5 Trends Driving the Payments Revolution

In this article J.P. Morgan explores the factors driving the payments revolution and how treasurers can thrive in this exciting period of upheaval.


 

The scale and pace of change confronting corporate treasurers has arguably never been more extreme.

As disruption from technology, changing customer expectations and new market entrants upend traditional business models, corporate treasurers have a prime opportunity to elevate their role in the business. 

Driving this change is a “revolution” in payments. Once a pain point for businesses and consumers, the most innovative companies are putting the user experience at the heart of their business models and, in the process, making payments invisible. 

 

Invisible Payments

Invisible Payments

 

 

Adding voice assistants into cars and eliminating the friction of manually finding apps and providing payment information, connected drivers are 20-30% more likely to make in-vehicle purchases.1

Invisible payments unlock growth because they enable customers to more easily enjoy products and services.

By 2022, digital payments are expected to multiply eightfold to $78 billion in transactions annually.1

As expectations of seamless, frictionless payment and consumer experiences grow, businesses will have to change.

For instance, the car, that was a simple product sold or leased through dealers, is becoming a new revenue channel, one that can launch ride-sharing services, connect to digital marketplaces and commercialize its data.

As businesses embark on this journey, corporate treasurers have the chance to use the masses of fresh data generated by increased connectivity with customers to elevate their role in strategic decision making.

Here, J.P. Morgan delves into the disruption, exploring the factors driving the payments revolution and how treasurers can thrive in this exciting period of upheaval.

 

Factors driving the payments revolution






Rome wasn’t built in a day

The payments revolution is part of a business’ journey of transformation, and companies will adapt their models, perhaps several times along the way.

With this transformation, corporate treasury has an unique opportunity to help their businesses win in the new world order – whether it is proactively organizing for the digital economy to manage the data overflow, playing a central role in developing the connectivity to make payments invisible, or creating the organizational flexibility and agility required to turn international expansion plans into a success story.

As an industry leader who not only understands the challenges of making this journey but also actively invests in innovation and the capabilities to help treasurers and businesses win in this new world order, J.P. Morgan is committed to meeting your end-to-end needs, supporting you every step of the way.

 

 

 



To learn more, please contact your J.P. Morgan Treasury Services representative.

 


 

 

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