Merchant Acquiring: Full Speed Ahead Into the Mobile Payments Era
Report Summary
Merchant Acquiring: Full Speed Ahead Into the Mobile Payments Era
Merchant acquirers that are preparing to invest heavily in their businesses are leading the payments industry’s transformation toward mobile payments.
Boston, July 30, 2012 – A new report from Aite Group evaluates the current merchant acquiring environment against the backdrop of burgeoning mobile payments. Based on an Aite Group survey of 25 merchant acquiring executives, completed in partnership with the Electronic Transactions Association (ETA) between May and July 2012, the report identifies key industry challenges and discusses acquirer approaches to managing those challenges.
Mobile and cloud technologies are driving a migration to new payments form factors and new shopping and selling approaches that threaten to completely redefine the point of sale, destabilizing legacy payments-acceptance technologies that are the foundation of today’s merchant acquiring revenue streams. Despite obstacles related to rapidly evolving technologies, new fraud threats, and acquirers’ need to support longstanding partners in the midst of an industry revolution, merchant acquirers are preparing to invest heavily in their businesses, leading the industry toward a mobile payments era. Merchant acquirers at the forefront of innovation will stand out and achieve rapid success.
“In the face of great change, merchant acquirers are preparing to rise to the occasion, leading the transformation toward a mobile- and cloud-based payments environment,” says Rick Oglesby, senior analyst with Aite Group and author of this report. “This group, extremely focused on the key technology challenges associated with a migration to mobile payments, has already begun to ramp up expenditures on platform upgrades."
The report references Amazon, Apple, First Data, Google, Heartland Payments, Intuit, Isis, Merchant Warehouse, PayPal, Square, Vantiv, and Visa.
This 24-page Impact Note contains 19 figures. Clients of Aite Group’s Retail Banking service can download the report.