The future of value transfer - Rob Galaski - Deloitte

In this keynote address, Rob Galaski, Vice-Chairman & Global Managing Partner at Deloitte discusses innovation in payments.

The way we think about payments today is dated and limiting our ability to prepare for the future. As an industry, we need to think about the broader lens of value transfer. This view considers the movement of fiat and non-fiat currencies (both digital and physical), assets, fractions of assets, entitlements, and most importantly, underlying transaction data. Only by expanding our definition of ‘value’ can we envision the enabling systems of the future (e.g., marketplaces, form factors, interfaces, etc.) and the new profit pools that could emerge as a result.

THE 2021 PAYMENTS CANADA SUMMIT

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[gailbevilacqua]

Thank you for the overview. Watching this 2 years after it was posted, renders a fair account of the timeline each transfer variety is taking to be absorbed by the general public and businesses. Timeline would seem somewhat dependent on whether we're forced or given options in the variety of value transfers. The younger set will usually choose the more innovative path and find it exciting while middle-age to senior populations will find the options intimidating and choose the more traditional methods. That's if we're given the option. I think eventually, we'll be forced. Global trade movements will regulate the degree of force in these matters I'm sure. Our country will have to oblige to trends set by the globe. Thinking of my 93 year old father who is still capable of and who enjoys handling his own asset flows, I'm hoping changes occur slowly or optionally (at first). Also, thank you for sending me to Google. New words...always good!