Can Blockchain Deliver Speed, Security and Inclusion to Global Payments?

Innovative technology is on the cusp of transforming existing global payments infrastructure.

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    But unlocking the full potential and capturing the true impact of next-generation value transfer solutions like blockchain-based payment technology will require a winning convergence of behavioral trends, regulatory evolutions and technical transformations.

    Pat Thelen, vice president of global account management at Ripple, and Lina Szaks, senior vice president of global operations at employment platform Multiplier, shared with PYMNTS their thoughts on the innovations that promise to revolutionize both money movement and payments infrastructure around the world.

    “The future is now,” Thelen explained. “Instant and real-time payments are getting faster around the world. Open banking, embedded payments and solutions like buy now, pay later (BNPL) are all things [across the payments landscape] that we are excited about.”

    In a digital-native world, payments infrastructure needs to evolve to cater to the needs of consumers and businesses, and Szaks added that she is tracking the rise of digital wallets and mobile payments.

    “We’re also looking at the expansion of contactless and biometric payments, and growth of peer-to-peer instant payments,” she said. “The world is going instant everything, and payments are naturally following suit.”

    As the payments ecosystem continues to evolve, the future holds the promise of artificial intelligence (AI)-driven solutions, enhanced cybersecurity and faster cross-border transactions.

    The Emerging Trends Revolutionizing Today’s Payments Landscape

    Blockchain-led innovations around programmability, immutability and global transaction delivery are increasingly pushing the capabilities of the payments industry forward.

    “We see the tokenization of real-world assets as about as exciting as anything out there,” Thelen said. “If you apply the technology to industries that have been around forever and are fraught with manual processes and illiquidity and latency, there are some real opportunities where so much cost can be taken out of the equation. You can get pretty clever as these use cases unfold.”

    He added that he sees central bank digital currencies (CBDCs) advancing in parallel, noting that over 90% of central banks around the world are looking at what opportunities leveraging the technology could bring them.

    “What will be interesting is that it will take the commercial banks beneath those central banks to actually make it work, and it will be fun to see those opportunities unfold,” Thelen said.

    “There is a lot to be done around contactless and biometric payments that can ensure they are done accurately, compliantly and in a more instant manner,” Szaks added. “People already use Face ID for their phones, and we should go more and more down that path.”

    However, this potential is still untapped, and the opportunities are still largely uncaptured. But, in the background, the technology to support them is becoming increasingly realized and feasible.

    “What’s nice about building a brand-new payment network, like RippleNet, is that you can actually have those standards like ISO 20022 inherent in the technology, which enables you to do some really smart things around risk and compliance, and it opens up the aperture for banks, FinTechs and other providers to do really clever things with the end user in mind,” Thelen explained.

    That is why it is critical for governments, as well as private and commercial institutions, to ensure that their payments infrastructure is fit for purpose going into the next century.

    Building for the Next Generation of Payments Starts Now

    “Innovation is relentless,” Thelen said. “And innovation and competition will find a way to apply the technology that is already here. The technology is ready now. You have commercial banks, central banks and institutional players leaning in. Apple, Google, Amazon are certainly leaning in. Look at what is occurring [around blockchain and digital asset solutions] with Visa, Mastercard and PayPal.”

    This innovation in the industry, coupled with the maturation of blockchain technology, is paving the way for a more efficient, inclusive and secure global payments infrastructure.

    “These players understand that if they are going to build for the next generation — which you don’t have the opportunity to do very often — that they can not only eliminate the manual, illiquid nature and slow settlement that occurs [across many transactions], but they can also build it in a way that has the end user in mind,” Thelen said.

    As for what he is looking forward to most as progress in payments continues its forward march?

    “The competing demands of innovation in payments have historically centered around trade-offs between things like user privacy and controlling for illicit activity, or speed versus fraud, and when those things have come up against each other, we’ve been forced to choose one,” Thelen said. “With today’s technology and innovations, those demands are no longer mutually exclusive. They can coexist … and hopefully there’s an interoperable world where technology is leveraged to take away a lot of the friction that exists today.”


    Kelly Cook on David’s Bridal’s Aisle to Algorithm to Amazon Strategy

    Highlights

    David’s Bridal CEO Kelly Cook gives Karen Webster the scoop on the brand’s new Amazon partnership, launching The Edit by DB Studio to offer affordable, high-quality dresses for weddings and beyond — directly on the world’s largest retail platform.

    The move signals a bold shift from traditional bridal retail to a digital-first, multi-occasion fashion and media company, with AI and data driving future growth.

    Cook emphasizes trust, speed and convenience as David’s leverages Amazon’s logistics and reach to serve shoppers who demand both style and seamless online experiences.

