The COVID-19 crisis has become an unimaginably heavy burden on the international population. The largest price paid in the pandemic, of course, is the loss of life in practically every country in the world. Global markets, supply chains, and the economy have suffered a blow that has been compared to the 2008 financial crisis. At both a personal and economic level, it is unlikely that we will emerge from this event unchanged.
Narrowing focus onto the payments industry, changes as a result of COVID-19, however, appear in a more positive light. Such unstable times are sure to make history, but the flexible and fast-moving nature of payment could allow us to adapt quickly to changing demands and even help reintroduce stability as soon as possible. Innovation in payment tech may offer a glimmer of optimism in an otherwise gloomy outlook for the global economy.