For decades banks have enjoyed an almost unchallenged position as guardians of global
payments systems. It is a privilege that has been exceptionally rewarding.
But a host of forces have aligned to cast the "old world" of payments into history.
Driven initially by the explosion of e-commerce — and more recently m-commerce — a range of new and technologically sophisticated entrants have leapt over the traditional barriers and are muscling in on what has been for so many banks the best business in banking.
As the traditional cash cow product line that is the credit card finds itself under pressure from regulators, credit risk and modified customer preference — particularly in developed markets — so lines such as debit and prepaid assume a greater presence in the product mix.
Meanwhile the arrival of mobile adds powerful new participants to the payments value chain,
not least the mobile network operators (MNOs).
The New Payments Landscape will assess the strategies of the rapidly expanding parties that
make up the new payments "ecosystem", look at where the industry is going and determine how sustainable business models are likely to evolve.
Tracing the historical evolution of the global payments industry, The New Payments Landscape analyses the rise of alternative/advanced payments and the implications of mobile/internet delivery.
Critically, it highlights the role of data and the information value behind payments transactions in the new world of loyalty, customer profiling/CRM, coupons and location-based services/offers — the value-added services that promise to compensate for falling fees and margins.
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