Worldwide Payments Industry Predictions 2018
Source: IDC
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Worldwide Payments
2018 Predictions
1
In 2018, Financial Institutions Will Allocate $6 Billion to Internal Resources to Handle Transforming Their Payment Systems.
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Worldwide Payments
2018 Predictions
2
In 2019, P2P Transactions Worth a Total of $6.0 Trillion Will Be Made Worldwide Using Mobile Devices.
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Worldwide Payments
2018 Predictions
3
DLT-Based Networks Will Be Launched Within the Next 24 Months in 25% of Global Transaction Banks — in Particular, to Facilitate KYC, Accelerate Supply Chain Finance, and Drive SME Lending — But Blockchain Payment Systems Will Not Be a Priority Area.
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Worldwide Payments
2018 Predictions
4
In 2018, More than $150 Billion Will Be Spent Through IoT and Connected Devices.
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Worldwide Payments
2018 Predictions
5
By 2021, 75% of Enterprise Point-of-Sale Vendors Will Have Begun Significantly Re-Architecting Their Solutions to Meet Rising Expectations for Current Omni-Channel Capabilities and Customer Experience Expectations.
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Worldwide Payments
2018 Predictions
6
Despite the Lack of an Equivalent Regulation to PSD2, by 2021, 90% of Non-European Banks Will Have Moved in a Similar Direction to European Banks in Terms of Sharing Data via APIs, But They Will Have Done So for Competitive Reasons Rather Than Regulatory Ones.
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Worldwide Payments
2018 Predictions
7
Corporate Banks Will Invest 15–20% More in Big Data/Analytics in 2018 than in 2017 — $2.2 Billion in Total — in Their Efforts to Move from a Transactional to a Data-as-a-Service Business Model, Offering Real-Time and Predictive Analytics on Fraud, Compliance, and Scenario Modeling.
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Worldwide Payments
2018 Predictions
8
By 2019, 70% of Standalone Mobile Payment Players Globally Will No Longer Exist in Their Current Form; Through Natural Evolution, Mergers, and Acquisitions, Mobile Payment Players That Are Showing Promise Today Will Have Transformed into Full-Fledged Financial Services Ecosystems.
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Worldwide Payments
2018 Predictions
9
By 2021, All Major Payment Service Providers Will Interact with Digital Identity Marketplaces Used by Consumers and Businesses to Self-Govern Private Data Sharing and Use, Allowing Data to Be Uploaded for Payment Companies to Access via a Subscription Model.
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Worldwide Payments
2018 Predictions
10
In 2020, 25% of Card-Issuing Banks Will Use Micro-Location for Enhanced Security Through a Combination of NFC and Beacons to Satisfy Mutlifactor Requirements to Secure Payments, Such as at POS and P2B.
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Trusted Partner for Digital IT, BI Analytics, Automation & Data Management USA 1923 Bragg St #140-3219 Sanford, NC 27330 +1-30235 14656
INDIA 17/1, Amblipura, Bellandur Bengaluru +91-99524 22243
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