The good news is that digital payment sector is rapidly evolving and PayCargo is leading the way.
     Business to consumer (B2C) payment technology trends are being driven by millennials and Generation Z, with changing consumer habits transforming industries across the world.
     This is a great opportunity, but how can we effectively harness the benefits for the air cargo industry?

Which Makes Sense?

     This is a question that many companies are asking themselves, but with so many different payment options trending, it can be an overwhelming landscape to navigate.
     Here are just some of the payment technology trends on the market right now:
     •  Digital Wallets
     •  Virtual Cards
     •  Wearable Payment Devices
     •  Connected Car Payments
     •  Realtime Data Transparency
     •  Unattended Payment Terminals
     •  Scan and Go Apps
     •  Cardless ATMs
     •  Motion Code Debit Cards

Surfin’ Safari

     As many of our readers will point out, these are mostly B2C trends, however, we need to think carefully about how they might impact our industry on a B2B level, either directly or indirectly.
     There is a wave coming, and, like a seasoned surfer, we need to be ready to harness that energy to our advantage.
     Consumers are driving exponential technological change and, as businesses, we must adapt or die.
     We could argue that this has always been the case, however, the key difference we have today is the unrelenting pace of innovation, change, and information availability.

International jetsetter and man-about-town, newly-named PayCargo CEO “Fast” Lionel van der Walt took time out from a recent whirlwind New York business trip to stop by at JFK TWA Hotel adjacent the Saarinen designed-1962 TWA Flight Center.       Parked outside is the coolest cocktail lounge yet, a restored and repurposed Lockheed Constellation. Appointed with deep red carpet and comfortable seating, the “Connie” features mural-sized artistic renderings of 1950s movies star travelers, including Deborah Kerr and Audrey Hepburn.       Lionel, here to get the word out after joining PayCargo as top executive in early July said:       “The PayCargo payment platform for air cargo is the industry's most secure and efficient payment solution allowing our customers to move funds and payment information to their freight vendor for rapid release of shipments.       “In many cases, cargo is released within one hour of payment,” ‘Fast' Lionel noted.       About the Connie, Lionel smiled, “What a way to fly!” https://www.paycargo.com

The Air Cargo Money Man

     Lionel van der Walt has had an interesting career.
     First, he was an IATA guy almost forever. Then he popped up as President and major reformer of Cargo Network Services (CNS) and shortly after that went into the roofing business as an organizer of that group of professionals.
     Most recently based on his brilliance Lionel was pulled back to air cargo as President of fast rising PayCargo.
     So naturally FlyingTypers asked Lionel van der Walt to comment on all of this.
     “In air cargo today we have what I would consider one of the biggest challenges of our time, and I mean this in a positive sense; Generations X and Z.
     “The younger generation, particularly Generation Z, expect a world where all transactions can be completed on mobile platforms and where instant gratification is the norm.
     “And they are not afraid to demand it. “Growing up as consumers, their needs are being met to a large extent, but they keep pushing for more,”Lionel declared.

Planning Ahead

     So we wonder how do we, as an industry, plan for and develop systems and businesses that not only cater for their needs as future business owners and leaders, but also meet their expectations as a workforce?
     “The irony,” Lionel smiles, “is that industry change that is required is being led by individuals, and I include myself here, that are just “slightly” older than Generation X and Z, “slightly” out of tune, and sometimes resistant or slow to acknowledge that their perspective is not only ok, but for good or bad, it is the future.

Communication Is King

     “The point I am making,” Lionel declares, “is that we need to ensure we understand and include the customer perspective when thinking about the future.
     “As with payment technology solutions, the expectations of the new generation are mostly related to B2C trends, but I do believe they are applicable to, and will impact on our industry in some way or form.

What’s Next?

     “My objective is to get air cargo thinking about how and where we could potentially benefit from the natural trends and progression of the audience.
     “Most of us already take much of this disruptive technology for granted in our daily lives, from ordering our shopping online, to using our smartphones and or Apple Watches to pay for a round of golf or drinks.
     “It is estimated that there will be over 500 million mobile contactless users by the end of 2019.
     “And if you think that is impressive, the next wave of technology is already here; Visa and Curve rings, Phone to Phone payments, where your smartphone is used as a Near Field Communications (NFC) device terminal, and Connected Cars that incorporate payment technologies,” Lionel said.

Maybe We’re Amazed!

     So while we are busy looking all of this up on Google and YouTube we come to this realization;
     This guy knows what he is talking about! Tomorrow is Today!
     We are amazed!
     “Tangible systems like ATM cards,” Lionel insures are going to become obsolete.
     “Not only that, the traditional banking system as we know it is fast becoming outdated.
     “Air Cargo needs to be thinking today about how we can use these current and future trends within our industry, not only to gain a competitive advantage, but, more importantly, to secure a sustainable future for our industry.
     “The key challenge facing these technologies is identification theft, but this is being addressed.
     “The tech has moved on from fingerprinting and facial recognition to the more complex iris recognition, vein mapping, and heartbeat analysis.
     “All these technologies will present a possibility for secure biometric payment systems in the future.
     “As compared to the traditional payment methods, biometric authentication is projected to significantly boost efficiency, security, and accuracy.

Eye Of The Holder

     “What’s interesting is that in a recent Visa study, 88 percent of consumers said they would be interested in using biometrics to verify identity or make payments, 70 percent thought biometrics were easier to use than pins or passwords, and 46 percent thought it was more secure.

Lost Yesterday's Mobile Tomorrow’s

     “Generation Z has no recollection of a world without internet and mobile applications, or where people use cash to pay.
     “Millennials accept nothing less than digital technology and mobile phones.
     “Studies also show that 80 percent of our teens and young adults – aged between 18 and 21 years – are giving up TV for their mobile phones.
     “This is a generation that is restless, and unapologetically demands immediacy and efficiency in the services they are provided with.”

No Going Back To The Used To Be

     It is reported that about 70 percent of Generation Z has dumped orthodox banking methods for the more efficient and fast mobile banking
     “They don’t bank the way we used to, they don’t shop the way we used to, and they don’t work the way we used to.
     “How do you think they will rate our industry?”
     Do you think they will be comfortable working in it, Lionel asks?
     “This is the workforce of the future, and whether we like it or not, they will demand more from us.
     “So let’s make sure we are including their perspective in our decision making as we continue the good fight to modernize the air cargo industry,” Lionel concluded.
Geoffrey