Global Payments Day 2020 powered by Raif took place

Raiffeisen Bank Aval became the general sponsor of the conference Global Payments Day 2020, which took place on October 29, – in the current environment the organizers held it in online mode.

The international conference initiated by the Ukrainian interbank Association of payment systems members EMA put together the best experts in global payments area. The participants discussed the topical issues of global payments, incentives and obstacles for their development in 2020, development of an ecosystem for the global electronic trade.

In particular, it was noted that the current year’s circumstances were a very powerful trigger for the development of cashless payments. All market participants – banks, payment systems, and fintech companies made maximum efforts to make payments quick and convenient for the user. On the other hand, we faced insufficient development of infrastructure and low financial literacy of the general public.

Oleksii Puzniak, head of PI Products Division of Raif, spoke at a panel discussion on the topic “Global payments -2020 –   development drivers and setbacks.

“In the West, the customers are currently moving from neobanks to traditional banks, because apart from convenience, customer started to value reliability and stability more, he noted. In Ukraine the number of customers who carry out cross-border transactions grows on an annual basis, in particular, because of IT freelancers. Therefore, we must strengthen our work over the improvement of payment instruments, services and regulations. I am sure that by joint efforts of banks, associations and the regulator we will be able to adapt the available procedures to the current reality and market needs”.

#RaifNews