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The Payments Association – 2024 payments trends

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To be attributed to Tony Craddock, Director General of The Payments Association
“The rise of certain technologies like generative AI in 2023 has heralded a great deal of transformative change that will shape how the payments industry develops in 2024. As these changes become more apparent, it is imperative that the payments sector cooperates to enable consumers to pay and be paid securely and conveniently.
“The three factors that will inform the payments sector over the next year will be the rise of innovative digital currencies, the new initiatives that will serve to combat APP fraud, and the importance of proportionate regulation. All three of these were highlighted in The Payment Association’s Payments Manifesto.”
“It’s imperative that we foster a flourishing digital currencies ecosystem, starting with stablecoins, or S-Money, as it is now known. This requires global interoperability, ensuring seamless transactions across borders and platforms. We must also attract talent and investment from around the world to fuel innovation and growth in this burgeoning space. In short, we need to run towards innovation, not away from it.”
“Meanwhile, we must constantly err towards the best interests of the consumer and that means combatting APP fraud, which has become a significant threat to the integrity of our services. Cross-industry data sharing is essential to effectively identify and prevent fraudulent activities. By working together, we can safeguard consumers and businesses alike.”
“Finally, we must strike a balance between innovation and regulation. In recent years, the regulatory pendulum has swung so far towards consumer protection that the entrepreneurial fire of innovation is being snuffed out. A proportionate regulatory framework is crucial to fostering responsible growth and protecting consumer interests. We must avoid stifling innovation with overly burdensome rules and enforcement of them while also ensuring that our systems remain sufficiently safe and secure. By embracing innovation, collaborating to combat fraud, and advocating for proportionate regulation, 2024 can be a year where payments are more secure, convenient and accessible to all.”
“Thinking even further into the future, here are my additional predictions:
“Open Banking: In the face of rapidly increasing fraud and new regulations around consumer duty, Third Party Payment Providers (TPPs) will need to implement enhanced fraud prevention tools to drive confidence in open banking payments and protect consumers against losses (like card scheme-based liability protection mechanisms, including chargeback dispute resolution). As the growing need for consumer protection increases the cost of open banking payments, the business case for such payments will be diminished for merchants.”
“Open Finance: As companies recognise the potential of data and AI, they will refocus their open banking efforts from payment initiation (Payment Initiation Service Provider – PISP) to data utilisation (Account Information Service Provider – AISP) to improve accuracy, efficiency, and customer experience. The data angle will become even more beneficial as we evolve into Open Finance with the participation of non-bank financial institutions, such as mortgage, insurance, pension, and investment companies.”
“Wallets: Consumers will increasingly leave the house without physical cards or cash and will demand the acceptance of digital and mobile wallets with biometric authentication to make purchases both online and in person. Merchant failure to accept popular wallets will increasingly result in shopping cart abandonment, which has already reached 70% in the case of eCommerce, due to the friction involved in needing to have the physical card available. Additionally, QR codes will increasingly be introduced across the customer journey, including information, membership, ticketing, loyalty, ordering and payments.”
“Super Apps: Wallets and digital banks will endeavour to increase their ubiquity, usage, and customer engagement by evolving into super-apps. To achieve this status, they will broaden their service offerings to customers, including investing, lending, savings, loyalty, and P2P payments, as well as embed commerce and high engagement activities through lite apps, such as shopping, ticketing, transportation, delivery, or messaging. Consumers, particularly Gen Z and Millennials, will increasingly adopt such wallets due to subscription fatigue, convenience, and slick user experience.”
“Digital Currency: The percentage of UK adults owning cryptocurrency was over 10% in 2022, compared with 4.5% in 2021, which shows a growing interest in crypto assets. In 2022, 28% of non-crypto asset holders said that they would be more likely to buy cryptocurrency if the market was regulated. Additionally, it is becoming much easier to obtain crypto assets through popular wallets, like PayPal and Revolut. As merchants observe this growing trend, they will explore new ways of accepting popular cryptocurrencies, such as Bitcoin and Ethereum to gain a share of spend. As acceptance increases, so will the adoption of crypto assets, creating a flywheel effect. (Note: The figures in the US are more than double that of the UK, which may propel big tech companies in the US to accept cryptocurrencies more widely than in the UK.)”

