Converting Paper Payments

Establishing regulatory framework is the first step to paper reduction in banking

For a rapid transition from paper to take place in a market, there have to be guidelines established by the government. Card issuers and networks will be hesitant to invest in a market with an uncertain regulatory environment.

Collaborating can deliver faster growth

Coordination among merchants, card and electronic companies, card issuers and government agencies delivers the fastest conversion rate, but this needs to be initiated by the government.

Communicate value proposition effectively to consumers

The payment actors involved in advancing a solution have to effectively communicate the value that cards or electronic transfers have over paper.

Paper contributes to shadow economy

The anonymous nature of cash payments plays a large role in shadow economies around the world. Tax evasion and the purchase of illegal goods and services is more difficult with non-paper payments.

Domestic networks can reduce costs over the long run

Although a domestic network can decrease the cost of processing card payments over the long run, deciding who has to incur the immediate cost often restricts development.

Internet retailing and m-commerce key drivers

In both emerging and developed markets, the transition of retailing online continues to drive down paper payments.

Government benefit distribution to accelerate

Government benefit distribution electronically or on cards has the potential to reduce costs for the government and reduce incidents of fraud, while providing an additional policy monitoring tool.

What this report includes

• Top-level strategic analysis of how major consumer trends will influence global markets
• Consumer insight
• Impact across all relevant consumer markets
• Unique graphics and case studies
• Key market snapshots
• Accompanying presentation to synthesise main findings

Why buy this report

• Identify factors driving change now and in the future
• Understand motivation
• Forward-looking outlook
• Briefings and presentation should provoke lively discussion at senior level
• Take a step back from micro trends
• Get up to date estimates and comment