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For years, payment service providers (PSPs) have been defined by the methods they enable. First came cards. Then digital wallets like PayPal and Apple Pay. Later, buy-now-pay-later options like Klarna joined the mix. Each wave gave consumers more flexibility and gave platforms new ways to attract and retain merchants.
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This year’s Money20/20 marked a clear inflection point. Fintech, traditional finance, and blockchain are no longer running on parallel tracks, they’re converging into a shared foundation for modern financial infrastructure.
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The payments industry has always rewarded speed. The fastest adopters of new technology set the standards everyone else follows. Yet for all the innovation happening, the process of adding a new payment rail can still feel like a step back in time.
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