Thursday, 9 February 2017

The digital battle that banks must win | McKinsey & Company

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The average customer interacts with his or her bank at least twice a day for payments-related matters, such as buying a financial product, checking on a payment, or paying a bill. These interactions represent more than 80 percent of customer interactions with banks, making payments a superb platform, or beachhead, for cross-selling other financial services.

From The digital battle that banks must win | McKinsey & Company

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The consultancy estimates that the new new breed of payment initiation service providers will erode 33% of online debit card transaction volumes and 10% of online credit card transaction volumes resulting in a total market share of 16% of online retail payment volume by 2020.

From Banks set to lose 43% of retail payments revenue under PSD2

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