How will PSD2 and Instant Payments impact cards? New research now available.
Consumer payment preferences are changing dramatically all around the world. Never before has there been so much choice available when the time comes for paying for goods or services. This has been fuelled by the introduction of new technologies, alternative payment methods and the push towards payments digitization. In many regions cash and cheque usage are showing significant decline with some countries, like those in the Nordics, making solid progress towards becoming cashless societies.
Instant payment bank rails are becoming practical alternatives to the traditional international card networks Visa and Mastercard. New regulations such as PSD2 are also a major driver towards these changing payment options and preferences.
How can banks plan for this change? How can they ensure their businesses are positioned to take advantage of the potential shift in customer behaviour?
Ovum, a leading analyst house, has undertaken ground-breaking research, commissioned by Icon Solutions, to help answer these questions. The findings and analysis have been published in a comprehensive whitepaper “Instant Payments and post-PSD2 Landscape”.
- provides a detailed understanding of the market landscape
- identifies the key trends, benefits and insights
- shares the implications of market forces on card and bank payment volumes
- offers a break down of projected payment volumes across type, value and organisation
- suggests best practices needed to improve competitive advantage for banks, payment providers and other market participants
You can obtain a copy of the whitepaper from here.