Page 27 - Pay Magazine s2014

volume 8 • fall 2015
The use of plastic to enable purchases undoubtedly will be challenged in the next decade. In recent years, the B2B market has seen significant innovation in the area of virtual card solutions and, with the payment
volumes involved, this will only grow as more participants see the opportunities. In addit- ion, once the major barriers
to mobile payments such as lack of NFC infrastructure are removed, there will be serious momentum in this space to ensure full benefit is derived from using this form factor for payments.
We believe with the advent of the Apple Pay and Vodafone mobile payment initiatives in Europe, in addition to other innovative solu- tions to follow shortly, mobile will become
a serious challenger to plastic as a method of payment.
For now, plastic matters but the future will diminish this position as end users become more comfortable with alternative, more con- venient solutions.
—Andrew Downes,
general manager, Raphaels Payment Services
paybefore.com 25