The European payments landscape in 2030

The potential issues and innovations that may emerge in the next decade of payments in Europe

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:

  • There is an appetite for AI-powered smart wallets, with 31% of 18–24-year-old survey respondents saying they would be comfortable with AI making automated decisions on their behalf to choose the most ethical way to pay.

  • While 32% of surveyed consumers find the idea of ambient commerce ‘creepy,’ experts believe given how quickly Uber and the like have been accepted as a norm, the convenience would soon win people over. 

  • A no-cash generation is already a concern, with 35% of survey respondents admitting they worry that young people will struggle with learning to budget or to save without physical cash.

Will AI replace the need for financial education? 

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.

Can digital currencies, instead of cash, be built to be inclusive for all? 

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? 

Will ‘tribes’ and influencers play a key role in payment adoption in 2030? 

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.

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