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Beyond the Transaction: Every Transaction Has a Story

5 Payment Trends to Know about Millennials in 2015

As a millennial taking on post grad life, I see opportunities to explore, connect and create in this New Year. The evolution of technology is transforming our everyday experiences to both simplify and complicate our 2015 in the best way possible.

Millennials of course are the perfect advocate for new payment technologies, after all we embody the digital transformation that has taken the world by storm. Dazed and confused by the tech savvy millennial? Let’s take a closer look.

We cook our own meals and pay our own bills

Entering the New Year, I’m finally getting the hang of this post grad world where I pay my own bills and cook my own meals. Okay, so I still don’t cook my own meals but that’s what New Year’s resolutions are for, right? Nevertheless, I do pay my own bills and I have technology and online banking to thank for making this a seamless and secure experience. –If only my landlord would get with the times. I’m not too fond of my monthly commutes to the post office.

mobile banking

We think wearables are one to watch

In this New Year, the trend of seeing payments as an experience that goes beyond a simple transaction will take new heights. Expect to see the technology introduced in 2014 to gain widespread acceptance in 2015 and expect to see ideas become realities. I mean, who ever thought we’d be able to pay for morning coffee with a watch? I must confess, I haven’t put the watch payment system to the test yet but that’s not to say it’s not on my 2015 to-do list. Wearables are IN and millennials are the first in line to join in on the craze. We now have options when it comes to how we pay and I have a feeling this is just the beginning.

Apple Pay in use

We expect a SECURE future

It may not look like it on a Saturday night, but us millennials are responsible young adults who recognize the importance of a secure future. Easy doesn’t cut it for us. We love shortcuts but not shortcomings and that’s why Apple Pay will become a new friend of ours in 2015; paying with your fingerprint is an added layer of security that brings us the peace of mind we need to adopt it. But Apple Pay isn’t the only payments technology leveraging Touch ID. With Square Cash, users will be able to authenticate money transfers with their fingerprint.

We want to alert the fashion police every time we see one of those bulky physical wallets

Not only do I live a cashless life in NYC but at this point a physical wallet would be over-accessorizing. My phone is in my hand at all times, so for me and every other multitasking millennial that I know, the mobile wallet makes sense. We’re forward thinkers and movers with digital mindsets, which is why emerging payment technology caters to our fast-paced way of life.

square cashYES, we are ALWAYS plugged in and on the go


As a millennial, always plugged in and on the go, I find quick, easy and secure to be a must. In 2014, I tested out Apple Pay and P2P mobile payment apps like Square Cash and Venmo. I found the payment technologies to be extremely convenient and secure. So far, I have used Apple Pay in NYC cabs, Walgreens, Fairway and the movie theatre. Apple Pay has even been integrated into Uber’s in-app payment system which always comes in handy when I’m in a rush and it’s impossible to hail a cab. My friends and I use P2P mobile payment apps to pay each other back on a regular basis. As I reflect on years past, I find it silly to think we used to wait until we had the exact dollar amount in cash before paying each other back.

At this point, I’m running out of excuses to ever pay with cash. With heightened acceptance in 2015, emerging payment technology will begin to integrate into everyday life. I look forward to seeing more and more financial services, merchants and banks supporting tech savvy ways to pay in the New Year. Who knows, by 2016 I could be paying for morning coffee with my heart instead of my watch. The possibilities are endless. Millennials are ready, are you?