Payment leaders discuss the impacts of new payment methods at The SUMMIT Series webinar

As new payment methods emerge, how are financial institutions and payment providers considering these new options and launching new payment products in their market? With the pace of digital transformation accelerating, how can payment leaders ensure that strategy — and not just the latest technology — drives decision-making?

The latest edition of The SUMMIT Series, entitled Strategies for new payment methods, delved into these questions and more. Hosted by Robyn King, Director, Industry Relations at Payments Canada, the hour-long discussion featured four panelists from organizations from across the payment ecosystem: Tracy Legass, Financial Services Industry Solution Executive at Microsoft Canada; Cassie Wong, Head of Payments and Partnerships at Paypal Canada; Jeff Adamson, Chief Commercial Officer and Co-Founder at Neo Financial; and Dougal Middleton, Vice President, Enterprise Payments at Scotiabank and chair of the Payments Canada Member Advisory Council.

Throughout, the conversation centered on technological advancements and changing consumer behaviours. More specific topics included the use of artificial intelligence and machine learning for fraud detection and improved customer service, the potential of blockchain technology for cross-border payments, how open banking and APIs are important to innovation and the increasing adoption of real-time payments.

The session concluded with the importance of collaboration across the ecosystem to combat fraud effectively. Here, the panelists discussed the need to balance the customer experience with security through an approach that involves advanced technology and data sharing.

The SUMMIT and Payments Canada would like to thank all the panelists and attendees for making this valuable conversation possible.

Interested in keeping the payment conversation going? Join us from May 29 to 31 at The SUMMIT in Toronto! To register, visit thesummit.ca.