1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
  5. > Payments in the Digital Future (Technical Insights)

Payments in the Digital Future (Technical Insights)

  • March 2014
  • -
  • Frost & Sullivan
  • -
  • 66 pages

The recent advancements in information and communication technology space have facilitated financial transactions to be done digitally. The digital payment solutions deliver convenient, fast, and secure payments by ruling out the complexity, risk, and processing time of manual payments that use payment instruments, such as, cash, and cheque. This research service focuses on various technology approaches, innovations, and convergences with futuristic technologies toward development of digital payment solutions of the future.

Key Findings

The complexity, inconvenience, and lack of security of manual payment processes have led to the development of various digital payment solutions by leveraging leading edge technologies in the information and communication domain. The main focus for the development of digital payment solutions has been on ruling out the limitations of traditional manual payment solutions that use cash and cheque.

Digital payment solutions enable users to adopt a wide range of payment options to carry out secure financial transactions in real time. These solutions have ruled out the limitations of payment processing delay, cost of processing, and human errors, which prevailed in the traditional manual transaction methods.

The innovations in the digital payments space have been made by leveraging combinations of a wide range of technologies, such as, near field communication (NFC), Bluetooth low energy (BLE), facial recognition, and so on. These innovations have been beneficial in a variety of applications, facilitating effortless, cashless, fast, and convenient payments.

The major focus of the innovators developing digital payment solutions has been on delivering security, convenience, and speed. This has driven solution providers to develop touchless payment solutions backed by advanced encryption techniques to ensure optimum security for protecting the financial details of the users. The level of convenience of these solutions has progressed to the extent of enabling fast payments without the need to employ cards or mobile phones.

Table Of Contents

Payments in the Digital Future (Technical Insights)
Table of Contents

Executive Summary 4
Research Scope 5
Research Methodology 6
Key Findings 7
Technology Overview 9
What Can Digital Payment Technology Offer? 10
Key Benefits 11
Overcoming Key Challenges 12
The Technology Driving Force: Drivers and Funding Trends 13
Digital Payment Technology Value Chain 14
Digital Payment Backbone: Enabling Technologies and Approaches 16
Technologies Enabling Digital Payments 17
Digital Payments: Innovations and Demand Side Analysis 26
Innovative Approaches 27
Demand Side Analysis—Capturing the Voice of the Customer: Kano
Evaluation 31
The Future of Digital Payments 39
Scenario Modeling 40
Potential Application Areas 43
Technology Roadmap 44
Analyst Insights 49
Key Patents 51
Key Contacts and Appendix 55
The Frost and Sullivan Story 62

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Mobile Money Market by Transaction Mode, Nature of Payment, Location, Type of Purchase, Industry & Region - Global Forecast to 2021

Mobile Money Market by Transaction Mode, Nature of Payment, Location, Type of Purchase, Industry & Region - Global Forecast to 2021

  • $ 7 150
  • Industry report
  • July 2016
  • by MarketsandMarkets

“Indispensable requirement to have ubiquitous access to financial solutions is driving the mobile money market” The mobile money market size is estimated to grow from USD 21.15 billion in 2016 to USD ...

Asia-Pacific Mobile Payments

Asia-Pacific Mobile Payments

  • $ 4 950
  • Industry report
  • September 2016
  • by Frost & Sullivan

Spearheading Cashless Societies Countries within Asia-Pacific are trying to go cashless; mobile payment has been identified as an ideal solution to spearhead the transformation from cash-based to cashless ...

Global Mobile Payment Security Software Market - Forecasts and Trends (2015-2020)

Global Mobile Payment Security Software Market - Forecasts and Trends (2015-2020)

  • $ 4 250
  • Industry report
  • August 2016
  • by Mordor Intelligence LLP

Mobile devices have transformed business and lifestyle in the field of communication and now possibly the way financial transactions of all types are made through it. Consumers are fast adopting the use ...


Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.