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What will the future of payments look like?

With several years’ experience in the payment industry, Anders Riis is always exploring new payment methods.

As CEO and Founder of Swiipe Payments, Anders Riis believes we’re about to see some major changes to the payment industry as we know it today:

“When we shop online, we end up not buying 70 percent of what we put in our shopping bag. In 28 percent of those cases, it’s because it’s too time-consuming to check-out and pay,” Anders Riis explains and continues:

“In the future, we’re not going to have the time or patience to enter our shipping and payment credentials over and over again when we’re shopping online. The future of payments will be focusing on one-click buys and a more convenient checkout flow”.

That’s why he decided to start Swiipe Payments. A smart service that allows consumers to checkout and pay for their online shopping with one single click.

 

PSD2 beyond online payments

Even though Swiipe Payments is mainly focused on the online market, Anders Riis also sees the new payment directive PSD2 as an opportunity to create new payments methods in physical shops.


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According to him, biometrics could be a big challenger to the credit card industry:

“If we can use voice recognition to perform payments, then PSD2 can really be applied outside of the online payments. Imagine you’re about to pay for your groceries in your local store, and the only thing you have to do is say that you would like to pay with your current account. Hands-free and device-free. That could really change things,” Anders Riis says.

What do you think the future of payments will look like? Join the debate and share your thoughts in the comments below. We’re always curious to get new perspectives from different industries.

 

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