In the end of June in Lvov, Ukraine, the payment system Mastercard®, the long-standing partner of Norvik Banka, has conducted an annual conference with a motto “Empowering you in the Digital Economy”. Along with the financial sector representatives from over 24 countries, attendee from our bank participated the event.

As it follows from the motto, in the rapidly changing world it is extremely important to stay on the wavelength – and this is where Mastercard can assist – both independently and together with various Fintech companies, by offering a diverse number of opportunities to dynamically develop products and services and provide customers the most innovative and mainstream solutions. It is remarkable, that the opportunities are not limited by the clients of one company only, as, for instance, cities are creating ecosystems which include servicing transport, hospitals, schools, libraries to make support fast and accessible and allows analyzing the infrastructure needs to provide more efficient development and investment. In order to get an access to infrastructure, one may need a contactless payment card, mobile application, NFC wallet – opportunities are truly limitless!

It is expected, that over the landscape of five years, the payment industry will undergo the major changes, including the increased share of e-commerce in business, creation of large-scale commercial platforms, use of digital personal assistants and automated chatbots, remote customer identification, confirmation of payments using biometric technologies, automated e-commerce and many more to come. In the digital economy the personalization of services for each specific customer becomes especially important as understanding the needs throughout the whole lifecycle, create positive cooperation story, anticipate the customer’s desires – this is what will be expected from us!

As Norvik Banka is actively monitoring all innovations and trends, this Mastercard conference is just another chance to get acquainted with new developments, perspective innovations and projects of the future in the field of payments. All that will be of assistance to make cashless and digital services for customers faster, more convenient and, most importantly, safer and more secure.