The payments ecosystem is a complex global machine. The way we pay is changing dramatically. There are thousands of companies that are competing in an attempt to facilitate how companies accept payments.
The difficulty of the payments industry is the transfer of information from one party to another – every stakeholder benefits when the process runs on a common set of rails.
The past year has been dramatic for the payments industry. Payments companies have improved security, expanded mobile offerings and developed new and innovative commerce capabilities
The complexity of the payments industry makes it difficult to really understand where the next opportunities lie. An understanding requires clarity of the unique roles in the industry: processors, acquirers, issuers, card networks, ISOs, gateways and value-added providers such as chargeback management vendors.
New and alternative technologies will disrupt the ecosystem. Smart watches, refrigerators, block chain technology – all of these things and more will change how card payments are made.
This section of B2BLabs will present key themes and trends impacting the payments industry. Interested in contributing to this Content Hub, simply submit your content at www.b2blabs.com/submit-content