|By PR Newswire||
|January 30, 2014 09:47 AM EST||
LONDON, Jan. 30, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:
2020 Foresight Report: Consumer Centric Payment Innovations
The report provides information and insights into the changing landscape of the payment industry and emerging consumer trends acting as stimulating factors:
• Provides global snapshot of payment innovations introduced by banks as well as non-bank payment companies in the key regions of the world
• Provides insights into market potential of key payment cards and also discusses the state of mobile card payments in selected countries
• Analysis of consumer technology trends and drivers highlighting key operational opportunities
• Analysis of key issues faced by central banks, commercial banks and new market entrants while dealing with innovative payment solutions
• Provides insights into best practices followed by market players to target key consumer drivers as a strategy to maximize their revenue
Businesses are increasingly focusing on key consumer drivers such as convenience, accessibility, security, speed and the cost of payments to increase acceptability of their products and services, and gain an advantage over their competitors. To target these consumer drivers, stakeholders in the payment value chain are primarily concentrating on digitalization of payments, increased interoperability, and the introduction of disruptive strategies to plug gaps in user demand and solutions offered by the industry. Changing consumer behavior, such as increased use of mobile devices to manage day-to-day activities and the increasing use of social media, has attracted a number of organizations to build their business and product strategies around these platforms.
• This report provides a comprehensive analysis of developments in the payment industry with a primary focus on consumer oriented products and services
• Provides data forecasts for credit, debit and prepaid cards with historical insights on mobile card payments in selected countries
• It covers key trends expected to reshape the payment landscape over the next five years
• Provides insights into key technology drivers responsible for enabling organizations to introduce disruptive products and services
• It covers the key challenges faced by central banks in regulating and the challenges faced by commercial banks and non-bank payment companies in introducing and sustaining an innovative payment service
• It provides insights on the implementation strategies and best practices adopted by both banks and non-bank payment companies to drive revenue generation with the help of detailed case studies
Reasons To Buy
• Understand the dynamics of the evolving landscape of the payment industry on the back of changing tastes and preferences of consumers across key markets worldwide
• Assess the current and future opportunities in various payment solutions and learn best practices to strengthen your business strategy and target consumer drivers more efficiently
• Gain insights into various types of innovative services entering the payment ecosystem and their likely impact on redistribution of market share among various stakeholders
• Gain insights into key consumer trends and technical drivers which are stimulating innovations along with information on expected hurdles in sustainability of new products
• Innovations in payment can be broadly classified under four categories: innovations in payment cards; online payments, including electronic bill presentment and payments; mobile payments; and developments in overall payment infrastructure and security. Focus has increased on the convenience and speed of payments. As a result, mobile payments have received significant attention in recent years.
• Regions dominated by emerging economies, such as Asia-Pacific, Africa and Latin America, exhibit high growth potential in innovative payment solutions, although most innovations currently tend to stem from North America and Europe. Europe, however, is expected to lose some steam over the next five years, while North America is forecast to continue to impress with new payment solutions, primarily led by developments in the US. Countries such as Turkey are highly innovative in terms of payment products and services, with consumers showing a readiness to experiment, as are parts of the Middle East, as regulation can be scattered and consumer demand pushes for new payment options.
• Social media networks such as Facebook, Twitter and Instagram have become an attractive platform to target consumers. There are more than 1.15 billion (as per Facebook's Q2 2013 earnings report) and 500 million users (as of March 2013) on Facebook and Twitter respectively, and their users bases are growing rapidly every year. This presents lucrative opportunities for merchants, financial institutions and new entrants to capitalize on a ready market.
• Data analytics, powered by cloud and social media, are allowing stakeholders in the payment industry to identify gaps in the payment value chain and increase their probability of revenue generation. It is also being extensively used to address security concerns and limit exposure to fraud risks for card issuers, acquirers, merchants and network operators. Open APIs have emerged as another key enabler of innovation in the payment industry. Open APIs enable the development of payment gateways and solutions at a fraction of the cost of developing a payment system from scratch.
• To remain competitive and gain market share, financial institutions and payment companies across the world have adopted various strategies in line with changing consumer behavior and technology. Companies have entered into agreements with merchants, as well as with each other, to reach a larger customer base, while service providers are also increasingly adopting emerging technology such as NFC, MPOS and mobile apps. There is also increased focus on using social media to generate sales and collect analytical data for strategic decision making.
