This report discusses 10 themes that will impact the payments industry in the coming years. Some of those themes are still at an early stage of development, but we can already see the impact they will have on the industry. Fintechs are able to challenge traditional financial institutions by leveraging new technologies to disrupt the industry. Companies that are not able to adapt to the changes brought about by these key themes will be left behind.
The payment sector is evolving as a result of technological changes, some of which have been accelerated by the COVID-19 pandemic. New technologies such as artificial intelligence, blockchain, and mobile payments are being adopted to help along the transformation of the industry.
- Mobile payment adoption has accelerated due to COVID-19 amid the growing preference for contactless payments and the ubiquity of smartphones.
- Due to the growing reliance on digital payments, cybersecurity is becoming a bigger issue. Companies will need to invest in this theme to protect their customers’ funds and data.
- Blockchain technology is being adopted by financial institutions like JPMorgan Chase, while central bank digital currencies are also being developed.
Reasons To Buy
- Understand the 10 key themes for payments in 2021 and how they will impact the market.
- Understand which companies are ahead of their competitors by virtue of their strong positions relative to these key themes.