As an analyst, I earn my living answering the question: “What’s happening in payments?” At risk of destroying my primary source of income, I’m going to tell all of the people asking that question a little secret: “You’re asking the wrong question!” There is, in fact, a much better and more important question you should be asking and that will have a much bigger impact on payments than anything actually happening in payments. That question is: “What is happening outside of payments that will affect the payments industry?”

The answer to this question is convergence. The convergence of communications of all types into online and mobile technologies is the single biggest thing happening in every industry. This trend already has revolutionized many industries and will continue to revolutionize many more, and each revolution will take a little piece of the payments industry along. –

Pay Before, July 24, 2014