This IDC Financial Insights report looks at emerging payment networks offering alternatives to the legacy payment networks that banks access to make retail payments possible. Retail payments in the United States has long been dominated by a small set of networks and providers controlling the transfer of funds through banks. Recent events in payments, however, have presaged the rise of alternative payment providers offering competitive networks that financial institutions can use to offer P2P transactions, bill payments, and payments at the point of sale. This represents a fundamental shift in the way payments are offered to consumers, a shift that will lead to new products and services built on top of those rails."For decades, the payment market has meant an option between a small number of credit and debit networks connecting banks to make payments possible," said James Wester, research director of Worldwide Payment Strategies. "That will begin to change as new competitors leverage transformation technologies to offer compelling payment networks to banks and as banks recognize those alternatives give them flexibility in how they manage their payment businesses."
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Payments Landscape in Nigeria: Opportunities and Risks to 2022 Summary The use of cash for consumer payments remains highly prevalent among Nigerians, especially among the rural population; this is primarily due to a limited public awareness of other instruments and limited access to banking infrastructure.However,...
118 pages •
By yStats - Global E-Commerce Intelligence
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Asia-Pacific payments market sees cash overrun by digital wallets A new report, highlights the growth in online and mobile payment services in Asia-Pacific. The report entitled “Asia-Pacific Online Payment Methods 2019” accents the potential growth of mobile wallets and showcases digital buyers’ payment preferences...
42 pages •
By Euromonitor International
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Financial cards and payments in Egypt continued to perform positively in 2018, despite facing challenges such as relatively low card penetration rates, underdeveloped payment infrastructure, a large rural population and the strong presence of traditional retailers in the country. The market as a whole benefited, as banks increased the geographical...
Payments Landscape in China: Opportunities and Risks to 2022 Summary GlobalData’s "Payments Landscape in China: Opportunities and Risks to 2022", report provides detailed analysis of market trends in the Chinese cards and payments industry. It provides values and volumes for a number of key performance...
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In 2018, US consumers continued their shift towards debit cards. The ease of use of financial cards and an increasing tendency among merchants to offer cashless forms of payment has favoured the use of cards over cash for small purchases, resulting in an overall decrease in spend by card for the whole area. Meanwhile, credit cards, which have...
48 pages •
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Financial cards are on a path that only seems to be going up in Romania. 2017 and 2018 marked new peaks in terms of number of cards in circulation, transactions and value. On the one hand this was the result of the favourable environment, with the economy posting strong growth again after the 7% recorded in 2017. Consumption growth ranked...
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Latin American E-Commerce payments market led by cards, says the report Online shoppers in Latin America prefer to pay by card Different types of cards were the preferred method of more than 50% of online shoppers in Latin America in 2018. Cash on delivery ranked second, followed by other alternative...
Payments Landscape in Poland: Opportunities and Risks to 2022 Summary Poland is one of the most advanced and innovative markets in Europe, offering consumers broad access to the latest technology in electronic payments. Nevertheless, cash is still very popular, accounting for 58.3% of the total payment...
Payments Landscape in Ireland: Opportunities and Risks to 2022 Summary GlobalData’s "Payments Landscape in Ireland: Opportunities and Risks to 2022", report provides detailed analysis of market trends in the Irish cards and payments industry. It provides values and volumes for a number of key performance...
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