Global Payment Trends Market: Overview
Rapid technological advancements and industrial revolution worldwide make payments increasingly crucial component in the banking industry. The emergence of electronic-transaction along with rapid digital commerce growth, and increasing cross-border activities have given a healthy shape to the existing payment methods. Such rapid growth of the payments component pointing various financial institutions for developing innovative payment strategies to stay competitive in the market. Payment infrastructure are requiring next-generation tools for enhancing the customer experience. Various alternate payments channel such as wearables and contactless technology is gaining traction in the global payment trends market.
Apart from this, instant payments are also becoming a catalyst for next-generation payments technology. Such payments introduce customers in faster and better payments solutions. Along with this, cross border payments are also expected to transform by advanced technology such as blockchain. Incorporation of such technology helps in offering inexpensive, efficient, and faster transfer. All such factors are driving the global payment trends market.
Furthermore, mobile payments has become a latest attraction in the global payment trends market. Rising adoption of mobile pay such as Apple Pay and Google Pay has completely changed the conventional payment methods. Currently, this is the most preferred payment method worldwide, which promises more frictionless and more secure transactions. Apart from this, a few Chinese e-wallet models are also becoming popular in the global payment trends market. All these alternative payment methods are rapidly expanding in the regions such as the North America, Europe, and Asia Pacific. Such USPs are boosting the global payment trends market.
"Payments: Key Payment Trends in 2018 - a more collaborative ecosystem", a vertical focused report by GlobalData, is one of the many products in the digital Industry product portfolio.
- Brief overview of the technology and its relevance in the verticals.
- Key challenges faced by the industry verticals (payments) pertinent to its technology (fin-tech) implementation.
- Elaborate overview of supply side and demand side trends affecting the technology growth.
- Future recommendation and market opportunities for fine-tech in the payments industry.
Reasons to buy
- Helps the reader to understand the fin-tech market landscape in the payment industry, the recent trends, and challenges.
- Extensive technology growth predictions based on adoption indicators, end-user technology demand, GlobalDatas in-house ICT survey results, and macroeconomic factors.
- The report provides a detailed breakdown of the opportunities within the fin-tech segment and its sub categories.
Table of Contents
1 Introduction 3
2 Business challenges facing the payments industry 4
3 Market Dynamics 7
3.1 Demand side trends 7
3.2 Supply side trends 12
4 Recommendations for ICT Vendors 16
5 The Need for Instant Payments 18
6 Future outlook 22
6.1 Rising customer expectations for specialized services, and the emergence of FinTechs and new payment technologies is leading to a more collaborative payments ecosystem 22
7 Appendix 23
7.1 Definitions 23
7.2 Further reading 24
7.3 Contact the author 25
7.4 Contact Us 26
List of Tables
Table 1: Value of global transactions by region (US$ billions) 19
Table 2: Value of global transactions by payment instrument type (US$ billions) 21
List of Figures
Figure 1: Key business challenges facing the payments industry 4
Figure 2: Key demand and supply side trends impacting the payments market 7
Figure 3: Exploring distributed ledge technology in the payments sector 11
Figure 4: Benefits of a collaborative payments ecosystem 12
Figure 5: Key recommendations for ICT vendors in the payments sector 16
Figure 6: Value of global transactions by region (2016-21) 18
Figure 7: Value of global transactions by payment instrument type (2016-21) 20
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