2018 Global Payments Insight Survey Overview

Investing in the Future of the Customer Experience

To succeed in a rapidly changing environment, enterprises need to invest in the foundations for future innovation. This paper covers payments trends across verticals and provides insights into top priorities for current investment and the evolution in viewpoints on payments innovation.

• 51% of all merchants, billing organizations, and retail banks will increase their IT budgets for payments-related projects in 2018, with over a fifth increasing spending by 5% or more on 2017 levels.
• The rollout of new real-time payment (RTP) infrastructure in 2017 has driven a marked change in attitudes. RTP is becoming more widely viewed as the foundation of a wave of new customer-facing enhancements with 86% of banks either experiencing or expecting to see improvements in their customer service, up from 61% in 2017.
• At a global level, 78% of banks, 72% of billing organizations, and 68% of merchants believe that the combination of real-time payments and open banking will see the importance of payment cards decline over time.