Digital Payment Ecosystems Need Both Consumer and Business Adoption and Participation to Thrive, Say
New report helps regulators, FIs, and fintechs understand their roles within the evolving global digital payments ecosystem June 22, 2022 (BOSTON) — The global digital payments ecosystem continues to evolve as new and incumbent financial institutions (FIs), payment networks, central banks, governmental agencies, businesses, and other market players push for innovation. In Digital Payments Across the Globe: Key Use Cases and Their Impact on Global Payments—a new Impact Report sponsored by Visa—research and advisory firm Aite-Novarica Group focuses on five payment innovation projects with a local or global impact on the digital payments ecosystem. “Studying the broad global digital payment initiatives helps paint a picture of how the success of a payments project can depend on outside forces,” said David Shipper, Strategic Advisor at Aite-Novarica Group. “The use cases in this report represent how governments, regulators, businesses, FIs, legacy payment providers, new payment providers, and many others can successfully improve the global digital payments ecosystem. However, the ultimate success of an initiative relies on utilizing best practices, working with governmental agencies and regulators to ensure their cooperation, and keeping end users’ needs in mind.” About Aite-Novarica Group: Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.