What's Next? 5 Technology Trends That Will Shape Retail And Commercial Banking

The banking industry is changing. In the words of sci-fi author William Gibson, "the future is already here – it's just not evenly distributed." In China, a payments revolution is underway that constitutes a true "Great Leap Forward." While the U.S. is still mapping the path to real-time payments, and scrutinizing the disappointing penetration of mobile payments, China is well on the way to being a cardless, as well as a cashless, society. Nearly 50% of WeChat's billion users have now paid at a retail store using a QR code, while Alipay (with another 500 million users) is seeking to bypass the phone entirely with its "pay with a smile" facial recognition system.