November 08, 2021

IBS Intelligence

The Future of Payments

The world payments report 2021 published by Capgemini found that nearly 45% of consumers frequently use mobile wallets to make payments up from 23% in 2020. Furthering this trend, Gareth Priest, Chief Platform Officer talks about the soaring of cross-border payments.

The bottom line, according to Gareth Priest, Chief Platform Office at Bottomline, is that cross-border payments are set to soar. "First, global trade and international payments are growing and will continue to grow after a year of false starts due to virus variants and intermittent lockdowns. Second, Covid accelerated the digitisation of all payment types and cross-border was desperately in need of escaping its analog processes. Consider that wire transfers, which are slow and lack transparency are still one of the most frequently used methods of cross-border payments...

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