The Gen Z Effect And The Mobile Payment Industry Shift [Forbes]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Forbes
In an era where expects nearly everything to be instant—from ride shares to refunds—it's no surprise they're demanding the same of their money. Whether it's a Venmo transfer between friends or a gig economy payout, the frictionless, fast, and flexible of younger consumers are setting the new standard. To understand how the payments industry is evolving to meet these demands, I sat down with Jeff Katz CEO of MassPay a company at the forefront of global payment facilitation. With 40 years in the payments industry, including as founder of Mercury Payments (now Worldpay), Katz offers a sweeping view of how we got here—and where we're headed. From Payroll to Payouts: A Shift in Consumer Mindset Driven By Gen Z Katz points to the Uberization of payments as the start of the real-time revolution. "Gig workers expect to be paid immediately or near-immediately," he said. Uber normalized the idea of a daily payout, and now everyone from dog walkers to freelance designers sees instant payme
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