In this section, Krishna Potnis discusses the future of payment technology and envisions a world where all payment instruments collapse into a single seamless way of payment, such as using unique signatures instead of credit cards. He mentions that frictionless payments have already started to happen, citing examples like Jio allowing payments from cars based on location. While he doesn’t believe a return to the barter system is likely, he suggests that NFTs could potentially introduce new ways of bartering. He also acknowledges the growing impact of the metaverse on the payment industry, emphasizing that payments will be a crucial component of the metaverse experience.

In this section, the discussion revolves around the future of payment technology and its impact on the financial technology domain and payment systems. The speakers acknowledge that it will be interesting to see how the payment landscape evolves, considering the multipolar New World Order and the concept of frictionless transactions. However, they also acknowledge that a certain amount of friction is beneficial. They mention the revolution brought about by QR payments in India, which has allowed for financial inclusion and easy transactions even in small towns. The speakers highlight the speed at which technology changes and the challenges faced by developing countries in adopting new payment methods due to the ingrained nature of traditional credit and debit card systems. Overall, they recognize that technological advancements have propelled India to take a significant leap in payment technology.