Confidia AG sold in 2019 to a group led by Mr Cameron McKean whose previous global experience in payment solution company HowToPay has proven to be an energetic and dynamic player in tis expanding market.
Asia Pacific operations are well established and inroads into the European marketplace are well on track, Mr McKean also advises the new USA entity is now operational, despite the economic turndown 2020 looks to be a bumper year for this.
As an already regulated company setup in 1971 Confidia AG is moving from a pure financial service focus to also include payment services as a Payment Service Provider (PSP)
“We need to embrace the needs and wants of both merchant on consumer alike and provide easy secure safe systems that are centric to the marketplace where we operate” said Mr McKean
“With an ageing population in the USA a lot of seniors are hesitant to embrace new streamlined payment methods, they are unfamiliar with how these ‘new fangled’ systems work and have a skepticism, a check book for these folks is easy to balance and is familiar, they can keep tabs on spending and bills in a format which is both easy to understand and comfortable for them to use, alongside established practices” Mr McKean also announced the launch of a digital wallet app
Mr McKean referenced a JP Morgan survey and found that only 16% of US consumers had completed a payment with a digital wallet transaction. The research company Forrester reports that by 2021, mobile payments will triple in the USA, reaching up to $282 billion in annual sales, HowToPay under the direction of parent company Confidia AG sees this trend and is at the forefront with this as an offering putting its clients ahead of the game.
Mobile payments such as the one HowToPay now provides also gives increased security for merchants and consumers alike.
Many devices have their own level of security further enhancing this product making it appealing to the global marketplace.
More importantly, digital wallet users do not expose their cards to scammers, which can steal credit card information. This sort of information is stored in their phones instead
“Confidia AG/HowToPay recognizes that in today’s world we must cater to everyone, their needs and wants have to be catered for to remain relevant”