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
- Learn More
- Related Research
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