The years of wild partying have ended. I went in search of survivors.
It's hard to imagine, but the concept of the job is almost at an end.
Jobs are how organizations operate, a way of managing work and workers. Yet many recognize that organizing around jobs is no longer the best way to work.
- Acquirers and processors are competing to enhance their value propositions
- Card and automated clearing house (ACH) payment networks are dueling for volume
- Issuers can lean on customer relationships and tranches of data to respond to innovation
Amid economic uncertainty, payments providers are making meaningful shifts to digitize and innovate as they continue to grow at a projected 8.3% compound annual growth rate worldwide between 2021 and 2026, per Boston Consulting Group.
- POS infrastructure providers are scrambling to align their offerings
- mPOS providers are trying to balance demands from upmarket sellers and micromerchants
- Payment gateways must double down on omnichannel to woo customers
As the landscape of market leaders shifts, we forecast that the US point-of-sale (POS) terminal installed base will grow from 17.3 million this year to 20.2 million in 2026, largely due to providers upgrading technology.
- While most retail sales still occur in-store, digital is driving innovation as ecommerce grows.
- Domestic P2P and digital remittance providers will diversify to lure users and monetize solutions.
- Digitization is dominating B2B and disbursement innovation.
Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority despite the ever-changing post-pandemic landscape.