Five Critical Payment Lessons from The New Economy – A report from Kapronasia in collaboration with BPC

Digital transformation in the financial services industry is proceeding at a rapid pace, driven by intense competition from new players entering the market, the evolution of customer expectations, regulatory pressures, and Covid-19. How are payment players meant to respond to such an unforgiving terrain?

Through interviews with digital banks and wallets, FinTechs, online (payment) platforms, and incumbents as well as a significant amount of secondary research, the answer can be distilled from five critical payments lessons:

• Focus on the customer experience
• Be where the customer is
• Be adaptable to a rapidly changing marketplace
• Be secure against critical threats, and
• Effectively monetize your consumer data to provide hyper-personalized financial value-added services delivered contextually

In this report from Kapronasia in collaboration with BPC, we dig into each of these five lessons, revealing their nuance, interconnectedness, and value to payments players today.