Mobilising Ecosystems: "How Big Brands Are Driving Payments Innovation"

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Hosted on the Innovation Stage at Pay360 by Fintech Fringe, this fireside chat explored how big brands - retailers, telecoms, and mobile operators, are reshaping the payments landscape.

No longer the domain of just banks or networks, payment innovation is increasingly customer-led, driven by behaviour, preference, and ecosystem dynamics.

  • Moderated by Lana Hoffmann, Founding Partner at epta-x

  • The session featured Stuart Neal, CEO of Boku, a global leader in local payment methods.

The Power Shift in Payments

Stuart Neal opened with a strong statement:

“People don’t choose how to behave because they’re told to by a payments company, or even by their bank.”

Stuart went on to highlight how, across global markets, consumer choice is now the dominant force driving payment innovation.

Boku connects to over 7 billion individual payment accounts, many in markets where 'mega apps' dominate everyday life:

“Consumers don’t want to dig out a plastic card, they want to pay within the ecosystem they already live in. That’s why local payment methods are exploding in popularity.”

From Card Infrastructure to Local Innovation

Stuart drew a sharp contrast between legacy card infrastructure and the rise of local payment methods:

“By 2028, 60% of global e-commerce will happen on local payment methods, not Visa or Mastercard”

Stuart credited this shift to the leapfrogging of 50-year-old card rails in favour of mobile-native experiences like UPI (India), Pix (Brazil), and PayPay (Japan):

“People don’t wake up wondering how they’ll pay,” he added. “They want their transaction to just work -fast, simple, and safe.”

Why Trust Is Shifting

Asked whether local methods can match card schemes for trust and consumer protection, Stuart was candid:

“The card schemes are very strong—especially in consumer protection and interoperability.”

Stuart argued the trust dynamic is evolving:

“You trust your bank with your wages. You don’t give your salary to Visa. And increasingly, you trust your phone -Apple or Google, for authentication.”

Local Wins—Global Brands Take Note

Stuart shared Boku’s success in Japan, where direct carrier billing (DCB) and digital wallets are now mainstream, even though cards are widely available:

“In Japan, consumers get a $1,000 credit line tied to their mobile operator and use it for app stores, subscriptions, and streaming”

Stuart explained:

“67 million people use PayPal. It’s not about access, it’s about preference.”


Collaboration, Not Competition

While disruption is necessary, Stuart advocated for cooperation across players:

“If you’re tackling fraud or cross-border payments, we need to co-invest and partner,”

Stuart also welcomed collaboration with traditional networks:

“There’s latent infrastructure we could use and vice versa.”

A Final Word to Founders

Stuart’s advice to new fintechs was clear:

“Solve real problems. Focus on what Mrs. Miggins on the street needs, not what excites a room of payments people.”

He encouraged ambition:

“Be bold. Challenge the defaults. And maybe, just maybe, make payments disappear.”

Practical Takeaways

  • Consumers, not companies, are driving payment innovation through behaviour and ecosystem loyalty.

  • Local payment methods are scaling fast, expected to handle 60% of global e-comm by 2028.

  • Trust is shifting: banks and mobile platforms now hold more influence than card networks in some markets.

  • True collaboration across tech, fintech, and legacy players, will unlock innovation at scale.

  • To build real impact, start with the user. Invisible, seamless payments are the future.