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IDC FutureScape: Worldwide Payment Strategies 2020 Predictions

IDC FutureScape: Worldwide Payment Strategies 2020 Predictions

This IDC study provides IDC's top 10 predictions for payment strategies for 2020 and beyond.According to Rivka Gewirtz Little, research director, Worldwide Payment Strategies, "Payment modernization goes beyond speed and will be defined by collaborative ecosystems, enabling automated, data-driven intelligent payments that lie central to digital transformation efforts and will change the way retailers and corporates across verticals do business."

Please Note: Extended description available upon request.


IDC FutureScape Figure
Executive Summary
IDC FutureScape Predictions
Summary of External Drivers
Predictions: Impact on Technology Buyers
Prediction 1: By 2023, 30% of Corporate Payments Will Be Originated by Fintechs, Connecting to Banks via Open APIs and Running on Real-Time Schemes; Corporate Payments Will Drive New Open Banking Models
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 2: By 2023, More than a Dozen Nations Will Begin Issuing a Digital Currency Using Blockchain Technologies to Promote Economic Stability and Encourage Financial Inclusion
Associated Drivers
IT Impact
Guidance
Prediction 3: By 2023, 75% of G2000 Companies Will Have Added e-Invoicing Capabilities as Driven by Government Mandates; e-Invoicing Will Be Better Enabled by Real-Time Payment Scheme Features
Associated Drivers
IT Impact
Guidance
Prediction 4: By 2024, 60% of In-Store and Online Merchants Will Accept Multiple Noncard Retail Payments Operationalized by Direct-from-Bank Schemes and eWallets, Forcing Change in Traditional Card Models
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2025, 40% of Cross-Border eCommerce B2C Sellers Will Adopt a Merchant-of-Record Model Enabled by Global Networks of Localized Payment Acceptance Methods
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2025, 40% of Businesses Will Rely on Digital B2B Payment Providers to Optimize for Speed, Reduced Terms, Financing, and Cross-Border Access
Associated Drivers
IT Impact
Guidance
Prediction 7: By 2023, 30% of Merchants Will Employ Subscription- or Consumption-Based Models, Enabled by IoT and Automated, Contactless Payments
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2020, 80% of Mobile Payments Will Be Handled by Tech Platform Giants as Transactions Are Integrated into a Wider Commerce Experience
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 9: By 2022, 20% of Banks Will Have Retail Partnerships That Will Provide Consumers with Microlending Solutions at the Point of Sale
Associated Drivers
IT Impact
Guidance
Prediction 10: By 2020, 40% of Payment Service Providers Will Offer Integrated Fraud Services, Making Fraud Coverage a Central Element of the Integrated Payment
Associated Drivers
IT Impact
Business Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
Rising Customer Expectations: More Convenience, Customization, and Control
Description
Context
The Age of Innovation: Driving the Future Enterprise
Description
Context
The Platform Economy: Competing at Hyperscale
Description
Context
Accelerated Disruption: Navigating Business Challenges as Volatility Intensifies
Description
Context
Intelligence Everywhere: AI's Opportunity and Implications
Description
Context
Crisis of Digital Trust: Escalating Threats Mandate Strategic Responses
Description
Context
The Future of Work: Agile, Augmented, Borderless, and Reconfigurable
Description
Context
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