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Paymentscardsandmobile.com: „Don’t bank on a fully digital future!” PSPs and banks should be planning for an “omnichannel” future, rather than pure digital.

11 septembrie 2023

Consumers in the US are following their counterparts in Europe and turning away from branch banking after a slow start. „Meanwhile Europeans, who have been more advanced in their digital bank journey, now appear to be hitting a plateau with almost one in three EU consumers saying they still prefer to pay with cash.” according to paymentscardsandmobile.com.

While two-thirds of Americans, or some 220 million people, are projected to hold digital bank accounts by 2030, there has been much discussion about how far those accounts are used compared to traditional, in-person branch banking.

The phenomenon of “digital ghost” accounts is familiar in Europe, with Revolut’s chief executive claiming that “UK consumers don’t like us for some reason” in an interview with The Times of London in early May 2023.

In brief, the impression has been that consumers will sign up for digital services – but end up using their traditional bricks and mortar bank.

Payments Cards & Mobile Opinion:
Don’t bank on a fully digital future. Amidst the hype of recent years, the reality of consumer intransigence is making itself felt. While the US may be waking up to the power of digital, the more advanced markets of Europe are now seeing its downside, not least in terms of privacy concerns and what happens in the event of a technical system failure.

Most recently, the UK has joined Norway and Sweden in guaranteeing the right to access cash, while Swiss citizens look set to reject a move to all-digital payments in an upcoming referendum.

As our own research and other sources have confirmed, consumers are far from ready to take the leap from mixed payment methods to all-digital – and PSPs and banks should be planning for an “omnichannel” future, rather than pure digital.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?