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Top Trends in Banking 2021 eBook

Top Trends in Payments 2021 Top Trends

2020 has heralded an era of major changes in technology adoption and consumer behavior.

Payments-as-a-Service is becoming the option of choice for both cost-effectiveness and
speed-to-market. In a scenario where business and revenue models are challenged – and
digital mastery is the competitive differentiator – players are implementing to expand and
fortify their ecosystems. Investments in super-app models emerging technologies are on the
rise to mitigate fraud. Data-driven offerings are being considered for providing value-added
propositions. Distributed ledger technology is in focus for digital currency solutions, efficiency
enhancement, and cost gains.
Payments are now part of the retail ecosystem, and digital IDs offer shoppers seamless
experiences and end-to-end value. Demand and preferences for digital payments were already
high, and now COVID-19 is prompting demand for alternative payments, which offer more
speed, convenience, and superior CX. Ensuring foolproof customer authentication and
transaction security is a prerequisite for firms today, as payments transition to open
infrastructure and digital payments continue to proliferate.

With the entry of new payments players and diverse offerings, the industry will become more
complex, requiring regulators’ attention to balance the growing market landscape. Regional
initiatives such as P27 (Nordics real-time payments system) and the EPI (European Payments
Initiative) are gaining traction in response to country-level fragmentation and competition.

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TOP TRENDS IN PAYMENTS 2021
Pandemic fuels promising growth and opportunities for new players, urging regulators
to increase scrutiny and mitigate systemic risk

COVID-19 is
fast-tracking Retailers leverage Technology giants
Digital ID for
customer adoption enabling invisible augment payments
offerings to attract
of alternate
payments payments new customers
For more information or a private presentation on Top Trends in Payments Regulators beef up scrutiny of new players and offerings
as the ecosystem evolves
2021, contact us at financialservices@capgemini.com

Improve go-to-market agility and business resilience through intelligent processes
8 Transition to “as-a-service” model 9
Payments-as-a-Service gains traction
among small-and mid-tier institutions

Leverage distributed Diligent investments
ledger technology (DLT) in emerging technologies
Payments firms turn to DLT Tech investment surges as
for efficiency and economy payments firms fortify
transaction data security
Deploy open ecosystem mindset to ensure seamless CX and fight competition
Data Analytics
Data-driven offerings are the latest
winning propositions for payments firms
Super-app business models
Super-app operating models offer a path
to one-stop functionality markets and
end-to-end CX
Industry collaboration
Evolving regional payment schemes are poised
to challenge the powerhouse status-quo

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