| | JUNE 20196CIOReviewFor decades, the payment sector had a cut-and-dried proposition with cash, paper checks or cards that served as the go-to payment methods. Those days are long gone. With today's overwhelming mix of virtual assistants, smartphone apps, and the Internet of things (IoT) devices, payments can be carried out digitally, anywhere, anytime. However, the advancements come with a new set of complexities, which the merchants must navigate through. As these new payment technologies strive to become ubiquitous, maintaining competency and reliable security while coping with rising consumer demands is a goal that is hard to achieve in today's volatile market. Payment service providers need to embrace innovation to keep up with customer expectations and redesign the value chain. The advent of digital payments trends and continued emphasis on seamless payments is quickly gaining popularity among the users, be it for online subscriptions, store payments or even cab rides, driving the future of payment ecosystem.Regardless of the technology implemented, security and ease-of-use are two aspects every payment service provider must diligently deliver on. From managing accounts and payouts to securing payment data and integrating various payment methods, an extensive payment solution must flexibly cover it all. While the mobile wallets take off in the direction finance analysts expect, they could be a significant boon for the fintech world with an enhanced transaction and overall payment experience. The progress does not stop there. As blockchain has taken over the financial industry by storm with Bitcoin, the payment segment is next. Though it is labeled as `coming soon', cryptocurrency has the potential to revolutionize and fortify multiple payment methods, whether it is over the internet, mobile devices, or even the cloud.While the payment methods continue to evolve, consumer technology does not trail far behind. Credit and debit cards alone no longer suffice for an average user, and that's where the card-to-cloud transition comes in. This allows the consumers to conveniently pay straight to a merchant's digital account by simply scanning a QR code with their smartphones. As these trends induce a new e-commerce vibe among the users through instant in-app payment bundled with friendly text conversations, the peer-to-peer (P2P) payment methods drive a real revolution in the fintech industry. To gear up for the future, we suggest our readers have a look at how these trends are disrupting the card and payment space.EditorialPayments Made EasyCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewContact Us:Phone:510-230-0395Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com JUNE - 20, 2019, Vol 08, Issue - 40 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffSalesAaron PierceCarolynn WaltersJustin SmithShirley FaithRussell ThomasRose DcruzRichard Watsonrichard@cioreview.comVisualizersIssac GeorgeDevid Parker*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin Smith
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