This report reflects on the key retail payments issues which kept Celent analysts busy in 2015 and that Celent believes are set to shape the industry in 2016.
The report, Top Trends in Retail Payments: 2016 Edition, is the sixth edition of Celent’s annual payments trends review. This particular report focuses on trends in retail payments. This year, it addresses five major themes that we believe are shaping retail payments right now.
- The “Pays,” HCE, and contextual payments drive adoption of mobile payments.
- Focus on security remains relentless (EMV, tokenisation, 3DS 2.0, identity, and authentication).
- Bank APIs will have far-reaching implications for payments.
- Fintech still attracted to payments, but are increasingly looking to partner with banks.
- Transaction data: the Holy Grail powering innovation in commerce.
“In 2015, digital payments remained high on the industry’s agenda, and we expect they will continue to dominate it in 2016,” says Zilvinas Bareisis, senior analyst with Celent’s Banking Group and author of the report. “We are starting to see how digital experience for consumers can be orchestrated across multiple companies, such as Facebook Messenger and Uber. Banks must think how they can weave banking and payments services into the customers’ digital fabric without compromising on security.”
There is no doubt that the payments industry is more dynamic and exciting than ever. The aim of this report is to help Celent clients navigate the changes by highlighting critical developments in today’s retail payments landscape.
This 26-page report contains 12 figures and two tables.
