What Does the Future Hold for the Payments Industry?21st September 2020
The COVID-19 pandemic has had a substantial impact on the merchant community and has significantly affected the payments supply chain that merchants underpin.
Despite the obvious negative impact that pandemic-induced declines in retail spend have had on retailers, some suppliers have actually seen a positive impact and are benefiting significantly from changes to retail payment trends. We expect to see further changes to the entire current payments ecosystem, with potential outcomes including an acceleration of consolidation in every direction, and a holistic rethinking of industry regulations. Merchants, more so than ever, must ensure that their voices are heard, and that this emerging new, future of payments is set up in a fair and competitive way.