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IDC FutureScape: Worldwide Payment Strategies 2016 Predictions - APEJ Implications

Published by IDC Product code 351000
Published Content info 24 Pages
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IDC FutureScape: Worldwide Payment Strategies 2016 Predictions - APEJ Implications
Published: January 18, 2016 Content info: 24 Pages
Description

This IDC study presents the top 10 predictions for Asia/Pacific payments based on insights from IDC's global practice. Each prediction is shaped by a common set of key drivers that provides a planning tool for technology leaders and their line-of-business counterparts to use in their IT strategic planning efforts."Asia/Pacific stays ahead in terms of payments transformation and spending, but following years of outspending other regions, there is a slowdown while other regions of the world catch up. Competition from new market entrants such as fintech start-ups and nonbank competitors, regulatory changes, more sophisticated security threats, and a myriad of other issues force banks to continue to invest in payments technology. For business leaders in the payment space, we're providing a look at not only where the industry will be moving but why. The intent is to provide some guidance on making strategic decisions," says Thomas Zink, research manager at IDC Financial Insights.

Table of Contents
Product Code: AP40587415

IDC FutureScape Figure

IDC Opinion

In This Study

Situation Overview

  • Summary of Key Drivers
  • IDC FutureScape Predictions
    • Prediction 1: Within the Next Year, Asia/Pacific Mobile Payments Will Approach US$500 Billion, the Majority of Which Will Be Online Purchases Through Mobile Devices
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 2: By 2018, At Least One Country Will Launch Nationwide Mobile Payment Schemes for POS, eCommerce, and ATM Transactions
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 3: In the Next Two Years, Investment by Asia/Pacific Financial Institutions Will Reach US$80 Million Annually on Software to Begin Transforming Internal Payment Technology
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 4: Only 11% of Asia/Pacific Corporations Have Access to Real-Time Cash Visibility; Banks Will Need to Invest Up to US$1 Billion Annually in Technology to Ease Bank-to-Enterprise Integration
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 5: 30% of Global Tier 1 Retailers Will Adopt Omni-Channel, Acquirer-Independent Payment Gateways by 2017
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 6: Lower Interchange Fees Will Drive Growth of Account-Based Payment Schemes
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 7: At Least One Country Will Overhaul Its Payment System Based on Technologies and Concepts Derived from Cryptocurrencies
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 8: Financial Institutions Will Increase Their Spend on Payment Security Software and Services by 18% Over the Next Two Years
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 9: Faster Settlement Efforts Will Continue to Be a Priority in Individual Markets, with Additional Markets - Including the United States - Putting Plans in Place in the Next Two Years
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance
    • Prediction 10: Asia/Pacific Technology Spend by Financial Institutions on Payments (Including Hardware, Software, and Services) Will See Only a Modest 2.0% Increase Next Year
      • Associated Drivers
      • IT Impact
        • Technology
        • Process
        • People
      • Guidance

Essential Guidance

Key Drivers

  • DX: Accelerating Business Disruption from Digital Transformation
  • Staying Relevant: New Entrants and Products Disrupting the Financial Industry
  • Legacy Modernization: Challenge to Modernize While Still Running the Bank
  • New Nature of Risk: Innovation Spawns New Thinking in Risk Management
  • Cy-Q: An Interconnected, Informed, Interactive, Intrusive, Intelligent, and Cognitive Ecosystem
  • Cloud Life: The Merging of Real Life with Digital Identity
  • Talent Quest: High Demand for Next-Generation Business/IT Skills, But Supply Is Scare

Learn More

  • Related Research
  • Synopsis
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