We begin by offering a comprehensive market outlook, and then we take deep dives into four subsectors: acquirers, issuers, wholesale transaction banks, and payments infrastructure providers. BCG’s 21st annual Global Payments Report looks at the opportunities and challenges facing this diverse industry. Change is exciting, but it’s also disruptive. This is a moment of truth for the industry. ![]() Payments leaders can fight this trend and resume their strong historical growth by doing things differently-innovation avenues are numerous, and customer appetite for the industry’s solutions remains robust-but they will need to take decisive action now to do so. Revenue growth is expected to slow over the next five years. Looking ahead, however, the operating environment is likely to become more difficult, as valuations have dramatically declined over the past two years and the macroenvironment has become more turbulent. These developments have propelled strong revenue growth and attracted more than 5,000 fintechs into the payments space. Payments have become more accessible, with innovations such as digital wallets, QR codes, and mobile money accelerating financial inclusion in developing economies. Journeys have expanded from transactions to an integrated array of solutions and value-added services. The payments industry has come a long way over the past decade-and in myriad directions! Consumers and companies have shifted from cash to a burgeoning array of electronic payments. Technology, Media, and Telecommunications.
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