The Future of Payment
Customer Focus and Innovation will be the Decisive Factors for Future Success.
How will we pay in future? Online retail trade is growing, and smartphones require new, digital solutions. Will the global internet giants conquer payment systems, and reduce banks’ access to customers? Or will banks be successful in asserting their market position using innovative and customer-friendly payment and account management services? Perhaps successful online banks, together with fintech startups, will take over the payment market?
The most probable outcome is that the range of new payment services will continue to be as diverse as it is now, and divide up the market. Parties that use innovation and customer focus to set their offerings apart will establish, assert and increase their shares in this market.
Find out more about the future of payment and the effects of online and mobile payment processes on the cash economy here.