PAY360: Kosta Du and Industry Experts Discuss Fundamental Changes in the Payments Industry

The PAY360 conference, one of the most significant events dedicated to UK payments, recently convened in London, attracting over 2,000 senior representatives from various sectors, including banks, merchants, government, investors, fintechs, financial institutions, card providers, consultants, and solutions providers. The conference aimed to provide participants valuable insights and foster collaboration across the entire value chain.

A prominent speaker at the event, Kosta Du, highlighted the global community's call for fundamental changes within the financial sector. Recognising that significant changes cannot be implemented instantly, Kosta Du shared his team's achievements in providing the possibility of accepting card payments for micro-enterprises. This crucial step enables these small businesses to thrive and potentially grow into international corporations in the future.

In addition to Kosta Du's insightful presentation, the PAY360 conference featured keynote addresses and panel discussions covering various aspects of the payments industry. Marion King, chair of the Open Banking Implementation Entity (OBIE), emphasised the importance of open banking in modernising financial infrastructure. Louise Hueting, head of payments product at Lloyds Bank, discussed the future of payments and the response to the cost-of-living crisis, highlighting the significance of real-time payment infrastructure.

One of the final panel sessions explored the contentious issue of whether cashless retail should be illegal, with speakers such as Matteo Dessi from The Payments Association and Natalie Ceeney, chair of Access to Cash, debating the importance of maintaining access to cash in an increasingly digital world.

The PAY360 conference was a fruitful meeting ground for industry leaders and innovators to address the challenges and opportunities in the ever-evolving payments landscape. By fostering collaboration and knowledge sharing, participants left the event with a clearer vision of the future and a roadmap for navigating the complexities of the payments industry.

Kosta Du's presentation and other experts' contributions showcased the dedication and innovation required to drive positive change within the financial sector. As the industry transforms, events like PAY360 serve as a critical forum for collaboration and growth, ensuring that the UK payments ecosystem remains adaptive and resilient despite emerging trends and technologies.