Singapore

Details

  • Service: Advisory
  • Industry: Financial Services, Banking
  • Type: Business and industry issue
  • Date: 6/11/2012

The Great Payments Transformation: Insights into the payments ecosystem 

While many in the financial services industry may have historically viewed payments as being somewhat boring, nothing could be further from the truth. In fact, given the rapid pace of change, innovation and growth now underway in the sector, it seems increasingly clear that payments is actually one of the most exciting – and potentially valuable – parts of our current financial system.
The Great Payments Transformation: Insights into the payments ecosystem
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Amidst all of this disruptive change, one development in particular – while somewhat slower to play out – will change the very dynamics of the sector: the shift East. The facts are undeniable: in 2010 alone, Asia’s share of global payment transaction volumes on general purchasing cards increased from 26 percent to 31 percent. By 2015, Asia’s purchasing volume is expected to be double that of the United States’.