Changing customer needs, the liberalization of regulations, and the related digitalization of the payment market are having an ever greater effect, as seen in the proportional increase in the use of mobile payment methods. This being the case, it is expected that the global customer base will have increased by ~51%, and the volume of transactions by ~85% by the end of 2020.

Continue

Less than a month after the announcement at the Apple Worldwide Developer Conference (WWDC), Apple Pay went live on the Swiss market on July 7, 2016. Up until then, there had been no sign of the revolution at Swiss NFC terminals predicted by Apple, which was mainly due to the fact that only three card issuers – Cornèr Bank, Swiss Bankers, and Bonuscard – support Apple Pay. Major players such as Credit Suisse, PostFinance, Raiffeisen, UBS and ZKB – who, between them, account for the majority of the Swiss payment card market – are not currently taking part in the Apple Pay program.

Continue

Technological progress and regulatory requirements are major drivers of change in the financial sector in general, and in the payment transactions market in particular. Together, they are leading to a break with the proprietary payment infrastructures established by the banking industry, and therefore driving the increasing liberalization of the European and international payment transactions market.

Continue

The virtual payment market is in a state of flux due to the increasing importance of e-Commerce and contactless payments at the point of sale. This results from the increasing prevalence of NFC-enabled terminals and the simultaneous provision of mobile payment solutions (wallets) by technology providers. Along the conventional processing structure comprising schemes and issuers, a third kind of player is establishing itself: technology providers such as Apple, Samsung and Google are joining forces with international credit card companies to successfully provide end consumers with mobile payment solutions on their devices, and are, therefore, gaining even more ground on global markets.

Continue

Since October 2014, payment service Apple Pay can be used in combination with credit and debit cards of a partner bank in the USA. Additional markets, such as the UK, Canada and Australia successively followed. Following market entry in China during February 2016, the payment service has now been successfully established in five countries. The fact that during market launch in China, more than 40 million cards were activated within the first 48 hours is one indication of its increasing relevance. This quick adaptation rate indicates great potential. It is therefore safe to assume that the trend towards digital payment will continue.

Continue