Imagine living in a country with two different economies: one for business and the wealthy few, using cards and electronic payments; and one for everyone else, using cash. It’s a story defined by inequality. Now, imagine living in a community where most people don’t have a bank account, but nearly everyone has access to a mobile phone. This is already the picture for most of the 260 million people living in southern Africa. The rapid spread of mobile technologies offers a unique chance to make a real difference to economic development and financial inclusion – and as India is showing, payments infrastructure is key. At BankservAfrica, we want to be part of that change.
This panel is blazing the path forward, demonstrating leadership and ingenuity through new approaches and themes in service delivery for online and mobile channels. EnStream’s Chief of Digital Services Robert Blumenthal will lead the discussion to review emerging digital identity and authentication services, that thwart identity theft and allow Canadians to transact with trust. The audience will learn through real-market commercial examples, how EnStream is working together with Canadian Financial Institutions and lenders, to help bring exciting next-generation solutions to market.
While more than six out of ten smart phone owners have made a mobile payment over the past six months, the vast majority of these have been remote payments (bill payments, or transfers, online payments, etc.). In-store mobile payments have struggled to gain traction. This presentation will provide insights into the opportunities and challenges facing mobile payments in Canada and compare it to other jurisdictions. It will also identify the key factors that having been holding mobile payments back.
A lot of payment innovations took place in China, Singapore, Japan and Korea in the past 5 – 10 years. Adoption of mobile payment took off at an accelerated pace, especially in China. The WeChat and Alipay ecosystems are growing with more innovative payment technologies that Canadian banks and businesses should pay attention to. What is applicable to the Canadian payment landscape? What are fads vs. real payment innovation?