the future of online payments

2
Food The Arts Beaches Green Spaces Live music venues TOP REASONS TO VISIT THE WINDY CITY FUN FACTS ABOUT CHICAGO 4 states are visible from the top of the Willis Tower: Indiana, Illinois, Michigan, and Wisconsin. One of the largest collections of Impressionist paintings is found at the Art Institute of Chicago. Chicago is home to the finest art galleries. The Art Institute of Chicago has more than 300,000 works. Tripadvisor hails it as the world's #1 museum. This city is in love with jazz and blues, as well as music festivals and concerts of all kinds. If you're lucky, catch a show by the Chicago Symphony Orchestra. There are over 500 gardens and parks to explore in Chicago. One of this is Millennium Park, where you will find the iconic Cloud Gate metal sculpture. At 23.5 miles, Chicago’s Western Avenue is the world’s longest continuous street. An average of 35 million visitors and tourists flock to Chicago every year. Think that Chicago is just for urban-dwellers? Think again. Chicago has 26 miles of shoreline, 26 beaches, and an 18.5-mile bike path along Lake Michigan. There are over 4,700 restaurants in Chicago. The city is home to some of the world's most elite chefs at the forefront of cutting- edge cuisine. Architecture 50 Billion Near Field Communication(NFC)- the technology behind Visa payWave- is already used to make contactless payments. But since NFC can be used by mobile phones, wearable technology or even under your skin, will eventually kill the credit card? 19% Imagine being able to use your existing credit card number forever, on any card. It's an idea proposed to make the credit card industry more competitive, as it would be easier to switch providers without having to update your number everywhere. 2.7mill UK customers aged over 70 are now registered to use internet banking, and more than 600,000 of these people are 80+. Mobile and internet-based transactions continue to grow, moving more transactions online on putting pressure on physical stores mobile payments a week nearly of of all transaction in US stores Tools for faster online checkout and payment are emerging. Paypal, Visa Checkout, Apple Pay and Google Pay are virtual wallets already operating in various global locations, and when combined with increasing online spend, may become the standard wallet of the future. Visa payWave already removes the need forPIN transactions under 100$. Now and in the future, the PIN number might be entirely replaced by facial, eyeball, fingerprint and voice recognition software to identify you and authorise transactions. Bitcoin and other virtual currencies offer instant, cheap and secure ways to pay, and have gained transaction despite concerns surrounding ilegal activity and tax avoidance. Some economists foresee them being used as tools to help stimulate, complement or entirely replace existing border-based currencies. The Future of Online Payments

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Page 1: The Future of Online Payments

AvW Chicago2400 West

Food

The Arts

Beaches

Green Spaces

Live music venues

TOP REASONS TO VISIT THE WINDY CITY

F U N F A C T S A B O U T C H I C A G O

4 states are visible from thetop of the Willis Tower:Indiana, Il l inois, Michigan,and Wisconsin.

One of the largest collections ofImpressionist paintings is found

at the Art Institute of Chicago.

Chicago is home to the finest artgalleries. The Art Instituteof Chicago has more than 300,000works. Tripadvisor hails it as theworld's #1 museum.

This city is in love with jazz andblues, as well as music festivalsand concerts of all kinds. If you'relucky, catch a show by the ChicagoSymphony Orchestra.

There are over 500 gardens andparks to explore in Chicago. One ofthis is Millennium Park, where youwill find the iconic Cloud Gatemetal sculpture.

At 23.5 miles, Chicago’sWestern Avenue is the world’slongest continuous street.

An average of 35 millionvisitors and tourists flock to

Chicago every year.

Think that Chicago is just forurban-dwellers? Think again.Chicago has 26 miles of shoreline,26 beaches, and an 18.5-mile bikepath along Lake Michigan.

There are over 4,700 restaurantsin Chicago. The city is home tosome of the world's most elitechefs at the forefront of cutting-edge cuisine.

Architecture

The number of mobile payment transactionsis forecasted to be near

50 Billion in 2015

Killing Credit CardNear Field Communication(NFC)- the technologybehind Visa payWave- is already used to makecontactless payments. But since NFC can be usedby mobile phones, wearable technology or evenunder your skin, will eventually kill the credit card?

19% of British willconsider to pay

good andservices using

voiceauthentification

by 2020A single numberImagine being able to use your existing creditcard number forever, on any card. It's an ideaproposed to make the credit card industrymore competitive, as it would be easier toswitch providers without having to update yournumber everywhere.

2.7mill UK customers aged over 70 arenow registered to use internet banking,and more than 600,000 of these people

are 80+.

online shopping grew

30%2014

Less store based paymentsMobile and internet-based transactionscontinue to grow, moving more transactionsonline on putting pressure on physical stores

8 million mobile payments a weeknearly of 19%

of all transaction in US stores

Wallets become virtual

Tools for faster online checkout and payment are emerging.Paypal, Visa Checkout, Apple Pay and Google Pay are virtualwallets already operating in various global locations, and whencombined with increasing online spend, may become the standardwallet of the future.

PIN number numberedVisa payWave already removes theneed forPIN transactions under 100$.Now and in the future, the PIN numbermight be entirely replaced by facial,eyeball, fingerprint and voice recognitionsoftware to identify you and authorisetransactions.

No Currency borders

Bitcoin and other virtual currencies offer

instant, cheap and secure ways to pay,

and have gained transaction despite

concerns surrounding ilegal activity and

tax avoidance. Some economists foresee

them being used as tools to help

stimulate, complement or entirely replace

existing border-based currencies.

The Future of OnlinePayments

Page 2: The Future of Online Payments

185m European consumers areexpected to use mobile payment

apps this year

Turkishare the most advance in mobile payments.

56%

Turkish

used mobile

payment app

will spendmillion

on

35minutes

every

27%

of global online transactionsare now on mobile

Lorem ipsum dolor sit amet, consectetur adipisicing elit,sed do eiusmod tempor incididunt ut labore et dolore magna

smart phone

Just 6% of iPhone6 owners regularlyuse Apple Pay, and85 % had nevertried it – as ofMarch 2015

The mobile NFCpayments market will

hit $130bn by 2020mobile payments

will reach

in the next5 years

$3 trillion

Sourceshttps://www.hottopics.ht/stories/finance/25-stats-that-tell-you-everything-about-the-state-of-mobile-

payments/

http://www.irishtimes.com/business/financial-services/irish-consumers-spend-record-28bn-on-their-

visa-cards-1.2079838

https://www.worldpaymentsreport.com/

http://www.theguardian.com/commentisfree/2015/feb/22/can-a-parallel-digital-currency-solve-the-

greek-financial-crisis

41,016 investors have putmoney into the 1,100 mobile

payments companiesregistered on the Angelist

site

By Noelia Sierra, E­Marketing, IBAT College,Dublin