The payments sector is changing fast. Domestic payment systems are launching as an alternative to the established payment card brands. There is fresh competition for those card brands too from banking-as-a-service and payment-as-a-service providers.
The card brands must have a strong vision of how they will stay relevant as the market for plastic cards declines. The boundaries of their payment networks are being redrawn. Through acquisition, the payment networks are expanding into real-time payments, digital identity services and fraud prevention. The technical boundaries are changing, as the payment networks build global partnerships with fintech and other partners.
Issuers, networks, payments processors and merchant acquirers are investing heavily to replace or enhance their legacy payments systems. Real-time payments are commonplace in many countries now and buy-now-pay-later financing is changing the consumer lending market. Multifunction payment wallets, traditional payment cards and real-time payments will converge to create new opportunities for consumers and businesses.
In the face of all this upheaval, payment networks need deep insight into the latest developments and how to succeed in rapidly changing global markets, such as India. They need market intelligence to help them enter new markets.
At EDC, we have unrivalled global payments knowledge and experience, based on our work around the world and across the payments ecosystem.
We are trusted advisers to some of the world’s leading payment networks, including Mastercard, Visa, and American Express.
We have advised on network scheme rules and regulations, business-to-business payments strategy, go-to-market strategy, and the use of virtual cards.
We’ll work alongside you as you define your value proposition. We’ll collaborate with you throughout the development and launch phases, and ultimately help you to scale.
How can EDC help you to collaborate with the payment networks?