Mastercard Payments Summit 2022: A watershed event to discuss key trends in India’s payments sector and drive futuristic innovations
Over the last decade, the way we make payments has undergone breakthrough transformation. Cashless payment instruments have taken over both national and international payment markets, ushering in significant changes in how acquirers, gateways, processors, payment service providers (PSP) among others function and operate. This market shakeout has fundamentally changed user experience, pushing fintechs to create a digital ecosystem that is safe, simple and accessible to everyone in the economy.
Mastercard, one of India’s leading payment companies, is all set to host the long-awaited Mastercard Payments Summit on 22nd and 23rd September 2022 at ITC Grand Chola, Chennai. The Payments Summit, a Mastercard flagship event, is being held after a gap of two years and aims to bring together thought leaders and industry experts from the payments industry to exchange ideas, views and perspectives on the future of payments. All FIs in India including HDFC, ICICI, AXIS, SBI among others are expected to attend the Summit.
With a huge number of consumers adopting digital payments, especially during the pandemic, the need to discuss future-forward digital capabilities and technologies is high. The need of the hour is to make payments faster and safer, enhance the user’s experience, enrich decision making for all stakeholders involved and instil a greater sense of security for consumers. Technologies like Blockchain, AI, IoT, Metaverse, cryptos, NFTs, and others are set to become mainstream and will revolutionise the way we do business. The event aims to discuss these changes and highlight emerging trends in fintech, technology, security, and regulatory landscapes.
The Mastercard Payments Summit will see thought leaders talk about futuristic solutions that can drive innovation in the industry and pave the path for a stronger digital economy. Some of the top speakers at the event are Abhay Tandon, Head Digital and AI Innovation, TVS Motors, SS Mundhra, India Advisory Council, Mastercard, Sabyasachi Goswami, CEO Perfios, Ken Moore, Chief Innovation Officer, Mastercard and Sandeep Malhotra, EVP, Products and Innovation, Asia Pacific, Mastercard among other dignitaries.
The summit has a progressive agenda that aims to discuss some of the step changes that will cause significant transformation in the way we make payments. It will also see discussions by industry leaders on how the payments industry will be transformed with the aid of AI, Metaverse, Big Data, Cybersecurity, Open banking among others. The sessions and panel discussions will prioritise on key topics such as AI’s role in Metaverse; Open Banking; safeguarding consumers in the digital economy; analysing Big Data for smarter decisions and better outcomes; and winning affluent consumers.
Apart from the sessions, the Mastercard Payments Summit will also have a dedicated products & solutions demo area where Mastercard teams and partners will be showcasing their exciting and upcoming innovations such as:
- Cyber & Intelligence showcase – Risk Recon, ID Check Express demos
- Data & Services showcase – Case studies on how D&S insights and reports (Travel trends, Macro outlook) can help issuers meet their business objectives, Test & Learn solution, MIC, etc.
- AI Garage – AI Account intelligence – a solution to detect trends and consumer spending to augment decisions concerning risk and revenue
- Metaverse showcase – Paying with tokenized NFTs in Metaverse, Decentralised antique auctions etc.
Mastercard has emerged as a leader in the payments innovation landscape in India. Its initiatives have led to a behavioural shift among customers, in addition to bolstering digital commerce in the country.
The Organisation, as a global technology giant in the payments industry, has been spearheading the future of digital payments of India. The Mastercard Payments Summit 2022 is set to be a benchmark event that will further Mastercard’s work and help it in designing, developing, and deploying futuristic innovations to build the country’s digital economy.
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