Trends | Predictions for 2021 in the world of payments and rewards

Chris Ford, Senior Director at Blackhawk Network, looks back on the predictions he made for 2020, and casts new thoughts on what 2021 will bring.

“In December 2019, I wrote a blog outlining my 2020 predictions for how upcoming trends within the industry and the wider world would impact our approach at Blackhawk Network. Little did I know at the time quite how far these six focus points would develop, and the cause from which they’d exponentially grow!

How people pay changed, possibly for ever

Overnight, digital payment became the preferred method of exchanging funds. Cash practically went out the window, with many retail outlets requesting customers to use card wherever possible.
We’ve seen marked innovation around the actual payment vehicles that were already in existence. Supported by payment regulation changes such as an increase in the amount you can spend on a contactless payment, coupled with the open banking phenomenon; wallets, apps and the resurgence of QR codes are just a few examples.