Envisioning the Future of Payments with Visa
Visa LATAM’s innovation department faced the challenge of keeping up with rapid technological developments in the financial sector while maintaining a competitive edge. Seeking inspiration for the development of new products and services, Visa contacted us to map out emerging technologies and uncover market opportunities that could drive their future strategy.
Our research provided a comprehensive overview of the payment technology landscape, identifying key technologies across the entire value chain. This research became instrumental in Visa’s workshops and innovation sprints, serving as the foundation for new product creation. By combining detailed insights with hands-on sessions, we enabled Visa to co-create and ideate with leadership teams, fostering innovation and driving strategic thinking around the future of payments.
Our involvement helped Visa identify emerging technologies, including those related to fintech, automated shopping, AI security, bio-payments, and wallet redesign. Executives participated in scoring sessions, assessing the impact of each technology on the payment industry, ultimately guiding Visa’s strategic roadmap.
Our Work:
- Mapped new technologies to explore market opportunities within the payments sector.
- Identified emerging technologies throughout the value chain.
- Supported workshops and innovation sprints with strategic insights.
Impact:
- Provided a base for new products and services in payment technology.
- Fostered innovation and strategic thinking within Visa's innovation team.
- Helped Visa executives evaluate the impact of emerging technologies to guide decision-making.
We conducted in-depth research focused on the future of payment methods, exploring key areas of fintech and identifying emerging trends. Our research combined insights from our proprietary technology database with Visa’s internal expertise. The research highlighted emerging technologies such as automated shopping, universal exchange systems, behavioral money, wallet redesign, and bio-payments, all of which represent potential breakthroughs in the payments space. This holistic approach ensured Visa LATAM had a clear understanding of the technologies poised to impact their industry.
To help Visa executives make informed strategic decisions, we developed custom metrics for assessing the viability and impact of each emerging technology. During workshops, Visa’s leadership teams scored these technologies based on their likely effect on the payment industry, as well as their feasibility for implementation. This scoring system provided Visa with a heatmap of priorities, helping to focus efforts on the most promising innovations for the future of payments.
We co-facilitated a series of workshops with Visa LATAM’s leadership team, where participants were guided through hands-on ideation and co-creation sessions. These workshops encouraged creative and speculative thinking around new payment technologies and explored how Visa could incorporate these innovations into their services. The outcome of these workshops provided Visa with a roadmap for strategic innovation, ensuring that their next steps aligned with the latest technological trends and market demands!
