Geek Girl Meetup: the future of payments
On Thursday 2nd July 2015 our Managing Director, Monica Chien, had the pleasure of sharing her business savvy at the GeekGirl Meetup in East London. The meet-up looked at the Future of Payments: a hot topic at the moment, especially in light of the advent of Apple Pay.
The ever-evolving world of payments is one that is both exciting and nerve-wracking; retailers need to be mindful of their customers’ needs AND of keeping up with their competitors when it comes to choosing a good payment gateway solution. Monica was amongst an array of experts who presented ways in which to master the changes in how we pay for services and products and the effects of these within the retail sector.
Her illuminating talk demonstrated how major Chinese companies like Alibaba and Tencent are leading the way in managing the evolution of payments, having managed to become integral to Chinese everyday life. Alibaba has now gained over half of the payment market share in China by enabling consumers to simplify their payment processes. For example, users can pay for goods and services internationally without falling foul of conversion rates; they can also use mobile payments to pay for their shopping with their phones. By combining innovation with exceptional user experience Chinese companies have benefited hugely, rightly becoming a source of inspiration to businesses in the West.
