The global payments industry is undergoing profound changes and presents a $100 trillion opportunity for emerging players and incumbents alike, according to some estimates. Upstarts are vying with established brands for a slice of retail payments, cross border transactions, peer-to-peer services, and of course e-commerce.
Some are even embarking on so-called “Teen” and “Student” payments solutions allowing sponsors to pay their dependents digitally, deploying set limits on payment platforms and bypassing the need for bank accounts.
Here’s a 60-second insight video from ReachX on the global market dynamic:
In the last four years, over $130 billion has been pumped into fintech investment, led by Blockchain companies, and conducive frameworks such as Europe's PSD2 have encouraged open systems. Many challenger players like FairFX (LON:FFX) and SafeCharge (LON:SCH) are publicly-listed offering equity investors a slice of the projected boom. However, caution is merited, as a fiercely competitive sector is likely to see some players bite the dust.
Further reading:
e-Banking to profits: Why FairFX could be heading for fair weather
SafeCharge: The good, the bad and the ugly of payment services
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