Payment innovations and war on cash at the conference “CEE and CIS Card Markets and Future Payments Solutions” 2014

Mon, 17 Nov 2014

On April, 9-10, 2014, the annual conference "CEE and CIS Card Markets and Future Payments Solutions", organized by SMI Group, took place in Sofia (Bulgaria).

During the first day of the conference speakers tried to answer the questions how modern card market in Central and Eastern Europe, combined with innovative payment solutions can meet the growing needs of users.

The main focus of the second day was position of the banks in the conditions of increasing competition between different payment market players, in a technological race, as well as filling the gaps between the bank and the customer expectations, fighting on cash with the help of modern payment instruments etc.

The key points of the event:

  • payment industry is experiencing very rapid changes;
  • payment service providers and banks are struggling with the habit of users to pay with cash;
  • low level of public confidence in the government and banks is resulting in prosperity of shadow economy in many CIS countries and Eastern Europe;
  • creative use of existing products, technologies and solutions;
  • competition is growing and more innovations appear;
  • effective risk management is very important for business in the financial market.