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Race Estoril Track With F1 Legend Barrichello During SBC Summit 2025

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SOFTSWISS, a global tech provider with over 15 years of iGaming expertise, invites SBC Summit Lisbon delegates to take a spin on the iconic Estoril Formula One circuit on 16 September 2025. The experience features remote-controlled car racing on a true-to-scale replica of the track. The programme begins at 10:00 with an opening race at Space EN08, with the circuit then open all day for drop-in challenges and networking.

At 10:00 on 16 September, a showcase race on the Estoril mini‑track will bring together Rasmus Sojmark, CEO & Founder of SBC, Rubens Barrichello, F1 legend and Non‑Executive Director for Latin America at SOFTSWISS, and Ivan Montik, Founder of SOFTSWISS. Delegates are welcome to cheer on the participants and then take the controls themselves on the very same circuit layout.

Beyond the track, Barrichello and Montik will also appear together on the Super Stage for their fireside chat, Excellence Under Pressure: Evolving in a Fast‑Moving Space. Taking place on 16 September, the discussion will explore the shared disciplines of motorsport and iGaming innovation, highlighting how speed, reliability and agility translate into long‑term business advantage. Barrichello will also share lessons from F1’s rapid technological changes, while Montik will show how SOFTSWISS applies similar agility in iGaming, innovating quickly while ensuring compliance and stability.

The SOFTSWISS team looks forward to meeting partners and friends throughout the show. Visit us at Stand B160 to explore collaboration opportunities and learn more about our product ecosystem.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS provides certified software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 30,000 casino games, the Affilka affiliate platform, the Sportsbook Software and the Jackpot Aggregator. The expert team counts over 2,000 employees.

The post Race Estoril Track With F1 Legend Barrichello During SBC Summit 2025 appeared first on European Gaming Industry News.

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GLI Returns as Sponsor of the Regulators’ Roundtable at EEGS 2025

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The Eastern European Gaming Summit (EEGS) proudly announces that Gaming Laboratories International (GLI) will once again return as a sponsor of the highly anticipated Regulators’ Roundtable at EEGS 2025, taking place on 27–28 November at Inter Expo Center, Sofia.

As the global leader in testing, certification, and professional services for the gaming industry, GLI has supported regulators, suppliers, and operators across more than 480 jurisdictions worldwide for decades. With a strong mission to ensure integrity, fairness, and transparency, GLI plays a pivotal role in shaping a trusted and sustainable global gaming environment.

The continued sponsorship of the Regulators’ Roundtable underscores GLI’s dedication to fostering dialogue, collaboration, and knowledge exchange between regulators and industry stakeholders. As one of the flagship sessions of EEGS, the Roundtable offers an exclusive platform to address pressing regulatory challenges, explore innovative solutions, and discuss strategies that will define the future of the sector.

EEGS 2025 will once again unite regulators, operators, suppliers, and thought leaders for two days of high-level discussions, networking, and knowledge sharing, reinforcing its position as the leading forum for gaming innovation and regulation in Eastern Europe and beyond.

Learn more & register here: https://eegamingsummit.com/register-for-super-early-bird-ticket/
For any sponsorship availabilities, see here: https://eegamingsummit.com/sponsorship-2025/

Together with partners like GLI, EEGS continues to be the meeting point for innovation, regulation, and collaboration in the gaming industry.

The post GLI Returns as Sponsor of the Regulators’ Roundtable at EEGS 2025 appeared first on European Gaming Industry News.

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Trigger Xtreme Power: A 400% Deposit Bonus Plus 30 Free Spins Await on Thor Hammer Strike at SlotsCapital.lv

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SlotsCapital.lv, launches thunderous new Norse-themed slot by Rival, Thor Hammer Strike, and all new players are invited to claim a god-sized 400% Deposit Bonus plus 30 FREE SPINS on the game throughout September 2025.

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The post Trigger Xtreme Power: A 400% Deposit Bonus Plus 30 Free Spins Await on Thor Hammer Strike at SlotsCapital.lv appeared first on European Gaming Industry News.

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