Hi,
I wanted to make sure you didn't miss the release of the new 2019 edition of our Payments Ecosystem Report, the definitive guide for anyone who needs to understand the present and future landscape of the payments industry.
The Payments Ecosystem is our all-time best-selling report thanks to its eye-opening data and easy-to-digest breakdown of the key shifts, trends, and growth drivers in the payments industry. The 2019 edition includes critical coverage of how connected devices are becoming the payments tools of choice among consumers and merchants alike, how digital peer-to-peer (P2P) payments are on the rise as users look for easier ways to send and receive funds, and how demand for greater speed, convenience, and value is driving digital remittances.
Read further below for more on the report and how to get it.
Regards,
John Heggestuen
Vice President of Research
A Division of Insider Inc.
---------- Forwarded message ----------
From: The Payments Research Team - Business Insider Intelligence <newsletter@businessinsider.com>
Date: Mon, Dec 17, 2018
Subject: The NEW Payments Ecosystem Report: Everything you need to know about today's payments landscape...
To: nguyenvu1187.love5@blogger.com |
| | A deep dive into the payments industry's biggest shifts, trends, and growth drivers... Hi there,
We're really excited about the release of the latest annual edition of The Payments Ecosystem Report. This newest version demonstrates how connected devices are becoming the payments tools of choice among consumers and merchants alike, how digital peer-to-peer (P2P) payments are on the rise as users look for easier ways to send and receive funds, and how demand for greater speed, convenience, and value is driving digital remittances.
These are the key points covered in the report:
- Digital payments volume is blossoming worldwide, enabling firms to branch into new services. Connected devices are becoming the payments tools of choice among consumers and merchants alike, seeding digital payments volume growth. Increasingly, firms that enable digital payments are deepening their relationships into more use cases on both sides of the counter.
- As payments companies break into new services like lending, omnichannel payments, or POS financing, they're tapping into a wellspring of revenue. Across the industry, incumbent and upstart firms alike are rapidly building, buying, and partnering to grow new revenue generators.
- The global interchange squeeze is poised to accelerate the rush to value-added services. Payments firms have been on the losing end of regulatory and legal challenges to payments fees in the US, Canada, and other countries.
- To understand the shakeup in payments, it's necessary to first grasp the traditional payments value chain. The channels and front-end methods that customers use to make payments are evolving, but behind the scenes, the way payments are processed and the players they interact with (including acquirers, issuers, and processors) remain similar — particularly when it comes to in-store transactions..
- E-commerce is accounting for a greater share of retail sales. Ninety percent of total US retail still occurs in-store, where payments are getting faster and more automated. But e-commerce, which hit $453 billion in the US last year, is growing faster, and should increase to over $1 trillion in 2023 — accounting for nearly a fifth of total retail.
- Though PCs still comprise the lion's share of e-commerce sales, m-commerce will be a major growth driver. Between now and 2023, m-commerce will grow at a 24% CAGR, compared with just 8% for PC commerce.
- Digital peer-to-peer (P2P) payments are on the rise as users look for easier ways to send and receive funds. The rapid proliferation of apps like Venmo and Square Cash have made them nearly ubiquitous among younger users. This is growing digital P2P, which is poised to hit $574 billion by 2023 as older and unbanked users enter the market and new use cases that make these services more valuable and convenient drive up adoption..
- Demand for greater speed, convenience, and value is driving digital remittances. New entrants to the space and increased demand for fast, convenient solutions in sending funds will help digital remittances grow to comprise over 50% of total remittance volume by 2023.
- More users are dabbling with digital and mobile wallets as e-commerce and smartphone reliance grows. Mobile payments are the star of the show in developing regions, especially China and India, but they haven't reached their inflection point in many developed countries, as users prefer physical card payment
- Demand for instant transactions is boosting ACH. The implementation of faster payment schemes in markets worldwide, and its advancement in the US, is leading to rising ACH usage in the US, with 23 billion payments — up 20% from 2015 — expected this year.
- And B2B payments — the largest segment both in the US and worldwide — will see increased digitization thanks to the introduction of new solutions. High prices and lack of access have kept B2B payments predominantly analog — over half of all B2B payments are still made via check — but shifting consumer habits and an increase in available solutions for businesses of all sizes will propel digitization as the overall B2B space grows at a 5.8% CAGR to hit $27.3 billion by 2023.
We don't want you to miss out on the opportunity to receive the newest version of the only resource you need to fully understand the fintech space. So we're giving you two ways to access this report:
- Subscribe to a Premium membership to Business Insider Intelligence to receive The Payments Ecosystem Report PLUS more than 275 other research reports that cover the changing landscapes of payments, fintech, e-commerce, and more. You'll also receive all 8 of our daily newsletters first thing each morning to get you up to speed on the latest developments in your industry.
- Purchase and download the report directly from our research store (but you'll miss out on all the up-to-date fintech analysis our subscribers receive).
Whatever you decide, you've given yourself a powerful tool in understanding the present and future landscape of the payments industry.
Sincerely,
The Business Insider Intelligence Team
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