According to CapGemini’s recent report on the global payments industry, technology, demographics and regulatory dynamics are shaping the requirements. The client front-end keeps evolving to achieve a higher degree of user experience through innovation, however back-end operations need a further enhancement as well. Digital payments, APIs, cross-border payments and alternative service providers are shaking up the market.
These trends are positively impacting on competition, innovation and system-related efficiencies. New players along with PSD II initiatives and open banking aim to “open up the market to third-party providers” leading to implement fool-proof systems for security protection.
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