Exploring Payment Trends at Money20/20 Europe: Insights from Micco
What are the current payment trends? I sought to answer this question during my visit to Money20/20 Europe in Amsterdam, and I am eager to share my thoughts on the matter.
Exploring Payment Trends at Money20/20 Europe: Insights from Micco
What are the current payment trends? I sought to answer this question during my visit to Money20/20 Europe in Amsterdam, and I am eager to share my thoughts on the matter.
The event showcased several "hot and interesting topics" that were prominently featured in booths and presentations. Here are some key takeaways:
Open Banking
Open banking technology has reached maturity, but its adoption in eCommerce is still limited to a few live cases. The UK and Nordics lead the way in embracing open banking, while numerous players compete for market share, leading to ongoing consolidation.
Crypto
While cryptocurrencies remain a "hot" topic, the bear market has dampened some of the enthusiasm. The question of how cryptocurrencies can become relevant in retail payments is yet to be answered. Issues such as anti-money laundering (AML) and regulatory concerns hover over all cryptocurrency initiatives.
BNPL (Buy Now, Pay Later)
Similar to crypto, the initial hype surrounding BNPL has subsided. Regulatory issues take center stage, but regional differences in the approach to regulation are not adequately differentiated. Only a few providers showcased their offerings with dedicated booths.
Startup Support by Countries
Countries like Estonia, Poland, and France demonstrated their commitment to supporting startups by hosting their own "country booths." Unfortunately, the presence of German startups was relatively low compared to other countries.
Notable Absences: Apple Pay, Google Pay, Amazon Pay, Klarna, and PayPal
It was unfortunate to observe the absence of prominent players such as Apple Pay, Google Pay, Amazon Pay, Klarna, and PayPal, who did not have their own booths or presentations. It appears that the program may have focused on sponsors or companies with dedicated booths. This oversight is surprising given the current relevance of these players in the industry.
Merchant Engagement and Booth Consolidation
Money20/20 has yet to attract many merchants to the conference, which is regrettable as peer-to-peer exchanges are particularly valuable. The trend of consolidation and cost-cutting has led to the disappearance of many booths, such as the combination of Nexi, Nets, and Concardis into a single booth.
Overall, the number of visitors was significantly lower than in previous years due to the ongoing impact of the pandemic, with an estimated 30-40% decrease. Nevertheless, meaningful conversations and worthwhile meetings took place, making the fair visit still valuable.
My Conclusion
While Money20/20 Europe provided insights into the mid- to long-term future of the industry, it offered limited visibility into the immediate changes expected in the next 1-3 years. Nonetheless, Money20/20 remains one of my favorite conferences for gaining perspectives beyond the German market and engaging in meaningful personal conversations.
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