SFF 2021: Product Announcement by Episode Six

The Battle for US$250bn of Payments Revenues by 2030

The structure of the payments industry is fast evolving, radically transforming the roles of both FSIs and non-FSIs in the ownership of the payments process. IDC predicts that by 2030, 80% of consumer payments could be handled by non-FSIs*. This IDC InfoBrief looks at the forces driving these changes and how new payment technologies enable any business with a digital front door, not only banks and fintechs, to drive a redefinition of their position and value as well as to reimagine the customer experience.

Against the backdrop of soaring global digital payments volumes, regulatory moves around open banking, government real-time payments, centralized digital currencies, and national cashless schemes have shaken up incumbents, opening up traditional “safe” revenue streams and leveling the playing field.

All eyes are now on capturing the current and next wave of explosive growth in contactless and real-time payments. Opportunities for cooperation and coopetition abound, taking fintechs and nonbanks, or virtually any business with a digital front door, into the turf of banks. Next- generation payments technology offering real-time product customization at all usage levels and transfer of value across any asset classes is what will fuel the future dominant banks and fintechs.

Presented by Ravi Patel, Episode Six and Cyrus Daruwala, IDC (a Blackstone Group company)