It’s back! Money 20/20 is just around the corner and it promises to be bigger and bolder than ever.
With excitement building and speculation rife, we predict some of the key trends likely to be shaping the conversation at this year’s installment.
Securing Mobile Payments
Over the past year, tokenization has further strengthened its position as the de facto method for securing mobile payments, underpinning platforms such as Android Pay.
The complexity of integrating tokenization into secure mobile products, however, is growing as the number of payment schemes, ‘OEM Pay’ solutions and mobile wallets within the ecosystem increase. A key discussion in Las Vegas, therefore, will be how best to connect with the various players quickly and easily.
In addition, many banks are utilizing cloud-based solutions to simplify the rollout of near field communication (NFC) services. Striking a balance between risk and usability is key to ensuring user adoption, so we can expect lots of talk about the hardware and software components that can be deployed to provide additional security to cloud-based payments.
Data is King
Advances in artificial intelligence and machine learning mean that data has never been more powerful.
The problem for banks is that the mobile payments revolution has made it harder and harder to control their own data. As the financial services market becomes increasingly fragmented, banks are at risk of losing out on the valuable information that enables them to adapt and innovate.
The ways in which banks can react to this evolving landscape and keep their data in-house, such as developing their own mobile wallet, will therefore be a key talking point at the event.
We Need to Talk About Blockchain
For some time now, blockchain has been the industry buzzword. The majority of the conversation to date, however, has been dominated by outlandish marketing hype.
The time has come for blockchain to grow up and get a haircut. Governance, regulation and strategic partnerships are not the most glamorous of topics, but they are crucial to ensuring that the technology can be translated into practical, deployable solutions and fulfil its vast potential. Expect the conversation to be focused more on red tape than blue-sky thinking.
The Future of Retail
Mobile payments are revolutionizing the purchasing experience, both in-store and in-app. As has become the hallmark of Money 20/20, we predict myriad announcements promising to make paying with your mobile device even more streamlined and rewarding. Watch this space.
To arrange a meeting with a member of the Rambus Bell ID team, please don’t hesitate to call +31 10 885 10 10 or contact us via email.
If you can’t join us in Las Vegas, don’t miss our post-event blog for an update on the biggest announcements and analysis of the key trends from the show. Also, check out our resource center for more information.