DUBLIN, August 11, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "From Card-on-File to On-Demand Payments: New Payment Model and Strategies For Payment Providers" report to their offering.
From Card-on-File to On-Demand Payments: New Payment Model and Strategies For Payment Providers identifies how card-on-file solutions have been given a new lease on life and are now the primary consumer method for making payments via mobile devices.
The report describes several examples of third-party solutions in this model that enable consumers to better control and manage their payments. Examples are also given that show how card issuers have responded to on-demand payments in a tactical way but have so far failed to grasp the strategic implications of this model.
"Sometimes changes in technology and consumer adoption occur so slowly that both the nature of the change and the magnitude of the change are misjudged.", VP, Payments Innovation, and author of report. "On-demand payments may appear to be a simple extension to traditional card-on-file solutions, but nothing could be further from the truth.
On-demand payments are a significant shift in the way that consumers prefer to shop and buy and the way that merchants push the payment process into the background. With the issuer's brand almost invisible at the point of purchase, issuers need to identify new strategies to remain relevant to consumers."
Highlights of the report:
- Identification of industries once thought to be impervious to disruption that are now being radically reshaped due to smartphones and on-demand services
- Evidence that the on-demand payments model is the primary driver of the explosive growth in digital payments volume, further displacing cash and check transactions
- Explanation of the three trends that drive the growth for on-demand payments
- Examples of third-party services that have captured cardholders by providing services that enable the consumer to better manage on-demand payments
- Specific steps that issuers should take to move from the tactical efforts in place today to a strategic response required to remain relevant with cardholders in the long term
Key Topics Covered:
1. Executive Summary
3. Defining On-Demand Payments
4. Key Trends Responsible for the Growth of On-Demand Payments
- Trend 1: Consumers Want to Shop Where They Spend Most of Their Time-on Mobile
- Trend 2: Widespread Smartphone Adoption Has Made Possible New Business Models
- Trend 3: Thanks to API Revolution, Just About Anyone Can Accept Payments Online
5. Why Marketing Dollars Alone Won't Ensure Top-of-Wallet Status
6. Solving Consumer Pain points: Final and Trim
7. Conclusion: Rethinking Issuer On-Demand Payments Strategy
- American Express
- Capital One
- Personal Capital
For more information visit http://www.researchandmarkets.com/research/sg2gvf/from_cardonfile
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SOURCE Research and Markets