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Future Payments

Athena @ ST 15 August 2017


Our robot, Athena, finds that the global value of mobile and wearable contactless payments will reach $95 billion annually by 2018, and that by 2020, mobile payments will become the preferred method for both consumers and merchants. The payments market could be disrupted by then with too many players, too many laggards and growing cyber-security and privacy issues.
What is changing?

Implications

​​Questions

Trend
Leading forecasts suggest a very rapid rollout of new payment systems, similar to the rush when the Apple iPad appeared and the consequent saturation of the market in just a couple of years.


Sentiment analysis
Sentiment about payments has been mixed in the last six months with concerns about cyber security and privacy mostly offsetting the major positives of instant payment, and the elimination of queuing.


 

Metrics

Athena thinks that the tipping point for global, contactless payment acceptance will be around 2025. In the meantime, players are innovating with their payment mechanisms and seeking major alliances to grow very rapidly.

Regions affected: The World
Most affected sectors: All

Topic map
We recommend you further explore the topics forecasts below at Shaping Tomorrow to gain further foresight on how Asia may impact your organization in the future.


Heat map
Digital payments are most likely to be the norm in the U.S, India, China, Australia, the UK and the Baltics first. But expect the rest of the world to catch up fast as global organizations seek to improve their payment processes and to dominate the markets.


Graphit
Consumer payment processing will be mostly handled by phones shortly especially as authorized payment limits increase.  Providers will be seeking to minimize payment process to near-instant delivery regardless of location. Governments and e-commerce organizations will increasingly move to digital payments, seriously decreasing cash use and handling.

Pundits and experts are forecasting a FinTech crisis in 2020 originating from a combination of too many players chasing the same markets, laggard banks being in decline, cyber security, Bitcoin and privacy issues that threaten the entire system.
We recommend you explore these in more detail at Shaping Tomorrow to mitigate threats to your organization and to seize upcoming opportunities.

Forecast:
Insight:

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