The race will start in Toronto and end in Las Vegas, where Money 20/20 will be held this year. Six influencers from the payments and fintech world will have to travel the distance and pay for accommodation and all expenses using only one payment method assigned to them. The available payment methods include: mobile wallet, Bitcoin, JCB Card, gold, contactless, chip and pin, coins and swipe and sign.
The racers will take part in a discussion panel on October 25th at Money20/20, where attendees will have the opportunity to find out about their experiences and interview them individually.
The race starts in Toronto on October 18th, with the racers required to arrive in Las Vegas in time for the opening of Money20/20 USA on October 22nd. Beyond the challenge of only being able to pay for their travels with a single payment method, each racer must also stop along the route to complete a series of daily challenges set by company sponsors and race event organizers.
Race organiser Ali Paterson, Executive Editor of Fintech Finance, believes that a second race in different countries will test the efficiency of cross-border and global payments.
Tracey Davies, President, US Market, Money20/20, is looking forward to finding out which payment method wins the race. “With the ecosystem constantly re-inventing itself, the Payment’s Race is a fun way to put to the test the efficiency of today’s main payment methods. It’s a great way to bring fresh and real-time insight to Money20/20, ready for the industry’s smartest and most inventive people to discuss as they come together to create the future of money.”
The ‘Payments Race’ can be followed on the event’s social media and YouTube channels.
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