News & Views - Savantor

Anticipating 2016

Wednesday, 09 December 2015
2015 was quite a year regarding the outlook for payment technologies. Contactless payments have continued to gain wide acceptance with consumers embracing the convenience and showing a greater level of comfort with the idea of ditching that PIN that everyone had previously been told was so important to the security of EMV. The redefinition of a "low value payment" towards the end of the year has also helped to open up the market to wider opportunities for contactless payments. Off the back of the rise in contactless, the adoption curve for wearables has been significantly flattened as key perceived barriers to their take-up (basically those associated to contactless payments) tumble. Even more so, the growth seen in mobile payments over the last 12 months could be laying out the future for more convenient payments over the coming years or even in just months. 2016 is certainly looking like it could be an interesting year for existing consumer payment technologies rather that the bleeding edge offerings. Alternative payments are still struggling to gain a foothold and may well fail altogether as the need for them may simply dwindle away. After all, beat the on-line fraud issues with “card” payments and perhaps we no longer need new payment methods as we could already have all we need. Savantor wishes the very best for 2016 to all our MarketEye readers.
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