By: Andrew Torre, Regional President, CEMEA, Visa
Over the past 12 months digital transformation has continued to accelerate across all sectors, and commerce has been no exception. Even as society begins to normalize, with restrictions lifting and offices reopening, habits adopted during the pandemic are sustained.
Online and offline, spending has been transformed. Businesses that were brick-and-mortar-only adapted as online shopping became the only viable option in lockdown. In physical stores, the value recognized in touchless payments boosted the continued growth of contactless payments. Digital progress typically expected over a number of years was squeezed into just a few months.
While uncertainty and unpredictability are now expected, one thing that is clear is that that the future of money is digital. The pandemic accelerated change, but we have seen a permanent behavior shift to digital that is set to last far beyond. This is being supported by several innovative emerging trends that are set to unlock the power of digital money, and further reshape our payments world, and commerce more broadly.
Here are some of the most interesting areas to watch in the payments space over 2022.