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Consumer Payments in the Age of Economic Change

Publisher IDC
Published Dec 14, 2022
Length 3 Pages
SKU # IDC17560477

Description

Consumer Payments in the Age of Economic Change

This IDC Perspective highlights how inflation and increasing interest rates have become factors in the global economy for the first time in the era of digital payments. Consumers are shifting their purchasing behavior and, by extension, their payment behavior to adapt. As a result, banks are being forced to respond in order to retain customers and revenue. Focusing on flexible payment product development platforms will help issuers become nimble and resilient.According to Aaron Press, research director, Worldwide Payment Strategies at IDC, "Economic changes are driving consumers to think differently about how they make payments. Banks much adapt their thinking, and their technology, to keep pace."

Please Note: Extended description available upon request.

Table of Contents

3 Pages
Executive Snapshot
Situation Overview
Inflation and Interest Rate Impacts
Technology to Adapt
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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