Summary of Global Payments 2016

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Global Payments 2016 summary
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Rating

8

Qualities

  • Well Structured
  • Comprehensive
  • Innovative

Recommendation

According to this in-depth yet accessible report from professionals at the Boston Consulting Group, the payment services industry is in for long-term turmoil in its fundamental customer offerings and revenue sources. In 2016, some of the substance of that change is visible, as in the advent of mobile service enhancements and digital payments. However, the types of organizations that will achieve success are not yet in focus. getAbstract recommends this industry study to financial executives involved in payment systems.

About the Authors

Stefan Dab et al. are professionals with the Boston Consulting Group.

 

Summary

Payment systems vary across the world. In Europe, regulations that take effect in January 2018 will create more competition among banks and make it easier for fintech services to capture consumers’ business. In North America, credit cards generated 63% of payment revenues over 2010 to 2015, reflecting the strength of card networks. In China, fintech upstarts such as Ant Financial and Tencent generated more customer activity and buzz in 2016 than many people expected.

Global revenues from payment services reached $1.1 trillion in 2015 and are on track to increase to $2 trillion...


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