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Payments, global trade head for digital ‘tipping point’ as coronavirus pandemic forces shift in business environment

Digitisation in payments and global trade has reached a “tipping point” as a result of the challenges created by the coronavirus pandemic, creating a new level of comfort and trust in digitally driven transactions, according to a panel of fintech experts.

Global trade has entered a new era where the digital economy is going to be the centre of the world’s economic structure, according to Jack Zhang, chief executive and co-founder of Tencent Holdings-backed payments operator Airwallex.

Airwallex saw usage by its customers jump by 53 per cent in the second quarter from the first, with some of its e-commerce customers experiencing 200 per cent growth in the April-May time frame, Zhang said. Seventy-five per cent of its customers who responded to a recent survey plan to continue to use the digital channel post-pandemic, he said.

“The speed of e-commerce is being accelerated – probably what happened in a

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Yahoo Finance’s Annual All Markets Summit Goes Completely Digital (Exclusive)

Yahoo Finance is making its annual All Markets Summit online-only amid the ongoing coronavirus pandemic, TheWrap can exclusively reveal.

The 2020 “All Markets Summit: Road to Recovery” will air at 5 p.m. ET Monday, October 26, entirely via livestream on Yahoo Finance, just as Warren Buffett’s Berkshire Hathaway shareholders meeting did in May.

On Tuesday, July 21, at 5 p.m. ET, the outlet will host a virtual one-hour special, “All Markets Summit Extra: Road to Recovery,” as a lead-up to the event. The special will discuss the re-opening of businesses, economic recovery and outlook, diversity and inclusion and generational opportunities in business.

Also Read: Yahoo Finance Delivers Most-Watched Berkshire Hathaway Shareholders Meeting Ever

Participants in the special include Anthony Scaramucci, founder SkyBridge Capital and former White House communications director; Arnold Donald, CEO of Carnival; Byron Alle, founder & CEO of Allen Media; Brian Chesky, CEO of AirBnB; Julie Sweet, CEO

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