We've been back for slightly over a week and we still can't help but discuss all the exciting information we learned at this year's All Payments Expo (APEX 2016). Between one-on-one meetings, keynote speakers, and roundtable discussions, the payments industry is more robust than ever before.
Some key highlights from APEX 2016 included:
Fraud
Fraud and security have become major concerns for retailers, especially as sales continue to grow digitally. Necessary updated security protocols are being established that will keep bulk codes, e-gift card numbers, and gift cards safe. If security is compromised and fraud occurs, the retailer's brand is what will suffer in the end. Read more from
Risky Business: Fraud & security in the new payments ecosystem
Wearables
We've discussed wearables in great depths when it comes to
corporate health & wellness, but wearables are the future of payments too! Despite popular belief that mobile is the payment device of the future, Suresh Vaghjiani is confident that the easy, convenient, wearable technology will shape the future of payments. Here is a clip of Suresh discussing wearables as the future of payments:
Millennials
The Millennial population is gaining traction. Millennials are influencing not only payments but the way brands market themselves. Social media is a must, especially for instant feedback and gratification. This generation recently became the
largest generation in the workforce and they are expected to make drastic changes with how payments will be made in the future. Millennials no longer live in the 'exchanging cash for goods' world, which is something that banks and financial institutions will need to adjust to. Richard Steggall, CEO of Urban FT, discusses why alternative payments are so important to Millennials.
https://twitter.com/AllPaymentsExpo/status/712694271481155584
...and of course, we were sad when APEX 2016 had to end.
Did you make it to APEX 2016? If so, what were the most valuable things you learned at the event? If you didn't have a chance to make this year's expo don't worry, there's always next year!
