Payments and commerce is being disrupted as consumers and corporates are demanding speed, convenience and simplicity. Banking and payments are being radically altered as the industry marches towards digital services. New entrants are providing the market with new tools and incumbents are feeling threatened.
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In the second year of the global payment insight series ACI again partnered with technology firm Ovum to conduct a global survey of merchants, retail banks and billing organizations. In 2016 we also added transaction banks.
The five-part 2016 Global Payments Insight Series finds that today's payment players are investing in payments technology to stay relevant in the market place all while ensuring that security is embedded into new offerings.
- 76% of executives are increasing investments due to competitive pressures
- 60% of respondents believe that consumers will benefit directly from Immediate Payments
- 81% of retailers view banks as the primary provider of payment services