Identifying opportunities for Issuers.

The payment cards industry has changed dramatically in recent years, with new technologies and regulations spurring innovation and lowering the barriers to entry for issuers. Meanwhile, there has been a shift to digital payments, which has created opportunities for bank and non-bank issuers alike.

Card payment volumes have been growing, and the world’s standout region is Asia Pacific. China is the star performer, and the number of cards in issue is staggering. And while digital wallets such as Alipay and WeChat Pay have pushed the growth of mobile payments in China, cards have a key role to play.

Similarly, in Africa, where mobile money services like mPesa have been hugely popular, there is still a role for payment cards in the rapidly developing markets. 

Cards are also in demand in other regions. In Europe, the most recent figures from the European Central Bank show an increase in the number of payment cards issued. So far, there has been a reported shift to digital payments in various markets, such as the Middle East, and even the least internet-savvy consumers have changed their spending habits and are now shopping online.

In the physical world, contactless - both on smartphones and cards - has been successful in providing convenience for cardholders in stores. Additional innovations have attempted to make it even easier for customers to tap and go. 

Card programmes have become increasingly cost-effective, especially for issuers who are unencumbered by legacy systems. With on-demand digital printing, for example, cards can be personalised and issuers can order a smaller print run for smaller customer segments as they are needed – such as fans of a football club – rather than committing to a large batch upfront.

Download your copy of this Finextra white paper, produced in association with FIS, to learn more.

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