The payments landscape is undergoing a digital transformation. This transformation will impact how consumers transact, how companies work with partners in the ecosystem, how we set standards, and ultimately what the industry will look like in the years ahead.
Changes in the economy, advances in technology and consumer habits are driving demand for innovation in the way consumers transact with money. Financial services companies now have an opportunity to provide payment alternatives that better meet consumers needs, especially as the costs of more traditional options have changed dramatically over the years. The industry is at the forefront of new payment platforms that not only reflect the convergence of prepaid payments and new technologies, but will also simplify money management by eliminating confusing terms and fees.
Alpesh Chokshi, President, Global Payment Options, American Express will explore some of the factors impacting the industry, such as cultural and economic shifts, technology advances, and spending and saving habits, and will also discuss some of the initiatives American Express is pursuing to capture the significant opportunities redefining the payments industry.