44 Percent of Payments Executives Want to Disrupt their Value Chain
Reducing the number of intermediaries, such as card networks, in the
payments value chain is the top request among executives, according to
new report from
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Principle findings of this study include:
Revolutionizing
the cost structure
- Reducing the number of fee collectors in the payments value chain is the top opportunity cited by nearly half (44%) of the respondents, ranking higher than both targeted offers (41%) and mobile (39%)
- Nearly 60 percent (59%) of respondents are evaluating direct connections with banks to eliminate or reduce reliance on card networks—illustrating how organizations may reduce fee collectors
- 85 percent of banks report wanting to work more closely with organizations to reduce costs
Transforming the customer experience
-
75 percent of organizations believe consumers expect more payment
options:
- 92 percent of respondents representing consumer finance companies
- 91 percent of respondents representing higher education institutions
- 70 percent of respondents representing insurance companies
- In response, 50% of organizations are evaluating at least eight new payment methods
ACI and Ovum will be hosting a webinar
Survey Methodology
This digital survey was conducted online
to key payment decision makers globally in the fourth quarter of 2014,
providing a snapshot of payment perceptions among financial
institutions, scheduled billing and payment taking organizations such as
higher education, consumer finance and insurance, and merchant retailers.
Overall, this included a total 1,119 executive respondents across 15 industry sub verticals in 25 key global markets, resulting in over 144,000 separate data points on perceptions and expectations of payments among critical payment enablers globally.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20150601005103/en/
Media Contact:
dan.ring@aciworldwide.com
Source:
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