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Defining and defending the future of payments

Evolution in technology is enabling more ‘things’ to connect more often around the world, at a pace that’s showing no sign of slowing down. By 2020, 70% of people across the world will be smartphone users and countries in Asia, Africa and the Middle East will account for 80% of the new subscriptions. More people currently have access to a mobile phone than a clean toilet, safe water or reliable energy – and their prevalence is expected to keep growing.

This has led to the inevitable widespread adoption of generic cloud and social technologies in emerging markets with access to freeware or inexpensive public services such as Gmail and Dropbox. While this holds great opportunity for developing countries, the rapid spread of technology compounds a broader issue concerning infrastructure. Within the developed world, the fines payable for not protecting personal data are hefty in regulated industries such as financial services and healthcare.

Read the full article at Information Age.