Shaping the future of payments at Money 20/20

November 4 2016

The Worldpay team spent a busy and exciting five days in Las Vegas last week as a sponsor, speaker and exhibitor at Money20/20, the payment industry’s largest annual trade show and conference.

The event began with more than 400 developers gathering to compete in the largest fintech hackathon in the world. With more than $125K worth of prizes at stake, developers spent 24 hours collaborating to solve one of nine different sponsor challenges, including one from Worldpay.

Our challenge asked developers to use Worldpay’s new omni-channel payments platform Worldpay Total to create an innovative app or solution that helps merchants elevate the buying experience. Participants competed for a chance to win a prize package that included a $1,000 gift card, Oculus Rift + ASUS Oculus Ready G20CB-WS71 Desktop PC Bundle, Everyday Backpack 30L, and a Kickstarter-based gear bag perfect for carrying the Oculus Rift bundle. Overall, more than 100 solutions were created during the 24-hour competition. Frog came out with the most innovative solution to Worldpay’s challenge and went home with the suite of prizes.

Once the event was underway, the conference brought in more than 10,000 attendees and hosted numerous panel discussions, presentations, and exhibition booths sponsored by more than 3,000 companies from 75 countries. On the second day of the conference, Worldpay Global eComm Chief Product and Marketing Officer Kevin Dallas presented the results of Worldpay’s 2016 Global Payments Report, a compilation of data on payment preferences and trends in 30 countries. The report suggests China, the U.S. and the U.K. will continue leading the charge in e-commerce, but the growing fragmentation around the world is changing the way consumers pay – as more niche alternatives like mobile wallets, bank transfers and prepay cards continue to steal market share from more traditional payment options like credit cards.

The payment preferences of today’s consumers have become increasingly diverse, as shown in the report, and the ability to cater to those needs has never been more challenging for merchants. That’s why Worldpay US launched Worldpay Total at Money20/20, a new omni-channel payments platform that simplifies the payments process for businesses. Previously available in the U.K., Worldpay Total delivers end-to-end payment processing by combining POS, integrated payments and acquiring for ISVs and merchants through a single integration point. The Worldpay team performed live demos of the new product at the exhibition booth throughout the show.

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