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The rise of alternative payments – and its impact on the card business
From virtual mobile wallets to peer-to-peer money transfer apps, there are an increasingly diverse number of ways to pay, beyond the old medium of cash. And the geographic scope of such alternatives stretches from contactless mobile for buying coffee in a US Starbucks or movie tickets in Indonesia, to blockchain-based currency transfers in Africa. The [...]
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When the alternative goes mainstream…
When bank-account funded payments, real-time payments, mobile and other digital payments are actually the default way to pay in many countries, the term ‘alternative’ seems a misnomer. We examine current and future trends in how the world chooses to pay and be paid, and the implications for customer value propositions and legacy infrastructure. Payment habits [...]
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2016 North America consumer digital payments survey
The Accenture 2016 North America Consumer Digital Payments Survey – is based on a survey of more than 4,000 smartphone users in the United States and Canada, and is the most recent report in Accenture’s multi-year research on consumer attitudes about how they want to pay now and in the future. 60% of consumers in North [...]
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Alternative payments – Three unrecognised truths for merchants
As the European eCommerce market continues its meteoric rise, we spend an increasing proportion of our time looking at how to accommodate the diverse alternative payments preferences of European consumers. Our merchant clients raise questions like: “How do German consumers pay online, which payment types should I accept in The Netherlands, and can Italians use [...]
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Alternative payments impact South Africa’s payments market
Alternative payments are gaining traction in South Africa, with banks and payment companies introducing new solutions. Recent initiatives include the launch of MasterPass, Zapper, FlickPay and SnapScan. The MasterPass digital wallet was introduced in association with Standard Bank in July 2014. Users can shop online without disclosing payment and shipping information with every purchase. Zapper, [...]
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