EditorialThe Future of the Payment EcosystemThe onset of the Covid-19 pandemic has unleashed several counteractive measures such as social distancing, lockdowns, and other restrictions that are driving people to switch to online modes to purchase essentials. As consumers now are more likely to shop from the safety of their homes to protect against the virus, financial institutions are experiencing an explosion in digital payments. A constant need for public hygiene at checkout, along with heightened demand for convenient ways to make and receive payments, has significantly bolstered core segments of digital payments, such as mobile proximity payments, digital wallets, and peer-to-peer (P2P) payments. While the pandemic will eventually subside, its unprecedented and significant impact on payments and banking will be the 'new normal'. As financial institutions have so far ensured the availability of digital modes of payment without any major disruptions, it is impossible to predict how the crisis will play out in the coming years. In order to assess the impact of COVID-19 on digital payments and prepare for unforeseen situations, financial institutions must quickly adapt to shifting consumer behaviour and market reality by rounding out their digital payment ecosystem, both in terms of infrastructure and services. Banks need to expand access to digital touchpoints securely while ensuring round-the-clock availability for their customers. Given the accelerated shift in payment behaviour and fintech disruption, the path forward for the market incumbents is clear - adapt or wither. On that note, we present the insights of the most promising Payment and Card solutions providers - Europe 2021 to help organisations explore and unlock perspectives that translate to desired business and operational outcomes. Let us know your thoughts.Royce D'Souza Managing Editoreditor@cioapplicationseurope.comEditorial StaffBen Jackson Ezra BenjaminJames SmithCalvin JamesSenior WritersLeah JaneClara MathewJoe PhillipSalesJennifer.Sjennifer.s@cioapplicationseurope.com 510.996.5125Graphics & ArtScott JuasyJohn Gotham*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffContact Us:Phone: 510.996.5125Email:sales@cioapplicationseurope.comeditor@cioapplicationseurope.commarketing@cioapplicationseurope.comJULY - 6 - 2021, Vol 05 - Issue 7 (ISSN 2644-2531)Published by ValleyMedia, Inc.To subscribe to CIO Applications EuropeVisit www.cioapplicationseurope.com Copyright © 2021 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.Royce D'SouzaManaging EditorRoyce D'Souza
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