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The Futures of Money 2012
Will connectivity be an issue?
Will the global economy favor new money?
Who will regulate new money?
Will emerging LDCs influence our business?
How will consumer behavior affect transactions?
Will cash have any value?
What are the key questions?
Privacy
Interoperability
What new technologies can we harness?
Standards
Governance
What are the security and privacy concerns?
1913
Federal Reserve Act
Security
Why is this important?
Age
- Money evolves.
- Spenders are going digital.
- Technologies are transforming payments.
- Competitors are emerging rapidly.
- Businesses want lower transaction costs.
Will urbanization change spending patterns?
How will digital literacy affect our business?
1944
Bretton-Woods
Conference
1970s
Rigidity of structure
Demographics
First electronic
systems
16%
E.U. online spending growth in 2012
Source: Kelkoo, 2012
Business
culture
Urbanization
2004
1.25
Debit surpasses
credit
Willingness to adopt
Billion dollars spent on Cyber Monday 2011
Source: ComScore, 2011
2008
Visa introduces
Visa Mobile
$7bn
In expected mobile payments via PayPal in 2012
Source: PayPal, 2012
Digital literacy
Disposable income
Lifestyle
Global
economy
Spending behavior
What are the key drivers?
Emerging LDCs
Penetration
Innovation
Technology
Adoption
Weak governance
Costly
Chaos
Centsless
Silos
Money 2027
"Low" technology
"High" technology
Exploring the futures of money, finance, and transactions for the Visa Board of Directors
Luddite Livin'
Strong governance
No Money,
No Problems
What are the scenarios?
Joan Hsu | Lauren Barnett | Danielle Haigh | Samhir Vasdev
Delivered March 30 2012
- Ensure versatile payment infrastructure
- Reinforce security and privacy efforts
- Build trust with consumers and SMEs
"High" technology
Centsless
Silos
Weak governance
- Ensure versatile payment infrastructure
- Strengthen government lobby
- Build trust with consumers and SMEs
Discussion
Money 2027
No Money,
No Problems
- Fortify security measures
- "Stay the course"
- Build trust with consumers and SMEs
Costly
Chaos
Strong governance
- Invest in R&D
- Strengthen government lobby
- Build trust with consumers and SMEs
Recommendations for Visa
"Low" technology