Payments Service Provider Landscape
The payments industry has experienced significant disruption during the last decade, accompanied by a rise in non-cash transactions. The number and diversity of organizations in the market have also grown significantly in recent years. With growing number of digital transactions, the instances of frauds, and collections burden has also increased, making it very difficult for banks to cope with the pressure of managing increasing payments operations with digitalization and customer experience improvement efforts.
The role of outsourcing service providers in the industry is also evolving in the industry as they are helping banks in responding to changes and moving faster, without taking unnecessary risks. Financial services firms are increasingly seeking third-party support to tackle operational challenges. The payments outsourcing, owing to its ability to offer customized solutions to financial services firms, is gaining traction with multiple service providers/vendors building their capabilities in this market.
Scope
- Industry: BFS
- Geography: global
- In this report, we study vertical-specific payments BPS. We have not covered horizontal business processes such as Finance and Accounting (F&A), and procurement
Contents
This report includes:
- Analyze non-cash transaction volumes for the US and the UK
- Payments outsourcing market size and growth
- Payments outsourcing market adoption by buyer geography and lines of business
- List of key payments services providers and summary profile of services providers