The European payments landscape in 2030

In partnership with Consult Hyperion, independent experts in payments and identity, Marqeta conducted a series of workshops with 12 industry dignitaries to gain expert opinions on where the market is heading over the next 10 years. Marqeta combined the insights from the workshop with findings from a 2,037-consumer survey done by Propeller Insights of consumers in the UK. The survey and workshops examined the potential issues and innovations that may emerge in the next decade of payments. Findings include:

According to the survey, only 22% of respondents would be comfortable with AI selecting the most ethical way to pay. However, The emergence of smart, AI-driven wallets as a mainstream form of payment raised an engaging debate among experts around the future role of financial education.

Disappearing cash raises concerns for many around exclusion, with ‘cash tribes’ of people who find it difficult to move to digital payments, or who simply do not want to – such as the elderly, the unbanked, and digital skeptics. By 2030, what would it take for digital currencies to be more inclusive for all? 

In the future, we could see more extreme instances of consumers being swayed to adopt new payment technologies by social media influencers and tribes. Consumers seem willing to embrace this and futuristic payment methods, with 51% of consumers surveyed saying they would consider using a microchip implant to pay.