Call it what you want–disruption, displacement, disenfranchisement. The fact is that the emerging person-to-person (P2P) mobile payment solutions are shaping the way that consumers pay one another.
Boston, MA (PRWEB) March 11, 2014
The paradigm is shifting for payments. New market entrants threaten to disenfranchise legacy systems for business-to-business (B2B) payments because emerging person-to-person or peer-to-peer (P2P) solutions are efficient, easy to use, and for the most part free. Mercator Advisory Group's newest Research Report, Emerging Low-Cost and No-Cost Online Payments’ Impact on Traditional B2B Fee Structures, examines why banks need to innovate to reduce the costs for B2B payments or risk losing business customers. More and more merchants and other companies are likely to initiate a tender shift from ACH and commercial card to P2P-like applications.
“Call it what you want–disruption, displacement, disenfranchisement. The fact is that the emerging person-to-person (P2P) mobile payment solutions are shaping the way that consumers pay one another,” comments Amy Hoke, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service and author of the research. “Growing adoption of these payment solutions is bound to influence commercial buyers and suppliers to look for similarly efficient and cost-effective ways to pay one another for business.”
Highlights of the report include:
- The shift in the payment paradigm
- Acceleration of the transformation to Banking 2.0
- Fee costs in current automated B2B payment structures for buyers and suppliers
- Profiles of emerging online P2P payment providers clearXchange, Dwolla, and Popmoney
The report is 11 pages long and contains 2 exhibits.
Companies mentioned in this Research Note include ClearXchange, Dwolla, Moven, PayPal, Popmoney, and Simple.
Members of Mercator Advisory Group's Commercial and Enterprise Payments Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.