Companies at the three-day event largely focused on the importance of reaching millennials, who are digital-savvy, mobile-focused, and now the largest working generation. Importantly, millennials — those aged 18-34 — are becoming essential clients for payments businesses. Mobile is the fundamental channel for younger consumers to make purchases, process payments, and interact with banks, and companies have realized that if they don't adapt, they'll likely be left behind.

Mobile is increasingly becoming the device on which users make payments, both online and in-store.

Mobile wallets: JPMorgan Chase announced Chase Pay, the company's first attempt at a native mobile wallet. Chase Pay, which will operate in partnership with merchant consortium MCX, will allow Chase's 94 million customers to make QR code-based purchases using their Chase-issued cards. The service intends to capitalize on loyalty and rewards programs in order to become a legitimate competitor to wallets like Android Pay, Apple Pay, and Samsung Pay.