital identities, eIDAS, and data analytics are expected to significantly impact the customer experience in the long run. These technologies will provide secure, seamless, and personalized experiences, enhancing the overall efficiency of the payment industry.
In conclusion, the payment industry is evolving at a rapid pace, with digital currencies, European initiatives, embedded finance, and AI leading the charge. Dr. Carlos Nasher provides valuable insights into these topics, offering answers to pressing questions about the industry's current status and future outlook.
- The integration of technology, such as AI, has become essential in streamlining digital identities and data analytics, ensuring a secure and personalized user experience in the evolving payment industry.
- In the ever-changing dynamics of the payment market, understanding and capitalizing on opportunities brought about by digital currencies, like central bank digital currencies, and embracing technology-driven innovations, such as embedded finance, is crucial to maintain a competitive edge.
