Drivers of Change in Payments: Setting the Payments Modernization Agenda for Banks and Other Acquirers

Changing client demand and industry trends are driving the change agenda of payment providers.  

May 26, 2022 –The global payments space has morphed into a complex nonlinear space, incorporating players and capabilities that enable merchants to securely accept any payment type, transacted through any channel, and delivered through various intermediaries to deliver superior customer experiences. Merchants and their payment providers must deliver all of that—domestically and cross-border, online and offline. Many retail payment services are becoming commodities, with price as the main distinguishing factor.

This report, sponsored by BPC Banking Technologies, highlights major trends in the global payments industry. The report provides payment providers with a forward-looking view on the evolution of payments and the drivers for investment in payments modernization. Aite-Novarica Group used existing research and expertise, analysis of data from its data sets, and reliable public sources. Aite-Novarica Group also leveraged the results of a recent study on payment acceptance with 10 executives from leading acquiring banks and payment companies.

This 40-page Impact Report contains 13 figures and four tables. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.

This report mentions American Express, Apple, BBVA, Big Commerce, Buy It Mobility Networks, Coca Cola, Discover, Facebook, FIS, Google, Interac, Ixopay, JCB, Klarna, Mastercard, Microsoft, Modo Payments, Payoneer, PayPal, Rapyd, RuPay, Shopify, Sotheby’s, Spreedly, Square, Starbucks, Tesla, Tink, Toast, Venmo, Visa, and Zelle.

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