Crystal ball – What will the Australian payments landscape look like in 10 years?

Predicting the future of the payments landscape is no longer just about predicting innovation within a payment channel. We’re seeing growing diversity in the development of user facing technology and applications, from an array of mobile wallets using near field communication, through to the enablement of social channels like Twitter and Facebook for the sharing of money. At the same time we are naturally seeing the decline in volume and value of traditional paper-based payment options like cheques. Click here for the APCA 2011 Annual Review.

Consumer convenience and security appear to be the dominant driving forces – how do you see the landscape changing in the next ten years? What new innovation are we yet to see, and will there be any further paradigm shifts?