Day 1 of Money 20/20 Europe 2024: main trends and highlights

The biggest and most exciting event of the payments industry, Money 20/20 Europe started today (June 4th) in Amsterdam – and, with it, our exclusive content coverage of the event.

Kicking off #Money2020Europe were sessions focused on the hottest topics of the industry, such as Artificial Intelligence, cross-border payments, consumer-first strategies, tokenization, and digital currencies.

Our team is in Amsterdam to share our expertise and absorb new insights about the trends, challenges, and future ways of the money industry – and to bring you all the most relevant findings and content from Money 20/20 to you here at #PagNews. So keep reading and check out the highlights of the event’s first day:

It's all about AI

As with pretty much every tech-focused event around the world right now, the hottest topic from Money 20/20's first day was Artificial Intelligence. Deepening the discussion, though, there's already a clear understanding that AI cannot be just a trendy buzzword for companies to try and leverage, but a strategically-applied technology that, when well used, can have business-changing results.

One key aspect in which financial companies see extraordinary value for AI is fraud prevention: as fraudsters evolve and catching them before the fact becomes more difficult, AI can help better understand the fraudsters' profile, behavior, and process. There's a downside to this, though — on one hand, AI is being successfully used to hinder fraudsters, but on the other, it's also being used by the fraudsters to improve their attempts. As usually happens with anti-fraud processes, it's essential to stay ahead of the other side and constantly evolve risk analysis in order to be able to avoid fraud without causing too much friction for valid customers.

Another great highlight for the usage of AI for financial companies — and beyond — is the creation of hyper-personalized processes and services, offering innovative and "tailor-made" experiences for the customers through new ways of interacting with a product. Considering the heavy regulatory requirements and internal processes financial companies deal with, AI can allow businesses to offer flexible UX without losing the strong level of control the sector demands.

AI will definitely make an appearance throughout the next two days of #Money2020Europe, so stay tuned for our next articles from Amsterdam for even more highlights related to tech's hottest keyword right now.

Cross-border payments in a borderless world

Year in, year out, cross-border payments remain a major topic — and a big challenge — for Money 20/20 attendees. After all, cross-border adds another layer of complexity to everything else related to money transactions, requiring also specific regulations, processes, and knowledge. That is one of the big things for PagSeguro at Money 20/20: to be able to share our expertise in Latin America and Latam's landscape and how local payment solutions can bridge the gap between what worldwide companies sell and how foreign customers can — and want to — pay.

More broadly speaking, cross-border payments end up being mentioned in several panels, even if they are not the focus. After all, they present a great opportunity for companies to take their businesses further and to tap into new audiences, elevating sales growth but also presenting great new challenges.

Relating to digital money, for example, cross-border transactions should stay focused, at least for now, in specific popular corridors instead of happening all around the world. This brings us to our next highlighted topic —

The future of digital money

CBDCs, stablecoins, bitcoin, blockchain... These words were all over Money 20/20, as digital money is definitely a key topic for the whole industry right now.

With CBDCs (Central Bank Digital Currencies) mostly being developed in emerging economies and in China — Brazil's own Drex, for example, should not take too long to be released —, there are still a lot of questions regarding how widespread these currencies can become.

One of the main worries is trust: digital currencies require a lot of data, data which the customers don’t necessarily want to share with the Central Bank — especially if they can't see outright value in it. So how can a balance be found? This is a major discussion happening at Money 20/20, with new insights certainly coming in the next few days as we dive deeper into this and other industry conversations.?

To understand more about the current and future trends of the payments industry, how to leverage them to succeed in Latin America, and more, stop by our booth #8B114, near The Connections Lounge, for a chat and a coffee with our expert team.

?? Schedule a meeting with our team at Money 20/20 Europe

See you in Amsterdam and here on #PagNews tomorrow, for the highlights from Day 2 of Money 20/20!