What trend will make the biggest mark in payments technology over the next 5 years?
I ALMOST got one of my photography clients to pay me for a family photo shoot with bitcoin last weekend! I want to see this happen.
It feels like BitCoin will never happen at this point, but boy, do I wish I had bought some in 2009!
The question is difficult. If "mark in payment technology" mean fundamental difference in how payments will work, I would say Blockchain. However, I decided on "digital assistants and wearables" based on what the biggest changes will be from the consumers point of view. Block chain is still an unknown concept to most, and most people think it is synonymous with BitCoin, but it can affect every angle of ownership including title/deed/contracts etc. I have read 2 books on it and still don't get it .
I think the actual thing that will make the biggest difference is that cellphone based payments will finally take over. The technology is all there, lined up, fairly mature, but adoption is fairly low. However, a couple months ago I heard something I had never heard before. I was going into a local pizza place as a couple of young women (early 20s?) were walking out. The one said to the other "Oh, well, let's go find another place that accepts Apple Pay.". So, they actually walked out of the place because the only means they had to pay was their cell phone. I bet in 5 years, that will be commonplace that many people do not walk with individual cards in their wallet, but just carry their cell phone.
However, I put my vote on Blockchain, out of those choices. I think the technology has great potential, especially for frictionless, international payments.
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