Our guest contribution below is provided courtesy of Mohammed Moiden Bava, Functional Consultant at our Corporate member, Expleo Group. Feel free to contact him on LinkedIn to find out more about how Expleo can help you navigate the complex world of transformation as a trusted technology partner.

Payments have become an integral part of everyday life. Whether we’re buying groceries with a mobile wallet, paying bills online, or sending money to friends, it all happens quickly and quietly. What used to be a separate task now happens effortlessly as part of our daily routines.

Looking ahead, payments will become even smarter, faster, and more secure. This evolution is being driven by new technology, updated regulations, and people’s growing expectations for safety and convenience.

From my experience in banking and payments, the future will be shaped by three key forces: Trust, Technology, and Transformation. These will help create a world where payments are not only easy and safe but accessible to everyone.

1. Trust – The Foundation of Every Payment

Trust is what makes payments work. Whether you're buying a coffee or sending money abroad, you want to feel confident that your money and personal information are safe. Even the best technology won’t matter if people don’t feel secure using it.

As payments become more digital and global, trust becomes even more critical. People want their payments to be private, safe, and dependable, whether they’re tapping a phone, scanning a QR code, or sending money online.

Regulations play a key role in building this trust. Initiatives such as India’s Unified Payments Interface (UPI) have made digital payments transparent, fast, and secure for millions of users. In Europe, frameworks like the Payment Services Regulation (PSR) and PSD2, as well as the forthcoming PSD3, set clear rules to protect consumers, ensure strong authentication, and reduce fraud. To strengthen trust even further, banks are now required to make instant euro transfers widely available and safer through additional measures such as name/IBAN cross-checks (commonly referred to as Verification of Payee). These checks, along with stronger authentication, give customers more confidence that their money is going exactly where it should.

Digital identity also plays an important role in building trust. Systems in countries like Estonia simplify authentication, reduce fraud, and make payments faster and more convenient. Pairing these solutions with national or EU-recognised digital identity wallets allows customers to approve payments quickly while reducing fraud and the risk of unauthorised access.

Key takeaway: Trust is the foundation of all financial transactions. Without it, innovation cannot thrive.

2. Technology – Making Payments Smarter, Faster and Seamless

Technology is transforming the way we pay. Traditional methods like cash and cheques are being replaced by mobile wallets, contactless cards, and biometric authentication. These tools make payments quicker, simpler, and more secure.

One major trend is frictionless payments, where you don’t even have to think about the transaction. In stores like Amazon Go, you just grab what you need and walk out. The payment happens automatically, without a checkout line.

Artificial Intelligence (AI) is now embedded directly into the flow of payments, making transactions faster, safer, and more reliable. It analyses transactions, device signals, and customer behaviour in real time, while human oversight manages unusual or complex cases. By combining explainable AI models with automated evidence collection, banks can act swiftly while maintaining transparency, strengthening fraud prevention and reinforcing the trust that future payments depend on.

Beyond security, AI is transforming the payment experience by enabling personalised, context-aware interactions, such as real-time credit decisions, tailored budgeting tools, and actionable financial advice. Conversational finance is also growing, with AI-powered agents guiding customers seamlessly via voice or text to manage spending, answer queries, or execute complex transfers.

Looking ahead, AI will influence every dimension of payments: accelerating cross-border transactions, revealing the carbon impact of each payment, and providing insights that connect payments more closely to financial wellbeing. Banks and payment providers that embrace AI will make payments smarter and safer, while also creating new opportunities for growth, inclusion, and deeper customer engagement in the digital economy.

Real-time payments are becoming standard. Systems like India’s UPI, Brazil’s PIX, and the UK’s Faster Payments allow money to move instantly, changing expectations for individuals and businesses alike. Cross-border payments are also improving. Initiatives like SWIFT GPI and RippleNet make international transfers faster and more cost-effective. In Europe, the European Payments Initiative (EPI) aims to create a simple, fast, and secure payment solution across multiple countries, showing how technology can unify systems and make transactions more convenient.

Key takeaway: Technology: powered by AI, is making payments smarter, faster, and more user-friendly, reshaping how we interact with money.

3. Transformation – Making Payments Inclusive and Sustainable

Payments are no longer just about speed and convenience; they’re also helping to make financial services more inclusive and environmentally responsible. Even today, billions of people lack access to formal banking, but digital payments are helping to bridge that gap.

Platforms like UPI show how mobile wallets and affordable smartphones can empower individuals. With just a phone and an internet connection, people can pay bills, send money, and fully participate in the economy, improving financial inclusion and independence.

Sustainability is becoming an increasingly important focus in payments. It becomes tangible when customers can see it: showing carbon impact for each transaction, offering digital receipts, or providing greener delivery options at payment time encourages responsible choices without adding extra steps. Digital payments also cut down on paper, and some banks now offer eco-friendly cards or tools that track the carbon footprint of spending. These changes help people make greener choices and give banks a clear way to report progress on their climate goals.

Transformation also means smarter systems. With AI, real-time monitoring, and better integration with other digital services, payments are becoming more seamlessly integrated, making everyday life simpler, safer, and more efficient.

Key takeaway: Transformation is about making payments work for everyone, more inclusive, more sustainable, and more intelligent.

Conclusion

The future of payments is full of promise. With strong rules and secure digital identities, we can build trust. With smart technology, payments will become faster, safer, and easier. And with ongoing transformation, more people will be included, and we can support a more sustainable world.

But this future isn’t something one group can create alone. Banks, governments, tech companies, and everyday users all have a role to play. By working together, we can build a payment system that’s fair, reliable, and ready for everyone.

Payments aren’t just evolving - they’re becoming a powerful tool to connect with people, support progress, and make life simpler.