The Path to Universal Payment Acceptance

Universal payment acceptance could arrive sooner than expected.

Boston, February 10, 2021 –A massive coalescence is happening in payments, driven by the globalization of e-commerce. Traditional payment alternatives are being challenged by alternative payment schemes, such as Alibaba, Amazon, Etsy, and Rakuten, and merchants are increasingly demanding that they be able to accept any payment type from any consumer in any market. Processors need to take a different look at what they’re offering and how they connect with their merchant customers. Universal payment acceptance is going to be table stakes within the next five years.

This report identifies the sources of disruption in the payments ecosystem, maps the potential evolution of the space, and describes the functions and capabilities needed for the delivery of universal payment acceptance. This report is based on market intelligence and insights developed by Aite Group from previous research, interviews with global industry experts, and available public sources.

This 30-page Impact Report contains 13 figures and three tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Allibaba, Amazon, America Online, American Express, Apple, Aspiration, BankMobile, BlueSnap, Cisco, Compuserve, Discover, Econet, Etsy, Facebook, FIS, Fiserv, Global Payments, Goldman Sachs, Google, Instagram, Mastercard, Microsoft, ModoPayments, Otto, PayPal, PayTM, Rakuten, SoFi, Spreedly, Square, Stripe, Venmo, Visa, and Zelle.

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