Dynamics of Payment Industry in 2021_V3.1
                     Dynamics of 
Payment Industry 
in 2021
Presented by:
Rahul Patel
Srishti Dey
 Introduction
 Trends & Dynamics of Payment Industry in 2021
Agenda  Closing Lines
 Q&A
 Rapid changes in the banking and payment 
processing industry 
 IT Companies rushing to adopt
Introduction  Real revolution due to rapidly changing landscape
 Economic
 Political
 social conditions
 Regulations
 Checkout process barriers minimized – online & 
offline.
 Number of steps to make a purchase reduced by 
Increased streamlining the checkout process.

Demand for Convenient choices  Mobile Payments
Frictionless  One-Click Payments
 Auto-Renew Subscriptions
Experiences  Contactless Payments
 Digital Wallets
 Other invisible payment methods
Forecast for
 COVID-19 accelerated 
adoption.
 38% of consumers 
perceive contactless as a 
basic feature of 
payments - The Futurist 
Group study
 Half a world population 
will use mobile wallets 
by 2024 - The Juniper 
Research 
 From being alternative 
payment methods, they 
are quickly becoming 
consumers’ preferred 
means of transacting.
 Enables users to send and receive money in seconds

Worldwide Due to rise of  Smartphones
Adoption of  P2P apps
 social pay
Real-Time  digital currencies
Payments  biometrics real-time settlement systems
 Real Motive – meet growing demands of customers 
Worldwide  Competition from new, aggressive players with fast-
growing business models
Adoption of  Other factors include 
Real-Time  merchant expectations
 regulatory pressure
Payments  globalization
 RTP will help 
treasuries manage 
working capital and 
shorten the time it 
takes to recognize a 
receivable. 
 Push transactions will 
enable anyone to 
authorize payment 
securely. 
 Additionally, 
immediate payments 
will improve data 
posting and 
management of 
processes resulting in 
lower operational 
costs.
 Capitalize on data
AI and  Process automation and fraud detection
Machine  AI-embedded tools define the future of payments 
Learning  Read customers' operations history buying and spending habits
Gain  predict their future activity

Momentum suggest an alternative payment method
 Extremely reliable in customer service
 Voice-activated transactions
 Bank of America – “Erica” – a chatbot 
AI and  balance notifications
 report updates
Machine  money-saving tips
Learning  other simple customer services

Gain Wells Fargo – Predictive Banking – AI-based smartphone app 
Momentum  recurring bill payments travel plan alerts
 money-saving alerts
 over 50 other rudimentary functions
 People spend on an average, over four hours on their 
phones each day – Rescue Time research.
Mobile  “BUY” on Social Media & “one-click checkout” options
 Mobile phone app downloads reached 204 billion in 
Commerce 2019 which increased to 218 billion in 2020 - Statista
Expansion  Money management tools & financial wellness scores
 No more inconvenience of using a physical credit card
 Digital-only banks
 Traditionally – slow, expensive, and time-consuming. 
Cross-  Hard currency compounds this, factoring in government regulation. 
Border  Barriers to entry  lead to find alternative methods to 
Transaction streamline international payment systems.

s Digital currencies and omnichannel payments
 Continuous improvements in APIs for faster real-time 
operations. 
 Store, access, and process data over the internet, not 
Cloud on physical devices. It promotes Agility
Migration to  Scalability
 Low operational costs
Suit  Better & robust security
Tomorrow  Ease of migration
 Minimal Downtime
 To leverage data to 
its full potential, 
you need it on the 
cloud, so your other 
systems can easily 
access it. 
 Figure out whether 
private, hybrid, 
community, or 
public cloud 
services best match 
your company’s 
needs. 
 Develop a 
migration strategy 
for critical systems 
that need a 
revamp.
 Open banking is now a global trend opening
 According to research from Accenture, 30% of small 
businesses and 40% of large corporate enterprises 
Open use open banking. The same report indicated that this trend is expected to boost organic growth by 10% 
Banking over the next 3-5 years.
Accelerating  Real-time credit transfers

Innovation Help businesses ship products right away
 Full access to customer information 
 Customize offers while safely managing risks. 
 Open banking is centered on an API
 The COVID-19 pandemic marketed a tipping point for 
COVID-19 the cashless society. 
Accelerates  Sharp decline in the use of cash as contactless payments and IoT payments exploded. 
Digital  In the early months of 2020, over $4.4 million worth 
Payments of digital payments were transacted. That is a 14% increase from the previous year, according to Statista.
Usage  Regulators recommended a shift to cashless systems 
to curb the spread of the virus.
 Data – primary resource in financial decision-making
 Understand customers' shopping behavior and spending 
patterns
 Delivering relevant product recommendations
 Targeting ads
Data  Customizing user experiences
Remains  E-commerce giants like Amazon already use data to 
target buyers for upselling, cross-selling, and personal 
the Most offers. 
Precious  Make decisions that scale your ROI
Resource  Banks can analyze customer purchases and recommend different products. Loans officers can 
monitor those receiving large bills and propose 
products to lower their costs.
 Calculate clients' risk, based on past payment history 
and social media comments. 
 Massive transformation & rise of convenient 
alternative payment industry trends due to 
convenience, speed, and easy functionality. 
 Cater to customers' global needs
Closing  Start early to outshine competitors and emerge as a 
trusted business that caters to the changing needs of 
Lines its customers.
 Disruptions forcing to evolve quickly to retain and 
grow their customer base. 
 The right software partner may be just what you need 
to stay within budget and make needed changes. 
Contact Us
Email: [email protected]
Website: www.digipay.guru
Thank You
Phone: +91 9574078295