Payments professionals face a world that has a plethora of choices but a lack of guidance from regulators, payment schemes, and technology providers on how to move forward. The technical aspects of payments are designed, but the consumer experience and how to build adoption can be forgotten in the race to meet industry delivery dates. The Federal Reserve is building FedNow to support a gross settlement payment scheme. The rest of the industry needs to build the actual scheme.
What is becoming clear is that the experience trumps the payment platform and consumers have choices. The experience needs to become a primary component of any product strategy. Just because a payment method is built, it does not mean consumers will come.
Interested In This Report
The buy now, pay later industry—widely known as BNPL—has become so popular and competitive that Javelin Strategy & Research is rolling out its first scorecard of the major players ...
The annual payment trends report will highlight the top three business drivers for change in 2023.
Buy-now, pay-later (BNPL) products—largely pioneered by fintechs—have proved enormously popular with consumers and have drawn the interest of credit card networks and traditional f...