Daumantas Dvilinska, CEO & co-founder at TransferGo, said that the rate of change from cash to digital payments is unprecedented: "People didn’t anticipate how quickly people would shift from cash... If you look at only... 2 years ago, cash was still dominating."
However, overall the public still trust cash payments over digital. Nick England, CEO at VFX Financial, thinks this will continue to shift with each new innovation: "The opportunities out there are huge, but it’s finding that right segment… It’s a balance between making things easy versus the risk involved in it."
"The next one that we’re really excited about is social commerce, so buying on social networks, things like Pintrest, Twitter, Facebook," said James Allgrove, head of growth at Stripe UK.
"It really brings the point of purchase really into the point of discovery… so when you find something you like, you can buy it straight away on the platform, and… everything is saved on the social network."