Capgemini : New payments technologies to challenge the status quo
Capgemini : New payments technologies to challenge the status quo
Capgemini ’ s Jeroen Hölscher runs through some up-and-coming payment technologies that could challenge today ’ s status quo .
He tells us : “ Innovations in paytech are generating exciting alternatives that might pose a challenge to established market players . “ In the realm of retail payments , notable innovations include the trajectory of Account-to-Account ( A2A ) payments , which , by avoiding card network intermediation and associated fees , offer directness , immediacy , and cost-effectiveness .
“ Another rising trend is the popularity of Buy Now / Pay Later ( BNPL ), a form of short-term credit that has witnessed significant growth , particularly among the younger generation , with a projected 25.5 % CAGR from 2019 to 2026F according to a GlobalData report .
“ The Pay by Bank model ( based on A2A payments ) is gaining strong traction due to its convenience and low costs , powered by expanding instant payment infrastructure globally .”
fintechmagazine . com 87