Future of payments: trends and challenges with Lilly Pavlou of QUBE Events

Lilly Pavlou, Executive Director at QUBE Events, shares the latest payment trends and challenges, and how QUBE Events can help professionals stay ahead of them.

Recent trends in the payments industry are transforming how businesses and consumers interact with financial services. A key trend is the rise of contactless and digital payments, fuelled by the COVID-19 pandemic. Digital wallets and mobile payments are favoured for their convenience and security. The growth of Buy Now, Pay Later (BNPL) services, especially among younger consumers, is also notable, pushing traditional banks to offer similar products. Cryptocurrencies and blockchain technology are gaining traction, with blockchain enhancing transparency and cross-border transactions. Additionally, artificial intelligence and machine learning are becoming crucial in fraud detection and customer service, analysing transactions in real time. Finally, there is a growing collaboration between traditional financial institutions and fintech companies, leading to innovative payment solutions that combine the strengths of both sectors.

Several emerging trends are set to shape the future of payments. A key trend is the increasing role of artificial intelligence (AI) and machine learning in enhancing fraud detection and personalising customer experiences. As AI evolves, expect innovations like predictive analytics for financial management and AI-driven customer support.

The rise of embedded finance is another significant trend, with financial services seamlessly integrated into non-financial platforms like ecommerce and social media, offering more convenient, one-stop-shop experiences. Decentralised finance (DeFi), built on blockchain, is also poised to disrupt traditional financial systems, enabling peer-to-peer transactions without intermediaries and potentially democratising financial services.

Sustainability in payments is gaining momentum as consumers and businesses seek environmentally conscious solutions, leading to the development of green payment methods.

Finally, evolving regulatory frameworks will continue to shape the payments landscape, requiring companies to navigate new regulations and standards to ensure safety, security, and fairness as new technologies and business models emerge.

Payment professionals today face a rapidly evolving landscape with several significant challenges. One of the biggest is keeping up with technological advancements. As new payment technologies and platforms emerge, professionals must continuously update their skills and knowledge, especially in a global industry where different regions adopt technologies at varying speeds.

Regulatory compliance is another major challenge. The payments industry is highly regulated, with constantly changing laws and regulations. Professionals must stay informed about new domestic and international regulations and implement effective compliance strategies, requiring both regulatory knowledge and practical application.

The rise of digital payments has also heightened the threat of cyberattacks. Payment professionals must protect systems from breaches and fraud while ensuring a seamless user experience. Balancing security with convenience demands ongoing vigilance and investment in advanced security technologies.

Moreover, consumers now expect fast, seamless, and personalised payment experiences across various methods, from mobile wallets to digital currencies. Payment professionals must ensure their systems are secure, flexible, and capable of delivering a smooth user experience, which requires continuous innovation and deep customer insight.

Finally, the growing need for efficient cross-border payment solutions poses another challenge. Cross-border payments are often slow, expensive, and complicated by regulatory, currency, and infrastructure differences across countries. Payment professionals must streamline these processes, ensure compliance, and manage currency exchange risks, all while navigating diverse international regulations.

Qube Events supports payment and compliance professionals by offering cutting-edge knowledge, networking opportunities, and practical tools to stay ahead in a rapidly evolving industry.

We bring together leading experts, innovators, and thought leaders to share insights through keynote speeches, panel discussions, and workshops that cover the latest trends, technologies, and regulatory developments. Attending our events allows professionals to gain a deep understanding of industry challenges and opportunities, helping them anticipate changes, adapt strategies, and implement best practices within their organisations.

Networking is a key benefit of Qube Events. We create an environment that fosters collaboration and knowledge-sharing, enabling professionals to exchange ideas, discuss challenges, and explore new opportunities. Structured networking sessions, roundtable discussions, and informal social events help attendees build valuable relationships with peers, industry leaders, and potential partners from around the world.

In summary, Qube Events provides access to expert insights, tailored content, and networking opportunities, empowering professionals to navigate industry challenges and drive success in their organisations.

Qube Events covers a broad spectrum of topics relevant to current industry trends, professional challenges, and opportunities for growth. A key focus is digital transformation in payments, including digital wallets, contactless payments, and fintech's role in reshaping financial services. As the world digitises, these topics are crucial for any organisation in the payments sector.

Regulatory compliance is another critical area, addressing issues like anti-money laundering (AML), Know Your Customer (KYC) requirements and data privacy laws. We help professionals navigate the evolving regulatory landscape to avoid potential pitfalls.

Cybersecurity is also a major concern, given the expanding threat landscape due to digital payments. Our events discuss the latest threats, security best practices, and technologies like encryption, blockchain, and AI-driven fraud detection to maintain trust in the financial ecosystem.

Innovation and emerging technologies are central, with a focus on how blockchain, AI, and other advancements are creating new solutions and competitive advantages. We also emphasise customer experience, covering personalised payment solutions and the integration of payment systems with other digital services to differentiate providers in a crowded market.

Finally, we explore cross-border payments and financial inclusion, crucial in a globalised economy. We examine how payment innovations can facilitate smooth international transactions and extend financial services to underserved populations, aligning with economic development and global commerce goals.

About Lilly Pavlou

Lilly Pavlou is an accomplished Executive Director and B2B Events Specialist with over 20 years of experience within leading global events organisations. She excels as a conference organiser, marketing strategist, and business development director, known for her expertise in orchestrating impactful events and forging strategic partnerships. Lilly's extensive background in business development and her passion for innovative marketing solutions have established her as a trusted leader in the industry, driving success through dynamic and engaging B2B events.