from the war of transaction margins.
Since early 2020, we have seen a massive acceleration of digital payments - a shift towards e-commerce, contactless (even in Germany people), instant payments, buy now pay later or loyalty.
Payment in 2021 is more than just moving money - marketplace solutions, instant onboarding, B2B2C credits or loyalty schemes as a few examples.
The platform-as-a-service business model is taking over because it combines a superb customer experience while running efficient on cost of operations.
The whole industry has adopted the pace of change to extend the value chain while new players, such as retailers/merchants, are integrating payments into their own infrastructure.
Acquirers must evolve by enhancing their product offering or by building scale. The pressure for transaction margins is on, but customers are willing to accept fees for higher authorization rates or improved cart conversions.
On the Issuers side, mobile wallets are still going strong with the actual payment becoming almost invisible. Today, personal financing, loyalty tokens and digital identities step into the arena to create a customer experience that is finally personal and seamless.
Watch out for these 3 payment industry trends to establish themselves in 2021.
The commitment of card schemes is real to turn every phone into a card acceptance reader.
Combine open loop payments with loyalty, identity and mobility services in mobile wallets.
Flexibility in payment methods will become more important than ever.
We feel at home in the B2C & B2B space.
We have a large network to benefit from.
We are deep in the innovation game.
We always think customer first.