How to make the payments ecosystem easier and more accessible to all

Aurelie Dayde, Head of Product Management Innovative Payment Cards at Giesecke+Devrient shares how G+D enables an accessible and inclusive payments ecosystem

Participation and accessibility are fundamental values of our society. In this spirit, the financial industry is advancing, ensuring that everyone has the freedom to engage with financial services without unnecessary barriers. Now is the time for action and involvement, championing the right to accessible payment experiences for all, and fostering a movement towards inclusivity.

In a diverse, inclusive society, ease of payment is a universal expectation. Yet, not everyone experiences this reality. Obstacles still persist, limiting, sometimes even excluding individuals with impairments or disabilities from seamless payment transactions.

G+D is committed to working with the banks to create greater accessibility for all. With the More Accessible Payments (MAP) initiative, we are creating a platform for the creation of a barrier-free financial ecosystem where unrestricted access to payment transactions and services is the norm. Two aspects are central to this: fostering an inclusive culture and delivering innovative technological solutions tailored to people's unique abilities, ensuring equal opportunities for all.

Regulations and acts such as the European Accessibility Act or the W3C Web Content Accessibility Guidelines (WCAG) lay down essential legal frameworks, representing a commitment to social and ethical responsibility that transcends basic legal compliance. Inclusivity is not merely a policy; it's a mindset—an ethos. This commitment is becoming a critical deciding factor for discerning customers who seek out financial institutions that not only promise inclusivity but also practice it through the tangible design of their services. The future success of banks is increasingly measured by the real-world inclusivity of their offerings. While the journey toward full inclusivity is just beginning, it is guided by the needs and expectations of customers, serving as a guiding principle in the industry's pursuit of accessibility for all.

At the core of inclusive banking services lies the customer experience, characterised by a unique blend of physical and digital interactions—a 'phygital' reality. The traditional strategy of segmenting target groups and offering standardised solutions is increasingly inadequate in this context. This shift presents a clear mandate for banks: ensuring access to services has taken into account the physical, cognitive, social, geographical, or technical accessibility needs.

The required technological innovations for achieving this go beyond their initial intent, significantly enhancing the appeal of bank services for all customers. These advancements not only address specific needs but also elevate the overall customer experience, marking a pivotal step in banking evolution.

For instance, biometric authentication processes offer a prime example. While simplifying mobile service access for people with visual impairments, they simultaneously enhance the experience for the entire customer base. This fusion of responsible practice and elevated service quality not only fortifies a bank's brand identity but also builds trust and loyalty among customers. Additionally, it underscores a bank's commitment to a contemporary corporate strategy in the eyes of stakeholders.

Embracing the ethos of ‘It’s all about the execution’, G+D has devised a suite of solutions for barrier-free payment transactions, exemplifying the power of co-creation. Collaboration between banks, non-governmental organisations, large technology companies and the disability community is paving the way for more inclusive financial services. This includes online onboarding for those unable to visit bank branches, featuring QR-supported audio content and an intuitive card activation process. Additionally, G+D is enhancing physical card accessibility, incorporating tactile elements like Braille to cater to a wider range of needs.

The further development of customised digital payment formats makes it easier for older people and other demographic groups to use them. Sophisticated biometric authentication methods, adhering to international standards, offer secure and convenient verification processes.

These initiatives, born from collaborative efforts, mark critical steps toward greater accessibility in payments and banking. They reflect a commitment deeply ingrained in the values and service ethos of banks. To achieve these goals, banks must ensure they engage in effective partnerships, harnessing the best support and expertise available.

About Aurelie Dayde

Aurelie Dayde has more than 15 years of experience in the card manufacturing industry. As Head of Product Management at G+D since 2021, she is responsible for the development of innovative payment cards. She is particularly passionate about alternative materials, new technologies and more recently accessibility and inclusion, and encourages collaboration with all industry stakeholders to bridge the current gap with smart solutions that make payments accessible to all.

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich. G+D makes the lives of billions of people safer. The company creates trust in the digital age, with integrated security technologies in three business areas: Digital Security, Financial Platforms, and Currency Technology. G+D was founded in 1852 and today employs more than 14,000 people in 123 subsidiaries and joint ventures in 40 countries.