Experts explore digital wallets' growth and importance at FMLS 2023.
Sandra Mianda, Founder/CEO at Paypr.work, and David Tirando Blanco, VP at Revolut, discuss digital wallets.
The
rapidly transforming landscape of financial technology was the highlight of a
recent fireside chat at the Finance Magnates London Summit 2023. Experts in the
field, Sandra Mianda, the Founder and CEO at Paypr.work, and David Tirando
Blanco, the VP at Revolut, engaged in a thought-provoking discussion about the
evolution, current status, and future of digital wallets.
The Rise and Evolution of Digital Wallets
Sandra
Mianda set the stage by emphasizing the phenomenal growth of digital wallets,
which are expected to exceed 4.4 billion globally by 2025. "From open
wallets designed to support a wide range of payment mechanism to closed wallets
with brand-specific features, digital wallets are going to reach about 5.6
billion or 65% of the global population by 2030," she noted. Sandra
highlighted how digital wallets have transitioned from straightforward
financial tools into sophisticated instruments integral to modern finance.
David
Tirando Blanco elaborated on this evolution, focusing on the expansion of
functionalities within digital wallets. "We have started to bring
additional features and verticals into this [... enabling] additional insights
on financial management," David stated. He described the journey from
simple payment functions to more complex services that enhance customer
experience and financial health.
The
conversation delved into the segmentation of digital wallets, clarifying the
often-interchangeable terms used in the industry. Sandra explained the
differences between open, semi-closed, and closed wallets, each catering to
specific user requirements and market segments.
the VP at Revolut identified consumer engagement as a key driver for the growth of digital
wallets. He pointed out the potential in sectors with high customer engagement,
like social media and e-commerce, to capitalize on and accelerate the adoption
of digital wallets.
Interoperability and Emerging Trends
A
significant trend in the digital wallet space, as discussed by the speakers, is
the growing interoperability among different wallet types. David highlighted
initiatives like Visa+, which are creating seamless connectivity between
various wallet platforms, enhancing user convenience and transactional
flexibility.
Looking
towards the future, both Sandra and David agreed that AI and government-led
initiatives would significantly influence the digital wallet sector. David
envisioned digital wallets integrating administrative tasks and digital
identities, simplifying interactions with governmental services.
The
discussion also touched on the challenges and opportunities that lie ahead for
digital wallets. David remarked on the competition from big tech companies and
the need for digital wallets to continuously innovate to maintain relevance. He
emphasized the potential for digital wallets to become more than just payment
instruments, evolving into comprehensive platforms that cater to a wide range
of consumer needs.
Digital Wallets: A Staying Trend
In
conclusion, the session at the Finance Magnates London Summit 2023 made it
clear that digital wallets are not just a passing trend. They are an expanding
and consolidating force in the financial sector, supporting a growing array of
use cases. As the industry continues to evolve, driven by consumer needs and
technological advancements, digital wallets are set to play an increasingly
pivotal role in shaping the future of finance.
Sandra
and David's insights at the summit underscored the dynamic and exciting
trajectory of digital wallets, marking them as an integral component of the
global financial ecosystem in the years to come.
The
rapidly transforming landscape of financial technology was the highlight of a
recent fireside chat at the Finance Magnates London Summit 2023. Experts in the
field, Sandra Mianda, the Founder and CEO at Paypr.work, and David Tirando
Blanco, the VP at Revolut, engaged in a thought-provoking discussion about the
evolution, current status, and future of digital wallets.
The Rise and Evolution of Digital Wallets
Sandra
Mianda set the stage by emphasizing the phenomenal growth of digital wallets,
which are expected to exceed 4.4 billion globally by 2025. "From open
wallets designed to support a wide range of payment mechanism to closed wallets
with brand-specific features, digital wallets are going to reach about 5.6
billion or 65% of the global population by 2030," she noted. Sandra
highlighted how digital wallets have transitioned from straightforward
financial tools into sophisticated instruments integral to modern finance.
David
Tirando Blanco elaborated on this evolution, focusing on the expansion of
functionalities within digital wallets. "We have started to bring
additional features and verticals into this [... enabling] additional insights
on financial management," David stated. He described the journey from
simple payment functions to more complex services that enhance customer
experience and financial health.
The
conversation delved into the segmentation of digital wallets, clarifying the
often-interchangeable terms used in the industry. Sandra explained the
differences between open, semi-closed, and closed wallets, each catering to
specific user requirements and market segments.
the VP at Revolut identified consumer engagement as a key driver for the growth of digital
wallets. He pointed out the potential in sectors with high customer engagement,
like social media and e-commerce, to capitalize on and accelerate the adoption
of digital wallets.
Interoperability and Emerging Trends
A
significant trend in the digital wallet space, as discussed by the speakers, is
the growing interoperability among different wallet types. David highlighted
initiatives like Visa+, which are creating seamless connectivity between
various wallet platforms, enhancing user convenience and transactional
flexibility.
Looking
towards the future, both Sandra and David agreed that AI and government-led
initiatives would significantly influence the digital wallet sector. David
envisioned digital wallets integrating administrative tasks and digital
identities, simplifying interactions with governmental services.
The
discussion also touched on the challenges and opportunities that lie ahead for
digital wallets. David remarked on the competition from big tech companies and
the need for digital wallets to continuously innovate to maintain relevance. He
emphasized the potential for digital wallets to become more than just payment
instruments, evolving into comprehensive platforms that cater to a wide range
of consumer needs.
Digital Wallets: A Staying Trend
In
conclusion, the session at the Finance Magnates London Summit 2023 made it
clear that digital wallets are not just a passing trend. They are an expanding
and consolidating force in the financial sector, supporting a growing array of
use cases. As the industry continues to evolve, driven by consumer needs and
technological advancements, digital wallets are set to play an increasingly
pivotal role in shaping the future of finance.
Sandra
and David's insights at the summit underscored the dynamic and exciting
trajectory of digital wallets, marking them as an integral component of the
global financial ecosystem in the years to come.
Coming from a background in English Education, Tom joined Finance Magnates in Autumn 2020, originally as a Content Specialist and Proofreader in his first year. Having completed three successful years with the FM News desk, he has since worked with the team as both an editor and a proofreader.
Previously, he spent almost two decades in the field of education, working around the globe at different institutions and companies, which has influenced him considerably after being immersed in various cultures and business environments.
Now fully developed in this field, he is relishing the challenge of constantly adapting to the ever-changing fintech industry and all the developments that arise.
He holds a bachelor's degree in Marketing and a higher diploma in English Teaching from Cambridge University.
Click Here to Disrupt: Pay by Bank's Revolution in Online Payments
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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