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Stay competitive in a contested payments market

Why payments matters

$3.6tn

The combined revenue that consumer and commercial payments providers are forecast to earn by 2028

55%

of payments incumbents say they are losing share of wallet—and the associated revenue—to bigtech and fintech competitors

59%

of banks say their legacy technology stack constrains them from innovating, which contributes to the lack of real-time commercial payments options

55%

of consumers expect all payments will be real time by 2025

Innovate to compete in a rapidly transforming landscape

Compete in a crowded market with a well-defined payments strategy. Make targeted investments and partnership decisions to grow revenue streams and reduce costs.

What you can do

Banks, payments specialists and multi-industry payments players all need a decisive strategy that builds on their traditional strengths while investing in innovation and agility.

To meet customer expectations and comply with new standards, a strong digital core is critical. Cloud, AI, data and automation go a long way to strengthening the core, which enables efficient technology, revenue growth, adaptability and security.

30%

of banks have adopted high levels of automation and AI in their commercial payments divisions

Consumer and corporate demand for next-generation payments propositions—such as BNPL, digital wallets and digital currencies—is spurring providers to offer flexible payment methods and better experiences both online and in-store.

Cost reduction is rising in importance for banks and payments providers with lower revenues and non-optimized payments capabilities. Banks can unlock the power of data-driven operations through process transformation and intelligent automation.

Integrated ecosystems created by Open Banking allow banks and payments providers to participate in new value chains, providing end-to-end solutions for customers’ key life moments.

65%

of banks cited the development of industry-specific Open Banking solutions as a top driver for investing in the modernization of their legacy payments infrastructure

Payments data unlocks real-time insights for clients and is the foundation for pursuing new possibilities with AI. Explore data enrichment strategies to convert payments data into relevant and timely insights your clients are prepared to pay for.

The revenue potential of commercial payments is constrained by legacy technology and fintech threats in areas like merchant services and cash management. Banks can defend their share and grow revenue with industry-tailored value-added solutions.

$371B

estimated opportunity by 2028 for commercial payments providers who offer value-added services to their clients

Partner with other banks, fintechs and bigtechs to scale quickly and create next-generation payments solutions that retain existing clients, bring value to all parties and create new revenue streams.

70%

of banks said they would develop gen AI solutions in partnership with other banks

What you’ll achieve

Future-proof payments

Core infrastructure must enable efficient compliance, innovation and differentiated experiences that meet customer expectations.

Third-party integration

Embedding payments within the purchase experience is a key feature of online commerce. To meet merchants’ requirements, providers must integrate effectively with their systems.

Capturing growth

The digital payments market, estimated at $81bn, is forecast to grow 21% yearly to 2030. To claim their share banks must review their operations, experiences and partner ecosystem.

Increasing customer intimacy and value

By using data and AI to tailor services, banks and other payments providers can make customers feel more valued, boost loyalty and share of wallet and raise their lifetime value.

Reimagined payments operations

Cloud, data, analytics and AI can enable providers to transform and automate their processes, drive growth and competitiveness—and sustainably cut costs by 30–50%.