Payment acceptance and acquiring has become more complex. A new competitive landscape is being shaped by the arrival of new players, new technologies and changing consumer behaviour and preferences for alternative payment methods (APMs), such as digital wallets, local cards and cryptocurrencies.
Payment Service Providers (PSPs), such as Adyen and Stripe, introduce a single point of integration, ushering in an age of no-code payments. Payment orchestration platforms (POPs) are helping merchants to optimise transaction flows and conversion rates.
At the same time, payment service providers are modernising their business models. They are offering white labelling. This is a stepping stone towards embedded finance, which has huge potential to improve customer experiences. Service providers are going beyond acceptance, with new offers such as pay-outs and disbursements, tax payments, subscription management, payment links and billing.
Large bank-owned legacy acquirers are looking at ways to compete with the new entrants. One approach is to develop propositions that go beyond payment acceptance but include in-house issuing capabilities or wider commercial banking propositions.
In the physical world, automated teller machines (ATMs) remain popular, and the payment terminal is evolving. The point-of-sale device in the future will be a smart software-first design that will support innovative use cases beyond payments, such as loyalty cards.
EDC works with leading payment service providers, acquirers, automated teller machine (ATM) operators and point-of-sale device manufacturers.
We bring unrivalled global payments knowledge to help you develop new payments products and validate your business cases. We support growth, expansion and market entry strategies.
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.
“Gone are the days where the only option for a merchant to accept payments was to connect to an acquirer. The payments acceptance landscape is evolving and complex with new types of stakeholders entering the space. We help companies navigate the evolving industry, offer creative solutions that companies across the payments value chain implement and support executing winning strategies.”
“Digital disruption, is challenging many different plays in the financial services industry, at EDC we are advising our financial services clients to open the door to new opportunities driven by innovation.”
Leading financial services provider that enables local and cross-border payments
Our client was undertaking a comprehensive review of the existing portfolio of business initiatives and a corporate strategy exercise to define the company’s long-term growth trajectory.
How can EDC optimize your payment acceptance?