Some payment industry forecasts from
Business Insider Mag:
-
The
ecosystem for credit- and debit-card processing involves a complicated
set of players interacting to process every transaction. Five
types of players are involved: acquirers/processors, issuers, card
networks, gateway providers, and independent sales organizations
(ISOs).
-
To process a typical transaction, three steps must occur: authorizing, batching, and funding. Each participant in this process takes a fee off of the total volume of a transaction. The remainder is deposited in a merchant's account.
-
Three trends will shape the payment-card-processing ecosystem from 2015 onward: the
EMV security migration, rapid development of new payment technologies,
and the massive card-fraud problem in the US. While none of these
developments will completely upend the incumbent system for processing
payments, each will disrupt key players.
-
The mobile point-of-sale (mPOS) is going to have a massive impact on the payments-hardware and payments-software industry. By
2019, we forecast that nearly 80% of US retailers will have implemented
a mPOS device. The move to mPOS will continue to put pressure on
hardware providers that compete directly against mPOS devices, as well
as ISOs that sell legacy devices to merchants.
- While
the payment-card-processing system as a whole isn't in danger, the
proliferation of mobile devices will have a significant effect on the
way we pay.
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