The end of every year presents us with a time for contemplation, reminiscing on the events of the past 12 months, and an opportunity to set goals for the year ahead. In the spirit of the tradition of making personal New Year’s resolutions, this week is a good time for payments industry players to take stock of what happened in 2015 with the intention of making 2016 even better. What went on in payments in 2015, and what did those events and trends tell us about what’s coming in 2016? Further, what resolutions can merchant service providers (MSP) commit to pursuing in the coming year that will keep them competitive in a fast-evolving market?
The speakers at October 2015’s financial services convention Money 20/20 seem to have collaborated at some point before the show commenced to solidify common themes, and the buzzword of the week was “omnichannel.” Commentary on omnichannel solutions for an increasingly complex and varied retail market dominated panels, keynotes, and vendor discussions. Executives from industry giants—including Google, Facebook, Verifone, Chase, Vantiv, and Visa—contributed to the conversation surrounding the task of providing consumers with a truly omnichannel solution.