1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
  5. > 2016: Key Trends in Consumer Payments

2016: Key Trends in Consumer Payments

  • February 2016
  • -
  • GlobalData
  • -
  • 27 pages

Summary

Table of Contents

Search Inside

Summary
The increased levels of innovation and interconnectivity in banking and payments have resulted in an ever-expanding range of transactional possibilities, and are notably triggering a rewiring of the entire commerce experience. Several trends will drive developments in consumer payments in 2016, including increased competition in the mobile wallets space, the rise of social commerce, and the issuance of more explicit rules and guidelines for online and mobile payment security. Payment providers will have to react by enhancing their propositions, keeping abreast of new standards, and exploring the opportunities social commerce presents.

Key Findings
- Strong emphasis will be placed on positioning mobile wallets as a mainstream alternative to cash and cards, with building merchant acceptance levels a top priority in the near term. Registration incentives, and usage rewards will be commonly used tactics to drive consumer uptake within the space.

- Regulators and industry standard-setting bodies will issue more explicit rules and guidelines for online and mobile payment security. The sharing of cyber security threat data between the government and businesses will form a crucial part of fraud prevention strategies going forward.

- Social media commerce will evolve from a concept to a reality over the next few years. 2016 will be a critical turning point for the space as it goes through the 'proof-of-concept' stage. Social media providers will ramp up their efforts to host a more streamlined and targeted shopping experience for both online and real world transactions.

Synopsis
2016: Key Trends in Consumer Payments informs key stakeholders across the payments ecosystem of the main developments emerging across the industry and how best to respond to these changes. Specifically the report examines developments across a number of areas from regulation, to product and service trends, and infrastructure development. It crucially draws on our 2015 Consumer Payments Insight Survey to provide fact-led insight, and reviews key developments tracked in our Consumer Payments Competitor Tracker.

Reasons To Buy
- Identify the most important trends that will affect consumer payments in 2016.

- Assess the impact of competitive, consumer, and technological developments on the consumer payments industry.

- Consider what actions need to be undertaken to exploit these trends and stay ahead of competitors.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • February 2017
  • by Transparency Market Research

Global Mobile Payment Technologies Market: Overview This report provides an analysis of the global mobile payment technologies market for the period from 2014 to 2024, wherein the period from 2016 to 2024 ...

Top 10 Telecom Technologies - Forecast to 2021

Top 10 Telecom Technologies - Forecast to 2021

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

“Reduction in queuing & transaction time and increased convenience in making low value payments are driving the contactless payment market” The contactless payment market is estimated to grow from ...

Global Market Study on Mobile Payment Transaction: Booming E-Commerce Industry Primary Factor Boosting Market Growth

Global Market Study on Mobile Payment Transaction: Booming E-Commerce Industry Primary Factor Boosting Market Growth

  • $ 4900
  • Industry report
  • December 2016
  • by Persistence Market Research

This Persistence Market Research report examines the Global mobile payment transaction market for the period 2015- 2020. The primary objective is to offer updates on the advancement in mobile applications ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

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