$36 of global payment volume comes from digital platforms and marketplaces
Emerging technologies have also directed companies that want to perfect the payment point experience and whose main field of activity is not finance, to financial technology business models.
Customer experience becomes the key to gaining competitive advantage for end-user businesses. Payment processes have also been the most important part of this transformation. With open banking, payment and embedded financial technologies that have just entered our lives, companies that contact the user, want to perfect the experience at the payment point.
The projections of the global market research company IDC (International Data Corporation) showed that by 2030, 74% of payments will be made from digital platforms that are not financial institutions. SoftRobotics Partner and Technology Leader Bruce Afruz, which produces software solutions focused on payment gateways, virtual pos systems and digital wallets for businesses, evaluated the major trends shaping financial technologies. Stating that IDC forecasts show that three out of every four payments by 2030 will be made through non-financial services businesses, Bruce Afruz said, “Developing financial technologies have brought every business to a point where it can turn into a fintech company.” $36 trillion of global payments volume comes from digital platforms and marketplaces.
$36 of global payment volume comes from digital platforms and marketplaces
Data compiled by investment bank JPMorgan pointed out that $36 trillion of global payments volume comes from digital platforms that are shaping the future of payment methods. Stating that this share will increase further in the coming years, Bruce Afruz said, “In this period when we are talking about super applications that manage to offer many services to consumers at the same time, new ecosystems are being established, led by e-commerce giants and social networking platforms. These business models aim to enable users to perform all their transactions, including payment, without leaving the application or platform. Companies that want to reduce their foreign dependency on technology also want to develop and manage their payment infrastructures internally. As SoftRobotics, we step in at this point and with the fintech solutions we have developed, we offer businesses the opportunity to create new business models, create additional income sources in this direction, and improve the existing customer experience.”
