As this year’s EBAday approaches, there is plenty of talk about what the retail payments landscape of the future will be like. Just as recent years have seen rapid change in this field, this trend only seems set to gather pace.  So what is on the cards for the coming years?

In the run-up to 2020, we are seeing convergence and mobile technology as the hallmarks of the changing market. By 2020, customers will expect to access banking services and make payments with a single click and a seamless user experience.  So what will drive this change?

The EBA's Electronic and Alternative Payments Working Group anticipates that non-banks will continue to spearhead innovative payments techniques. This pressure will compel many banks to accelerate their own development process so they can bring their own innovative payment platforms to market. But what of the laggards?

Inevitably some banks will not be able to keep up with the forthcoming change. Failing to invest in renovating their payments structure will render some institutions unable to meet customer demands for quick and simple retail payments.

For forward-thinking institutions the dilemma is not how to stay afloat, but how to thrive. One promising way to flourish in the brave new world is to embrace technology and turn to partners to deliver game changing payments solutions. Many of these potential partners will be exhibiting again this year at EBAday!