2017 Outlooks by leading research and consulting firm provide insights on new trends and opportunities in banking and payments
Boston, MA (PRWEB) December 19, 2016
Mercator Advisory Group has released its complimentary annual year-end series of “Outlooks” providing insights for the year ahead on trends and new themes that will have a significant impact on the payments and banking industries, consumers, and the ways companies do business in 2017 and beyond. The topics addressed in these Outlooks set the foundation for Mercator Advisory Group’s research agenda for the coming year and provide a framework for key points of engagement that Mercator Advisory Group will have with its clients in 2017.
The 2017 Outlooks are presented by each of Mercator Advisory Group’s Advisory Services — Debit, Credit (including Merchant Services), Prepaid, Customer Interaction, Commercial and Enterprise Payments, and Emerging Technologies — and can be downloaded without charge.
Download Mercator Advisory Group’s 2017 Payments and Banking Outlooks for free:
2017 Outlook Statements by Advisory Service:
“Fasten your seat belts—it’s going to be a bumpy year for debit and “pay now” payments. In 2016, the debit card and pay now market found itself managing through the unexpected consequences of a changing market. If anything can be predicted for 2017, it is more unpredictability. Some of the surprises stem from the interconnectedness of transactions, which is such that a change to one payment product reverberates across several. For those managing payments, contingency planning and the ability to deftly optimize market shifts will be key in the year ahead.” Sarah Grotta, Director, Debit Advisory Service
“Industry projections and predictions for U.S. consumer credit cards are offered in this 2017 Outlook. Credit cards continue to be the most profitable segment for retail banking, but margins are slipping due to changes in non-interest revenue. Volumes are up but the industry must pay attention to controllable and operational expenses to protect profits.” Brian Riley, Director, Credit Advisory Service
“The familiar landscape of merchant services is evolving. Every merchant makes significant investment in new services brought on by enhancements to their payments systems. Each year brings an expanding array of new vendor solutions for merchants’ consideration, and 2017 will be no different. Mercator Advisory Group’s 2017 Outlook for merchant services highlights some notable trends and issues that will have an impact on every merchant’s business in the upcoming year.” Raymond Pucci, Associate Director, Research Services
“Another year of regulatory uncertainty lies ahead. The election results will not solve the industry’s regulatory problems. The results of the 2016 U.S. elections have led many in the payments industry to think that their regulatory concerns are at an end, but a more likely consequence is that companies will need to deal with shifting regulations for at least the next two years.” Ben Jackson, Director, Prepaid Advisory Service
“Adapting to the public’s changing expectations of financial institutions will stabilize their course. The banks, credit unions, and other financial institutions that consumers rely on today to help navigate their daily financial lives will be expected by them to further modify the ways they conduct business and service delivery in 2017. By adopting greater flexibility and implementing financial technology (fintech), these organizations will secure and enhance their position.” Joseph Walent, Associate Director, Customer Interaction Advisory Service
“Innovation and improvements will continue. Increasing digitization, improved cash cycle management, better integration, and faster capabilities are all converging as we move into 2017, but risk management is a clear concern in commercial and enterprise payments.” Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service
“Three technologies need to be embraced immediately by the payments industry. They are tokenization, machine learning, and APIs. These three are important to consider when making any investment plans in specific strategic areas. Three more technologies will most likely affect the future of your organization but do not, broadly speaking, need immediate implementation unless your institution is ready to invest in them now. They are biometrics (eliminate passwords), mobile OS and blockchain.” Tim Sloane, VP, Payments Innovation, and Director, Emerging Technologies Advisory Service
Download Mercator Advisory Group’s 2016 Payments and Banking Outlooks for free:
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About Mercator Advisory Group:
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world’s largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.
For the original version on PRWeb visit: http://www.prweb.com/releases/2016/12/prweb13936246.htm