The Future of Payments according to Mastercard

Mastercard recently presented its latest Signals report, ‘The Future of Payments,’ exploring nine key, innovative trends reshaping the future of payments and commerce to usher in ‘The Next Economy’.

The report’s findings were shared with journalists from around Europe at a Media Showcase at Mastercard’s European Technology Hub in Dublin, Ireland, which a reporter from GOLD magazine and CBN attended.

The report focuses on three specific areas that will reshape the future of payments over the next 5-7 years, as well as in the long term: how we will expand the definition and use of money to include non-traditional assets (reimagining money); how consumer journeys will come to life with the intersection of virtual and physical worlds (intelligent experiences); and how cause-driven consumerism will significantly impact the way companies are valued by their stakeholders (sustainable futures).

According to the report, Mastercard believes innovation will transform commerce and usher in ‘The Next Economy’ by 2030.

Companies will use emerging technologies to make this possible, and empowered consumers will influence how this new era takes shape. Changes will include new types of money and ways to spend it, intelligent experiences that span physical and digital environments, and an intense focus on sustainability and inclusivity, the report goes on to note.

Signals is developed by Foundry, Mastercard’s in-house innovation lab and interdisciplinary team, that drives product innovation and differentiated services and, according to the company, ‘The Future of Payments’ is structured around the same pillars that have historically guided Mastercard’s innovation research and development, empowering the company to see past what’s happening now to understand what will happen next.

Click here to view Mastercard’s 'The Future of Payments' report.