TREND 1TREND 2TREND 3 TREND 4 TREND 5 GEN Z RISINGUX IS THE NEW GOLDMOBILE HIT ITS GROOVEREWARDS REVOLUTION THE NETWORK EFFECT TREND 6TREND 7TREND 8 TREND 9 TREND 10 FINTECH AND BANK FUSIONAN ARMS RACE IN CODEPAYMENTS EVERYWHEREFRAUDSTERS INNOVATE TOORIP AND REPLACE REQUIRED TREND 8 PAYMENTS EVERYWHERE Everyone can be a merchant—and every device can be an acceptance device. Payments players once controlled their own destiny in accepting payments. Now there is a proliferation of payments acceptance at the point of sale, online and on the go. Payments that were location bound are now device enabled. This shift points to a future of universal acceptance that will alter relationships between merchants, customers and payments intermediaries. In 1999, an unknown company had an idea that was before its time. The company had a vision to enable people to beam money to each other using their Palm Pilots. This proved difficult because individuals could not easily accept card payments. The company was PayPal and by focusing on solving the personal acceptance challenge, it changed everything. The Eureka moment was not about payments. It was about acceptance. More specifically about democratizing acceptance. Fast forward to today. In a world of PayPal, Venmo, Stripe and Square, there are countless ways that individuals and small businesses can accept payments. Take Stripe, which is behind billions in online transactions every year. Businesses of all sizes use it—from entrepreneurs selling out of their basements 6 to the likes of Lyft and Amazon. Not only can anyone accept cards now, they can do it from anywhere. All it takes is connectivity and a portable card reader to create the next-generation point of sale. Technology will continue to evolve how payments are accepted, and by whom. As a result, there will be a recalibration of the payments network as we know it. Take the relationship between cards and acceptance locations in the United States. The trend in recent years has been that card growth has outpaced merchant outlet growth. In other words, there are more cards than there are places that accept them. This gap will start to close as universal acceptance becomes a reality. Because unlike merchant locations, devices can scale one- to-one with card use. With that, the payment network becomes bilateral for the first time. Copyright © 2017 Accenture. All rights reserved. DRIVING THE FUTURE OF PAYMENTS 10 MEGA TRENDS | 11