    Watch more: David’s Bridal Bets on Amazon Partnership to Deliver Speed, Data and Style

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      Turns out Kelly Cook wasn’t kidding around. When David’s (formerly David’s Bridal) CEO last spoke to Karen Webster in mid-June she promised a big upcoming announcement that would support her vision of rebranding the dominant bridal retailer as a special occasion apparel and media company. But in order to take that next step she needed a big win. A big retail partner to amplify her “aisle to algorithm” vision.

      How’s Amazon for a big win? On July 9, David’s opened a new Amazon storefront featuring a new brand that offers gowns and dresses for both special and everyday occasions. By opening The Edit by DB Studio, Cook aims to continue expanding its offerings and ways to shop, positioning it to compete outside of bridal fashion and introduce its fashion to new shoppers through the biggest retailer on the planet. And in fitting with Cook’s expansive vision, The Edit by DB Studio offers styles that span bridal, bridesmaid, wedding guest, junior and occasion wear.

      Cook understands that as far as her ambitions for David’s go, it still begins and ends with the bride.

      “We needed to serve the brides that wanted a dress that was under $500, but she did not want to sacrifice the quality of a $5,000 dress,” Cook told Webster. “That is the key. She did not want a cheap dress. That is not what she wanted. She wanted a highly constructed, beautiful branded gown of high quality that was under $500. So that’s when we launched, discovered and defined the Edit by DB Studio brand. And we wanted to serve it to as many customers as possible, which is why we partnered with Amazon.”

      Aisle to Algorithm

      The partnership creates huge opportunities for David’s revenue and Cook’s vision of a special occasion apparel and media company. Nothing says “aisle to algorithm” like buying formal occasion attire on Amazon. But the partnership raises new issues for David’s, which Webster pressed Cook on during their conversation. How could a bride and her guests say yes to the dress without trying it on? How would the mass market Amazon experience play in the specialized, upscale world of David’s? And how would formal apparel play on Amazon?

      All those questions define Cook’s next challenge, which is convincing brides that a dress ordered with one click can still make them feel flawless on the big day. “Most women, most brides want to come in for an appointment. They want to fit the dress because fit is everything,” Cook acknowledged. Yet pandemic‑era virtual consultations proved the fitting room can be digitized. “Our virtual stylists are incredible. I mean, they sell millions and millions and millions of dollarsof gowns online without ever seeing a bride in person.”

      For Amazon shoppers, the safety net is logistics, not tailoring. “Amazon has such an incredible model, meaning you can buy multiples and return. That process is extremely convenient for brides,” she said, noting Happy Returns counters at Kohl’s and UPS that remove friction from the try‑buy‑return loop. And David’s is hardly ceding speed to its new partner. The chain already has an inventory of about 400,000 dresses locally across the country, with each of its retail locations serving as a distribution center. The difference, she said, is that Prime now meets a cohort of “last‑minute brides” who shop “a month away”— or even a weekend before — without compromising fit or style.

      Cook insists the partnership will enhance rather than dilute the 75‑year‑old brand. “We think we’re fulfilling a need on Amazon to offer trustworthy, high-quality, really sophisticated craftsmanship gowns,” she said, recalling that reporters at New York Bridal Fashion Week could not single out the Amazon‑bound styles from the couture rack.

      Asked whether the anything‑goes Amazon cart — where a $199 wedding dress might sit alongside paper towels — could cheapen the experience, Cook was blunt: “If our bride chooses a David’s dress but she wants to buy it on Amazon, we’re serving her … we’re just so privileged to serve her.” The storefront, she noted, flows directly from management’s first pillar under its “Aisle to Algorithm” roadmap: “to own all bridal across all price points and channels.”

      Data to Aisle to Algorithm

      What David’s hopes to gain from the experiment is data and speed. “We want to know what sells the quickest … Amazon could just get us data faster,” Cook said. Occasion‑wear prices on the marketplace have already climbed from $49 four years ago to $199 today, and David’s “is forecasting that the Amazon price point will continue to grow as they lean more heavily into fashion. She also wants a close look at Prime‑style fulfillment: “They are the best at distribution … is there something we can learn from them there as partners?”

      Traditional seasonality is shifting, too. “About three years ago, we were seeing this massive spike come up in May, Cook said, eventually realizing, “guess what else requires a white dress? Graduation. Meanwhile, many ceremonies now require wardrobes, not just one gown. “Some of our data say their second dresses, some of our data say their third dresses … we even have brides buy an exit dress, she said, adding that Amazon’s two‑day promise “allows them to sort of level up those second and third and tertiary dresses without sacrificing look or fashion.”

      Wholesale rollout is next. The vertically integrated chain “is going to be partnering with boutiques to supply gowns at a fraction of current wholesale prices. And Cook double-clicked on her last interview with Webster, which dealt mostly with the role AI will play in the aisle-to-algorithm journey. “Our vision is to be the largest AI retail and media marketplace for all special occasions.”

      Cook closed with the metric she guards most closely. “The number one word customers use when they describe us is trust, and we will never do anything to break that trust, she said.