Top Trends in Payments 2011: A Year In Review

by Zilvinas Bareisis, January 20, 2011
Industry Trends
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

This report reviews the “top 10” payments-related issues which kept Celent analysts busy in 2010 and are likely to shape the industry in 2011.

Every year Celent gathers its analysts across the globe to summarise the top trends in retail and corporate banking for the major geographies. This year, in addition to the regular Top Trends in Retail Banking and Top Trends in Corporate Banking reports, Celent decided to publish a separate report focused on the top trends in payments.

Over the course of the year, Celent analysts inevitably cover a broader range of topics and trends than they are able to address in their published reports. Some issues get discussed in the Celent Banking blog, and others in private conversations as part of the analyst access available to Celent’s clients.

In this report, Top Trends in Payments 2011: A Year In Review, Celent presents the top 10 payments-related issues that Celent analysts dealt with in 2010 and expect to see develop further in 2011. Some of the topics have been covered in more detail in other reports published by Celent throughout the year, but others are discussed by Celent for the first time.

“Payments industry had a busy 2010,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “The good news for customers is that payments innovation continued apace. 2011 promises to be a critical year, with some developments, such as the Dodd-Frank Act in the US, likely to have far-reaching consequences.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

3

Increased Competition Among the Card Schemes

5

The New Shape of "Alternative" Payment Methods

8

Real Acceleration Towards Mobile Contactless Payments in the Developed Markets

11

Mobile Banking Enjoys Steady Growth; Players Are Maturing

13

Changing Economics of Debit Cards

15

Remote Deposit Capture Goes Mainstream in the US

18

Mixed Success of the European Harmonisation Journey

20

B2B Solutions Are Opening Up and Moving Downstream

22

Cross-Currency International Payments Getting Easier

24

Payment Services Hubs: Getting Closer to the Vision

26

Leveraging Celent’s Expertise

28

 

Analyst Access

28

 

Support for Financial Institutions

28

 

Support for Vendors

28

Related Celent Research

30

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