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By Serena Smith, Division Executive, International Payments
October 22, 2018
Payments convergence is presenting payment providers with new opportunities and pressures. Revenue is shrinking for many, but payment speed, volumes and processing complexity continue to increase. Payment providers must determine how to best streamline their legacy systems to stay competitive, manage rising regulatory burdens, accommodate standardization, open banking and APIs, and ensure they’re prepared for an uncertain future. All of this while reducing the total cost of ownership of the payments infrastructure.
To that end, we see five unavoidable market forces driving payments convergence that will determine how providers will adapt their payments infrastructure to respond to the current and future demands.
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Tags: Investments, Payments, Technology
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