[payabl. Group CEO: "Crypto payments are a trend, but instant payments may be the future"]
At iFX EXPO International 2024, payabl. Group CEO Ugnė Buračienė emphasized that the challenges of the payments industry lie in digitalization and rapid transformation, while pointing to opportunities presented by emerging markets and payments trends. Integrating regulation, security and providing safe and secure payment options are key challenges at the moment, she said.
Buračienė joined payabl. in 2020 and was later promoted to Group CEO, responsible for the UK, Germany, Netherlands and Cyprus markets. She has extensive experience in the payments industry, having held senior positions at Unlimit and other payments companies. She emphasized that payment companies need to ensure the collaboration of infrastructure and ecosystem, and the solutions provided to businesses and consumers should be complete and not challenging.
Founded in 2011, payabl., which offers solutions for acquiring, alternative payment methods, payment accounts and prepaid cards, has not yet ventured into crypto payments. Buračienė believes that although crypto payments are on the rise, their widespread adoption is still a long way off, currently accounting for less than 5% of regular checkout pages. With the emergence of MiCA and other regulatory structures, the security of crypto payments in Europe will improve, but full adoption will still take time.
She pointed out that instant payments are the next trend and will bring the greatest benefits to consumers and businesses, but there are still many challenges. Buračienė believes that payment models need to go through a maturity stage, such as payment cards that have been fully accepted and adopted by the market. She believes that by solving the challenges of instant payments, this trend will quickly grow and become mainstream.
