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THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the massive credit-card industry
Understanding this complex and rapidly evolving space can be challenging. In a new explainer, BI Intelligence offers a high-level look at the payments industry — how it functions, who the key players are, and the trends shaping the industry. We start by explaining payment-card processing, since the majority of consumer payments and transaction volume flow through this system. From there we take a look at how consumers' move to mobile devices is changing the way we pay, and which players stand to benefit.
Here are some of the key takeaways:
- The ecosystem for credit- and debit-card processing involves a complicated set of players interacting to process every transaction. Five types of players are involved: acquirers/processors, issuers, card networks, gateway providers, and independent sales organizations (ISOs).
- To process a typical transaction, three steps must occur: authorizing, batching, and funding. Each participant in this process takes a fee off of the total volume of a transaction. The remainder is deposited in a merchant's account.
- Three trends will shape the payment-card-processing ecosystem from 2015 onward: the EMV security migration, rapid development of new payment technologies, and the massive card-fraud problem in the US. While none of these developments will completely upend the incumbent system for processing payments, each will disrupt key players.
- The mobile point-of-sale (mPOS) is going to have a massive impact on the payments-hardware and payments-software industry. By 2019, we forecast that nearly 80% of US retailers will have implemented a mPOS device. The move to mPOS will continue to put pressure on hardware providers that compete directly against mPOS devices, as well as ISOs that sell legacy devices to merchants.
- While the payment-card-processing system as a whole isn't in danger, the proliferation of mobile devices will have a significant effect on the way we pay.
In full, the report:
- Provides 9 infographics and diagrams explaining how card transactions are processed and which players are involved in each step.
- Analyzes the key trends and forces that will shape the payments industry going forward.
- Details how mobile is shaping 5 types of consumer payment technologies and which companies to watch for within each category.
THE PAYMENTS ECOSYSTEM $395.00 
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