Payments Insights from Mobile World Congress 2019

For those attending Mobile World Congress 2019, the excitement around 5G networks and fold‑able smartphones was palpable. Yet beneath the surface, the event also spotlighted critical trends shaping the future of payments and commerce.

Andre Stoorvogel, Director of Product Marketing at Rambus Payments, summed up the conference: “MWC consistently delivers insights into the big trends that truly matter for payments and commerce.”

Securing IoT Commerce

The rapid expansion of online and IoT payments is thrilling but also exposes merchants to significant risk. Estimates predict that retailers could lose up to $130 billion (€114 billion) to card‑not‑present fraud over the next five years.

Payment tokenisation has already proven highly effective for in‑store mobile payments, but the need for a fully tokenised digital ecosystem has never been more urgent. Tokenisation eliminates the storage of sensitive card data, thereby reducing fraud risk without adding friction to the buying journey.

Consumer sentiment aligns with this shift. A Mastercard study revealed that discussions around tokenisation reached more than 11 million people, underscoring growing demand for secure, privacy‑focused payment solutions.

Tokenisation, Together

As connected commerce becomes increasingly complex, collaboration across the ecosystem is essential to deliver the trust and convenience consumers expect.

Both Mastercard and Visa emphasized the importance of partnerships. Mastercard highlighted how trusted relationships accelerate tokenisation adoption, while Visa spoke of entering a “new era in money” that requires collective effort.

Tokenisation’s influence extends beyond card payments, touching account‑based transactions, cryptocurrencies, and digital identity. Coordinated action will be key to unlocking its full potential.

Living in a Material World

Despite the surge in online commerce, physical payments remain vital. A striking demonstration from Spain’s Banco Sabadell showcased a live NFC payment via a chip embedded in a volunteer’s finger—raising questions about the future of biometric and wearable payments.

While such extreme use cases may be early, the broader industry is already prioritizing the in‑store experience. The goal is a seamless omnichannel journey where mobile wallets and other flexible platforms add real value to consumers.

Is Trust Returning to Crypto?

Samsung’s launch of the Galaxy S10, pre‑loaded with a cold‑storage wallet for cryptocurrencies such as Bitcoin and Ethereum, marks a pivotal step toward normalising digital asset storage and use. After a $1 billion (€0.88 billion) theft from exchanges in 2018, secure, user‑friendly solutions are essential to rebuild confidence.

Secure storage and transfer of crypto assets, coupled with improved user experience, could unlock the vast potential of blockchain technology.

From Imagination to Implementation

MWC’s showcase of 5G‑enabled, foldable devices underscores the pace of technological advancement. For the payments sector, staying ahead means delivering simple, secure, and seamless transactions across all devices and channels.

While the implementation landscape is complex, the momentum is clear: collaboration, tokenisation, and innovative payment methods are driving the industry toward a more secure, customer‑centric future.

The author of this article is Andre Stoorvogel, Director of Product Marketing, Rambus Payments.