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BizReport : Ecommerce archives : December 28, 2015

What won't happen with payments in 2016

While many experts are predicting the rise of e- and m-commerce in the New Year, and an overall increase in online revenues, one expert believes there are three trends that simply won't happen in the commerce space.

by Kristina Knight

Virtual currency is a no

It's been five years since Bitcoin hit the online space. That craze led to many headlines about virtual currency taking over. . .but that hasn't happened. And, according to the experts at Kount, virtual currency won't take over 2016, either.

Connected cards are a no

"Many predict that 2016 will be the year of the connected or automated car. While more and more new cars will be wirelessly connected to mobile devices, truly "smart" self-driving cars wont be introduced to the masses this soon; leaving this innovation safe from fraudsters for at least another year. That doesn't mean fraudsters won't develop applications to scan your Internet-ready vehicle. Cars that allow interaction with your smartphone are left as wide open as public access Wi-Fi (of course, 68% of us still use free, public Wi-Fi, despite the voice in our heads that warn us of the risks in doing so...but that's commentary best saved for another list)," write the Kount experts.

New payment innovations are a no

Kount's experts believe some of the early payment innovators will begin to consolidate in 2016 as consumers latch on to their favorite payment options and go full-speed ahead with those favorites. They won't, Kount believes, look for newer payment options but will instead become content with their preferred options.

Image via Shutterstock

Tags: ecommerce, Kount, mcommerce, mobile payments, online payments, payment trends

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