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Evolution of payments

Payments simplification is table stakes. The rise of open finance and new stores of value is defining the future of payments. It's time for payments institutions to make their choices. 

The evolution of payments can be seen as horizons - each operating in series and together, reflecting the dynamic nature of changes.

Horizon One confronts the imperative of modernization and the adoption of standards across the participant value chain. 

Horizon Two launches beyond transactions and into open ecosystems, where frictionless payments and innovative partnerships redefine the payment experience.

Horizon Three encourages proactive experimentation to prepare for new stores of value such as CBDCs and NFTs, and “everywhere, anything” purchases. 

Whether it’s banks, issuers, acquirers, or payment networks the options are clear: scale fast or exit, double down on efficiency, and be bold.

Latest thinking

Modernizing the card payment messaging standard

Bridging the translation capabilities between the existing ISO 8583 and ISO 20022 standards – at each level - is crucial to smooth the transition

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Six focus areas for acquirers to win today—and tomorrow

Long lasting success for merchant acquirers starts with a strategic view and creating a positive impact across the payments ecosystem

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Battle for the future of transactions

Discover how to engineer the payments strategy of tomorrow by putting customer centricity at the heart.

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Cognizant is a leader in Payments

Depth of partnership ecosystem and strong recognition by clients makes us a Leader on Everest Group’s Payments IT Services PEAK Matrix Assessment 2023.

Action & insight

Our leaders

Ashish Bhatnagar

Head of Cards and Payments, Global Growth Markets

Tracey Harrison

ASEAN and Greater China Country Manager

Vinay Nair

Head of Banking and Financial Services, ASEAN & Greater China

Balbir Rathod

Consulting Director & Payments Lead, ASEAN

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Ready to start your journey?

Connect with our Payments experts.