Member Exclusive, Payments

How customer experience is driving the new era of payments, in four charts

  • Increased demand for experience-led solutions rather than products is defining a new era in the payments industry
  • Customer behaviour is changing, driving financial institutions towards offering new lifestyle-embedded payment methods
close

Email a Friend

How customer experience is driving the new era of payments, in four charts

The post-pandemic payments industry is evolving to provide personalized financial solutions with a strong focus on customer experience (CX), according to Capgemini’s 2021 World Payments Report. Demand is rising for smooth integration of lifestyle-embedded payments, paving the way for Payments 4.X, a new era in the payments market.

“Growing consumer desire for convenient, lifestyle-embedded payments, together with retailer requirements for instant confirmation, smooth reconciliations, and seamless cross-border transactions, sparked Payments 4.X”, said the report. 

Capgemini identified four pillars of the Payments 4.X era: data, shared infrastructure, robust platform capabilities, and embedded finance. 

Financial providers can gain a competitive advantage by collaborating with payment companies and other partners in order to yield CX solutions that differentiate offerings for the new digital consumer. 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “How customer experience is driving the new era of payments, in four charts”

Outlier OpinionsMakers

Payments, Sponsored

Visa accelerates innovation of global money movement with new Visa Direct Preferred Partner program

  • Visa Direct solution providers can now access the right business tools, technical training, sales, and go-to-market resources to help build successful global money movement solutions.
  • With over 25 global partners enrolled in the program to date, the program has plans to expand to three additional countries in the coming months.
Visa | August 10, 2022
Member Exclusive, Payments

Payments Briefing: What do FIs need to know about payments in the metaverse?

  • This week, we look at how and why traditional FIs and fintechs should be thinking about payments in the metaverse.
  • We also discuss why card giants like Mastercard, Visa, and Amex are getting involved in sonic branding.
Ismail Umar | August 04, 2022
Payments, Power of Payments Podcast

Power of Payments Ep. 11: ‘There’s a lot of heart in our business when you really understand our customers’ – Remitly’s Matt Oppenheimer

  • Matt Oppenheimer, co-founder and CEO of Remitly, joins host Ismail Umar on this week’s podcast.
  • He talks about the evolution of the remittance industry over the last decade, the changing needs of Remitly's customers, the potential role of crypto in remittances, and the future of global money movement.
Ismail Umar | August 01, 2022
Payments

Marqeta’s Vidya Peters on the evolution of consumer behavior and payment trends

  • What is Marqeta doing differently in payments?
  • Consumer behavior underwent lasting changes during the pandemic -- how can the tech behind digital transactions keep pace?
Sara Khairi | July 18, 2022
Payments, Podcasts, Power of Payments Podcast

Power of Payments Ep. 10: Digital payments and overspending, Revolut Reader, mobile wallets vs physical wallets, and more

  • This week, we discuss how digital payments make it easier for young consumers to overspend, and how the global microchip shortage is impacting the payments industry.
  • We also talk about Revolut's first venture into in-store payments, as well as the growing level of consumer trust in mobile wallets.
Ismail Umar | July 15, 2022
More Articles