The Ongoing Payment Revolution

The financial services industry is in the midst of a significant transformation, with much of this push for change being driven by consumers’ demand for more convenient payment solutions. While this trend began to take shape some time ago, the COVID-19 pandemic has been the impetus for even faster adoption and greater demand for digital payment options. In fact, current estimates predict an 80% increase in global cashless payments by 2025 and a near tripling of them by 2030. This is leading to huge structural changes in the payment ecosystem and creating a complex payment matrix that many organizations are racing to understand in order to figure out how to come out a winner on the other side of the payment revolution.