Table of Contents
1 Executive Summary
2 Global Snapshot of Payment Innovations, and Regional Overview
2.1 Snapshot of Payment Innovations
2.2 Regional Overview
3 Market Potential of Payment Channels and Products
3.1 Market Share of Payment Channels
3.2 Payment Dynamics and Outlook by Card Products
3.2.1 Prepaid cards
3.2.2 Debit cards
3.2.3 Credit cards
3.3 Market Size of Card Payments through Mobile Devices in Selected Countries
3.3.1 The US
3.3.2 The UK
4 Consumer Technology Trends Driving Innovation in Payments
4.1 Emerging Payment Channels
4.1.1 Social media
4.1.2 Mobile devices
4.2 External Enablers of Innovation in Payments
4.2.1 Cloud technology
4.2.2 Data analytics
4.2.3 Open APIs
5 Issues and Challenges
5.1 Central Banks
5.2 Commercial Banks
5.3 Non-Bank and Alternative Payments
6 Payment Innovation Case Studies
6.1 Best Practices to Target Consumer Behavior
6.2 Case Studies
6.2.1 Launch of innovative mobile app by Barclays in the UK
6.2.2 The Home Depot's adoption of MPOS technology to improve consumer satisfaction
6.2.3 Octopus cards – expansion beyond transport in Hong Kong
6.2.4 La Caixa's introduction of the world's first contactless ATMs in Spain
6.2.5 Plink – the innovative loyalty payment system
6.2.6 Chirpify – reinventing payments through social media
7.2 Contact Timetric
7.3 About Timetric
7.4 Timetric's Services
List of Tables
Table 1: Innovations by Product Category in Key Regions
Table 2: Prepaid Card Transaction Values in Selected Countries (US$ Billion), 2008–2017
Table 3: Debit Card Transaction Values in Selected Countries (US$ Billion), 2008–2017
Table 4: Credit Card Transaction Value in Selected Countries (US$ Billion), 2008–2017
Table 5: Card Payments through Mobile Devices in the US (US$ Million), 2008–2012
Table 6: Card Payments through Mobile Devices in the UK (US$ Million), 2008–2012
Table 7: Card Payments through Mobile Devices in Australia (US$ Million), 2008–2012
Table 8: Card Payments through Mobile Devices in Singapore (US$ Million), 2009–2012
Table 9: Card Payments through Mobile Devices in India (US$ Million), 2009–2012
List of Figures
Figure 1: Market Shares of Payment Channels in Selected Countries, 2012
Figure 2: Prepaid Card Transaction Values in Selected Countries (US$ Billion), 2008–2017
Figure 3: Debit Card Transaction Values in Selected Countries (US$ Billion), 2008–2017
Figure 4: Credit Card Transaction Value in Selected Countries (US$ Billion), 2008–2017
Figure 5: Card Payments through Mobile Devices in the US (US$ Million), 2008–2012
Figure 6: Card Payments through Mobile Devices in the UK (US$ Million), 2008–2012
Figure 7: Card Payments through Mobile Devices in Australia (US$ Million), 2008–2012
Figure 8: Card Payments through Mobile Devices in Singapore (US$ Million), 2009–2012
Figure 9: Card Payments through Mobile Devices in India (US$ Million), 2009–2012
Figure 10: Number of Mobile Subscriptions (Million), 2009–2013
Figure 11: Broadband Internet Users on Mobile Devices (Million), 2009–2013
Figure 12: Cloud Models
Figure 13: Intensity of Challenges in Developed and Emerging Economies
Figure 14: Basel II vs. Basel III
Figure 15: The Barclays Pingit App
The Home Depot Inc.
ASB Bank Limited
Royal Bank of Canada (RBC)
Read the full report:
2020 Foresight Report: Consumer Centric Payment Innovations
For more information:
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
You use an agile process; your goal is to make your organization more agile. But what about your data infrastructure? The truth is, today's databases are anything but agile - they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application an...
May. 30, 2015 06:00 PM EDT Reads: 3,550
Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
May. 30, 2015 06:00 PM EDT Reads: 5,369
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
May. 30, 2015 05:00 PM EDT Reads: 5,882
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
May. 30, 2015 04:00 PM EDT Reads: 6,457
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
May. 30, 2015 03:45 PM EDT Reads: 2,453
Andi Mann has been serving as Conference Chair of the DevOps Summit since its inception. He is one of the world's recognized leaders in DevOps, and continues to be one of its most articulate advocates. Here are some recent thoughts of his in an interview we conducted in the run-up to the DevOps Summit to be held June 9-11 at the Javits Center in New York City. When did you first start thinking about DevOps and its potential impact on enterprise IT? Andi: I first started thinking about DevOps b...
May. 30, 2015 03:00 PM EDT Reads: 719
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
May. 30, 2015 03:00 PM EDT Reads: 5,478
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgentha...
May. 30, 2015 02:30 PM EDT Reads: 758
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
May. 30, 2015 02:15 PM EDT Reads: 1,329
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
May. 30, 2015 02:00 PM EDT Reads: 1,545
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
May. 30, 2015 02:00 PM EDT Reads: 1,278
How does one bridge the gap between traditional enterprise storage infrastructures and the private, hybrid, and public cloud? In his session at 15th Cloud Expo, Dan Pollack, Chief Architect of Storage Operations at AOL Inc., examed the workload differences and required changes to reuse existing knowledge and components when building and using a cloud infrastructure. He also looked into the operational considerations, tool requirements, and behavioral changes required for private cloud storage s...
May. 30, 2015 02:00 PM EDT Reads: 2,834
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
May. 30, 2015 02:00 PM EDT Reads: 5,581
The speed of product development has increased massively in the past 10 years. At the same time our formal secure development and SDL methodologies have fallen behind. This forces product developers to choose between rapid release times and security. In his session at DevOps Summit, Michael Murray, Director of Cyber Security Consulting and Assessment at GE Healthcare, examined the problems and presented some solutions for moving security into the DevOps lifecycle to ensure that we get fast AND ...
May. 30, 2015 02:00 PM EDT Reads: 4,946
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In this session, James Kirkland, Red Hat's Chief Architect for the ...
May. 30, 2015 01:00 PM EDT Reads: 749