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The New Payments Landscape: The alternatives go mainstream

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The New Payments Landscape: The alternatives go mainstream

by Peter Kinahan

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). In that light, this new Lafferty Group report – The New Payments Landscape – seeks to answer the key questions on the minds of payments industry professionals everywhere:

-  What are the profitability prospects for payments in the light of new models based around advanced/alternative payments?

-  How have the incumbents been positioning themselves for the new reality?

-  What kind of value-added services and revenue streams are likely to emerge in attempting to compensate for falling margins and fees?

-  How real is the threat from mobile and new entrants such as PayPal?

-  What will be the impact of regulation?

-  Are banks losing out to MNOs in the developing world? 

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.

About the author

Peter Kinahan is senior researcher at Lafferty Group with responsibility for undertaking major research studies.

He has been involved with the company since the early 1990s when he was group editor - banking, responsible for editing titles such as Retail Banker International, Cards International and European Banker.

He was formerly markets editor with the Sunday Business Post, Ireland’s leading financial, political and economic newspaper.

He has worked extensively in financial eLearning with some of the world’s largest banking groups and he specialises in web-based marketing interventions based around customer education and financial literacy for the financial services industry.

Release date: May 2012

Pages: 132

About Lafferty Group

Lafferty Group is a major provider of advanced knowledge services for the financial industry worldwide, with particular specialisations in the fields of retail banking, cards & payments and central banking.