New Report Projects Large Investments in Payments

ACI Worldwide, together with research firm Ovum, has just released the results from its 2016 Global Payments Insight Survey, a study on the role of payments within the merchant and retail environment. With data collected from 1,600 bank, retailer, and billing organization executives, the study conveys compelling insights into payments’ rapidly changing paradigm. The report finds that the majority of industry stakeholders are investing in payments technology.

Key Highlights Include:

• 52% of transaction banks, 50% of retail banks and 54% of merchants expect to invest more in their payment systems over the next 1.5-2 years.
• 70% of retail banks have already delivered replacement or upgraded card management systems, or are in the process of doing so.
• A majority of transaction banks report initiating or preparing blockchain/distributed ledger pilot programs, but 37% say that regularity uncertainty is a “hindering factor” in adopting use of the technology.
• 73% of total respondents cited the driving force behind investment as competitive pressure, with security considerations coming in as a close second at 72%. Customer protection requirements and improving infrastructure fell not far behind at 70% and 69%.

The full ACI Worldwide report is available here.