Last week EveryPay attended the most prominent fintech event of the year – Money 20/20.
We were extremely excited to finally get back to business in real life and what better place to do that than at the world’s biggest fintech conference of the year?
Money 20/20 is the place where the boldest and brightest in fintech come together. Enterprise Estonia had organized a stand for the 12 Estonian companies taking part in the global event.
We had a chance to connect with new people and gather many ideas that empower fresh strategies and partnerships.
From global fintech leaders to tech giants and startups, Money 20/20 undoubtedly brought together the people that will ultimately solve the biggest challenges in the digital payment scene and define the future of fintech.
Our takeaway from this event – digitalization is inevitable and digital payments are here to stay.
A rapid growth in digitalization can not only be seen in e-commerce, but we are talking about all kinds of businesses. The global digital payments industry has seen many innovations over the past few years, including mobile wallets, P2P mobile payments, real-time payments, and cryptocurrencies. The vast digitalization is pushing the end-users to demand fast, frictionless and borderless payments whether for retail purchases or business transactions. More and more payments are cashless & contactless.
Some interesting facts regarding digitalization that we would like to share:
- It is forecasted that by 2023, over 1.31 billion people worldwide will be using mobile payments apps (eMarketer).
- The number of people using digital wallets will increase from 2.3 billion this year to nearly 4 billion, or 50% of the world’s population, by 2024 (Juniper Research)
- With e-invoicing the average cost to process a single invoice is 81% lower, while the average time to process a single invoice is 77% faster. (State of ePayables).
In conclusion, it is safe to say that companies who implement these changes faster will ultimately triumph and gain a significant advantage in the payment scene.
If you missed us at the event, but wish to know more about EveryPay, get in touch with us today at email@example.com.