Video: Emerging Trends in the Payments Industry

The payments space is already shaping up to be one of the hottest segments in any industry  

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Emerging Trends in the Payments Industry, Part One

Jun 27, 2017

Video: Emerging Trends in the Payments Industry

The payments space is already shaping up to be one of the hottest segments in any industry  throughout 2016. And with that kind of buzz comes questions and projections. From mergers, acquisitions and partnerships to new and innovative product ideas and solutions, payments professionals want to know what’s coming and what they need to do to be prepared. As always, TSYS® would like to help. 

Industry Regulation

One of the themes we expect to remain important throughout the rest of the year is regulation, which affects the industry in a variety of ways. TSYS experts will continue to monitor and analyze existing and upcoming regulations to ensure clients have the knowledge they need to make business decisions and meet their customers’ needs within the changing regulatory landscape. Of course, regulation will always be a key issue for those of us in payments, but we expect it to play a major role this year. 

End-to-End Customer Experience

We see the focus moving from the payment transaction to a broader end-to-end customer experience. It’s important to think about the entire journey customers take – from the point of deciding whether to buy an item and how to pay, throughout the entire purchasing process. Understanding the complete customer engagement experience from start to finish will be crucial in anticipating and meeting their needs. 

Instantaneous Everything

“Instantaneous everything” refers to the expectation that we as consumers have to be able to ask for something and get it right away. Especially in the digital age, we’ve conditioned customers to expect and desire lightning fast responses to their wants and needs. Our challenge is to help them receive that instantaneous experience (even though some aspects of the transaction might be delayed behind the scenes). 

Look soon for part two in our Emerging Trends series, which will highlight other important topics – including EMV®, mobile payments and more.

Interested in learning more?