2021年支付趋势报告（英）_32页_1mb

Payments Industry Trends 2021 Summary

Core Content

The payments industry in 2021 is undergoing significant transformation driven by technological advancements, evolving consumer behavior, and regulatory changes. This summary outlines the top 10 trends shaping the financial services landscape, focusing on how payments firms and financial institutions are adapting to a digital-first environment.

Main Trends and Key Points

Trend 01: Payments-as-a-Service (PaaS) Gains Traction

• Core Content: PaaS is becoming a preferred solution for small and mid-tier institutions due to its cost-effectiveness and speed of deployment.
• Main Points:
  • PaaS allows for quick configuration of new payment features and supports legacy infrastructure upgrades.
  • It enables seamless integration of complementary services and enhances customer experience.
  • The PaaS market is projected to grow from USD5.7 billion in 2019 to USD16.7 billion by 2024 (CAGR of 24%).
  • Examples: Bank Austria with PayKey, Lloyds Bank with Form3, UniCredit with Nordic EquensWorldline, and Commerzbank with EquensWorldline.

Trend 02: Super-app Operating Models

• Core Content: Super-apps are redefining customer experience by integrating multiple services into a single platform.
• Main Points:
  • Super-apps offer a one-stop solution for financial and non-financial services.
  • They are particularly popular in Asia, with examples like Go-Jek (Indonesia) and Paytm (India).
  • The trend is expanding globally, including South America.
  • Mobile wallet adoption is driven by convenience and the integration of payment options within broader digital ecosystems.

Trend 03: Payments Firms Turn to DLT for Efficiency and Economy

• Core Content: Distributed Ledger Technology (DLT) is being adopted to enhance cross-border payments and reduce costs.
• Main Points:
  • DLT is used for cross-border payments, trade finance, and digital identity management.
  • Central banks are exploring DLT-based digital currencies, such as China's CBDC and Sweden's e-krona.
  • Examples: Banco Rendimento with Ripple, Marco Polo Network with major banks, and CaixaBank with we.trade.
  • DLT reduces transaction fees, increases transparency, and mitigates fraud.

Trend 04: Data-Driven Offerings

• Core Content: Payments firms are leveraging big data and analytics to offer personalized services.
• Main Points:
  • Data analytics is crucial for developing value-added services such as fraud prevention, credit risk management, and personalized payment options.
  • Tools like Smart Payment Buttons and One Touch from PayPal are examples of data-driven CX enhancements.
  • The global spend on big data analytics in BFSI was over USD180 billion in 2019.
  • Data integration and real-time analysis are key to improving customer engagement and operational efficiency.

Trend 05: Digital ID as an Invisible Payments Enabler

• Core Content: Digital ID is becoming essential for enabling seamless, frictionless payments.
• Main Points:
  • Digital ID supports background authentication and reduces payment friction.
  • It enhances customer experience and allows for hyper-personalized offerings.
  • Market growth is driven by rising fraud, biometric integration, and demand for instant data sharing.
  • Examples: Coop Norway with Aera, Eftpos Payments Australia, and the projected market growth from USD13.7 billion to USD30.5 billion by 2024.

Trend 06: Fast-Tracking of Alternative Payments Adoption

• Core Content: The pandemic has accelerated the shift to digital and alternative payment methods.
• Main Points:
  • Contactless payments and digital wallets are becoming more prevalent due to convenience and safety.
  • Governments and central banks are encouraging digital payments as an alternative to cash.
  • E-commerce is expected to drive future growth in non-cash payments.
  • Fee waivers and increased card limits are helping to boost adoption.

Trend 07: Tech Giants Augment Payments Offerings

• Core Content: Tech companies are expanding into the payments space to attract new users and enhance their ecosystems.
• Main Points:
  • Companies like Facebook and PayPal are developing multi-currency models and integrated payment solutions.
  • Tech giants are leveraging their user base and digital reach to offer competitive payment services.
  • This trend is reshaping the competitive landscape and pushing traditional banks to innovate.

Trend 08: Tech Investment Surges for Data Security

• Core Content: Payments firms are increasing their investments in emerging technologies to enhance security and operational excellence.
• Main Points:
  • Focus on fraud prevention, data security, and regulatory compliance is driving tech investment.
  • Solutions include AI, machine learning, and blockchain-based fraud detection.
  • Companies like Visa and Mastercard are using analytics to improve transaction security and customer experience.

Trend 09: Regulatory Scrutiny Increases

• Core Content: Regulators are closely monitoring new players and payment innovations to ensure compliance and consumer protection.
• Main Points:
  • New payment models and technologies are under increased regulatory review.
  • The focus is on reducing risks and ensuring trust in the digital payments ecosystem.
  • Regulatory changes are influencing the development and adoption of new payment solutions.

Trend 10: Evolving Regional Payment Schemes

• Core Content: Regional payment initiatives are challenging the dominance of global payment systems.
• Main Points:
  • Initiatives like P27 (Nordics) and EPI (Europe) are gaining traction to address fragmentation.
  • These schemes aim to provide more efficient and localized payment solutions.
  • The rise of regional payment systems is reshaping the global payments landscape.

Conclusion

The payments industry is evolving rapidly, with a strong emphasis on digital transformation, customer-centric approaches, and innovative technologies. As the sector adapts to new challenges and opportunities, the integration of PaaS, super-apps, DLT, and data analytics is becoming critical. Additionally, the rise of digital ID and alternative payment methods is enhancing convenience and security, while regulatory changes are ensuring a trusted and stable environment. These trends collectively signal a shift towards a more integrated, efficient, and secure payments ecosystem.