We’re experiencing a time when a single factor– the COVID-19 pandemic – is reverberating throughout all aspects of civilization, around the world. Societal norms are in flux as people social distance, the infrastructure of the healthcare industry is being tested, and the economy is being disrupted on local and global levels. In a recent roundtable discussion, PYMTS.com brought together six panelists from the banking, fraud and financial industries to discuss what payments will look like post-COVID-19.
As we navigate through this crisis and pivot to adapt to the effects of the virus, we do what we do best – look to leverage these pivots to make the future better.
One major theme that emerged from the roundtable is the ‘forced’ digitization of business processes that’s resulting from adjustments organizations have had to make in reaction to the impact of COVID-19.
Which makes a lot of sense when you think about it. For instance, as retailers and restaurants closed their doors to patrons and started offering touchless curbside pick-ups, as banking customers turned towards online products and services, and as AP/AR teams shifted to remote work and eliminated the option to have executives sign-off on checks, it became clear that the old way of making payments wasn’t going to cut it any longer.
To hear the panel deliberate on the topic of what payments will look like post-COVID-19, join these industry experts and listen in on the full roundtable discussion to find out how the pandemic has played a role in accelerating payment automation. The roundtable is the latest session in a series focusing on “Powering the Digital Shift”, hosted by Karen Webster, CEO of PYMNTS.com.
For further insights into the payments industry and beyond, subscribe now and stay up-to-date on the latest tips, trends, and topics. You can also check out The Payments Podcast, where industry experts weigh-in on real-time factors impacting payments, fraud and small businesses.