There has been 20 years of uninterrupted growth in the global payments market. But that growth is tailing off and with that, the revenue that banks generate from the payments business is also tailing off.
Clients are becoming more efficient, new non-bank players are moving in on the business and consolidation among clients and banks is diminishing the returns banks can make.
Allied to this is the general accusation clients make that banks charge too much for basic payments services. The banks respond that they charge too little. It seems as if the market is reaching a tipping point where the chasm of expectation and delivery could...
