Top Trends in Retail Payments: 2017 Edition

by Zilvinas Bareisis, January 11, 2017
Industry Trends
Global

Abstract

Celent has released a new report titled Top Trends in Retail Payments: 2017 Edition. The report was written by Zilvinas Bareisis, a Senior Analyst with Celent’s Banking practice.

This is the seventh edition of Celent’s annual trends review in retail payments. This year’s report is written firmly with a busy executive in mind. It deals with a dozen of the most important industry topics, majority of which are covered in just a few paragraphs concentrating on key takeaways for senior executives.
 
The core topics are grouped into two major sections, Personal Payments and Commerce, and Payments Security and Regulation. The report also has an “And Finally … ” section, in which we briefly address two topics, open banking and blockchain, without which any discussion of top trends in 2017 would simply be not complete. The first five of these trends are also discussed in a lot more detail in a companion report published at the same time.

Personal Payments and Commerce chapter covers the following trends:

  1. Contextual Commerce: A Step Closer to Reality.
  2. Mobile Wallets: Don’t Write Them Off Yet.
  3. CurrentC Is Dead. Long Live Merchant Apps
  4. Is This the Year (the US) Banks Win in P2P?
  5. Using Transaction Data to Create Value for All Parties: V2.0.
  6. Aren’t We All Merchants Now?

Payments Security and Regulation covers the following trends:

  1. EMV Is Still an 800-Pound Gorilla in the US
  2. 3-D Secure 2.0: Will it Take Off in 2017?
  3. Frictionless Payments? Watch Out for the European Regulators 
  4. Get Ready for the European GDPR 
  5. “And Finally...” section includes: Open Banking: Will the Fog Clear in 2017? and Blockchain: Is It Really for Retail Payments?

“2016 was anything but predictable, although the year offered fewer surprises in payments. Many of the trends discussed in previous years are still just as relevant today. However, the developments never stop, and there are always new things to consider,” commented Bareisis.

“There is no doubt that the payments industry is still as dynamic and exciting as ever. We at Celent feel privileged to have a front seat in keeping track of these developments, and will strive to help clients navigate the changes,” he added.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Introduction

1

Personal Payments and Commerce

3

 

1. Contextual Commerce: A Step Closer to Reality

3

 

2. Mobile Wallets: Don’t Write Them Off Yet

3

 

3. CurrentC Is Dead. Long Live Merchant Apps!

4

 

4. Is This the Year (the US) Banks Win in P2P?

4

 

5. Using Transaction Data to Create Value for All Parties: V2.0

5

 

6. Aren’t We All Merchants Now?

5

Payments Security and Regulation

7

 

7. EMV Is Still an 800-Pound Gorilla in the US

7

 

8. 3-D Secure 2.0: Will It Take Off in 2017?

8

 

9. Frictionless Payments? Watch Out for the European Regulators

9

 

10. Get Ready for the European GDPR

11

And Finally …

12

 

11. Open Banking: Will the Fog Clear in 2017?

12

 

12. Blockchain: Is It Really for Retail Payments?

12

Leveraging Celent’s Expertise

14

 

Support for Financial Institutions

14

 

Support for Vendors

14

Related Celent Research

15

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