Payments 2020: Scenarios for dynamic evolution
The report examines the evolving global payments industry, focusing on potential scenarios for innovation and disruption by 2020.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | McKinsey & Company |
| Authors: | Dan Ewing, Kausik Rajgopal, Tariq Shaukat, Abhi Dhall |
| Time horizon: | 2020 |
| Geographic focus: | Global |
Methods
The research method involves analyzing industry trends, consumer behavior, technological advancements, and regulatory changes to project potential future scenarios for the payments industry by 2020.
(Generated with the help of GPT-4)
Key Insights
The report explores the dynamic changes in the global payments industry, driven by regulation, technology, consumer behavior, merchants, and competition. It discusses the potential for new payment mechanisms to redefine the landscape, considering forces like government regulation, consumer willingness to change, technology adoption, merchant innovations, and increasing competition. The report outlines four scenarios for the industry by 2020, ranging from incumbent-led innovation to a complete reconfiguration of the payments landscape with new entrants dominating. It also provides strategic implications for various industry players, including banks, mobile and online platforms, payment networks, and retailers.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2020 time horizon | 2020s time horizon | English publication language | Global geographic scope | competition | consumer behavior | financial inclusion | ict | m-payment | market disruption | merchant innovation | mobile payment | mobile payments | online payment | online payments | payments | prepaid card payment | regulation | scenarios | strategic partnerships | technology