What’s ahead in 2017?
In payments and beyond, few could’ve predicted how 2016 would go. From the growth of omnichannel to a renewed focus on security, payments only expanded in scope and importance throughout the year. Over at LinkedIn, our CEO Henry Helgeson has some predictions about how payments will move forward in 2017
. We take a peek at a couple of them below to give you a sense of his thinking about what’s next in payments.
1. 2017 will be the year of Apple Pay
Henry’s been on the record for a while now that Apple Pay’s the next big thing. Obviously, even as there has been steady growth, Apple Pay hasn’t yet gotten to the ubiquitous level that people predicted back when Tim Cook announced it in 2014. Still, Henry remains bullish on Apple Pay for a variety of reasons, first among which is targeted marketing:
The loyalty and discount offers wrapped into the Apple Pay experience will be the tipping point that will finally change consumer behavior and drive substantially greater usage—something merchants are looking forward to. It’s not the technology that’s been holding Apple Pay back, it’s just that Apple hasn’t yet fully unleashed its marketing rocket fuel.
2. Hyperlocal will explode in significance
We know you’ve seen it—the growth of “buy local.” Whether your friend buys IPAs from nearby breweries or your significant other shops on Small Business Saturday, it’s become an unavoidable demand among consumers. But there’s still plenty of room to grow, as Henry notes, and this year, hyperlocal could be a much bigger theme as small local retailers gain access to the tools and technology the giants use:
Innovations in payment technologies will quickly break down barriers for smaller merchants, giving them the same cutting edge options as major retailers and making them more nimble, customer-focused and competitive. While small merchants don’t have the scale to deploy something as sophisticated as a Starbucks-style app, they will be able to easily find unique technologies which won’t require a big tech team to get off the ground and manage—and they’ll level the playing field that way.
Henry’s got plenty of other predictions to offer about 2017 in payments. If you want to find out more about his thoughts on the industry, check out his LinkedIn page with the complete post
—and make sure to check in again in the future. He’s always got plenty to say about payments.