Disrupt or be Disrupted: a Payments Outlook for the Digital Age
Viewpoint
Web 3.0 technologies are revolutionizing the payments industry and driving a major restructuring. As new payment market participants expand their operations, the demand for Business Process Services (BPS) is expected to soar. This shift is fueled by changing consumer behavior, market dynamics, and the constantly evolving technology, infrastructure, and regulatory landscape. Therefore, it is not surprising that providers and enterprises are showing immense interest in the payments market.
In this report, we explore the evolving payments ecosystem and the disruptive trends surrounding recession, geopolitical conflicts, digital adoption, sustainability, and innovation. We also discuss the processes that are likely to experience an increase in outsourcing demand in the near term such as transaction screening, fraud detection, chargeback, and dispute management. Additionally, the report covers technologies such as blockchain, metaverse, Artificial Intelligence (AI) / Machine Learning (ML), Application Programming Interface (API), Real Time Payments (RTP), and quantum computing, along with some of the major challenges faced by industry participants. It also offers a comprehensive overview of the payments solution landscape and the different delivery models provided by third-party providers.
Scope
- Industry: Banking and Financial Services (BFS)
- Geography: global
Contents
In this report, we:
- Examine the evolving payments landscape and the trends impacting its future
- Explore the major challenges that payments industry participants face
- Present a framework to understand the various elements of the third-party payments solution landscape