The COVID-19 pandemic is expected to have a low impact on the global payment revenue by around 7-8% in 2020. With reduced cash transactions and physical contact due to social distancing norms, the pandemic has been a black swan event in online payments adoption.
Expleo and IBS Intelligence have collaborated on a whitepaper that highlights the key drivers enabling digitization in payment platforms from the following perspectives – customers, technology & regulatory. This collaborative whitepaper aims to highlight the typical components of an online payments ecosystem and some of the interesting industry examples of online payment platform implementation.
The whitepaper also talks about some of the typical challenges faced by financial institutions and payment providers, such as reducing the cost of payments, challenges related to customer engagement & loyalty, fraud management and enhancing data security. Further, and most importantly, how are financial institutions overcoming these challenges?
For more insights on the Digital Payments Materialization and beyond, download the whitepaper now: