In his book The Infinite Game: How Great Businesses Achieve Long-Lasting Success, Simon Sinek emphasises the importance of creating a sustainable business that can adapt and thrive over time, rather than focusing solely on beating the competition. This is a valuable lesson for merchant acquirers who face a rapidly evolving landscape.
The global Merchant Acquiring market is set for expansion in the coming years, driven by increased demand for integrated payment solutions, support for innovative payment methods and solutions that go beyond payments to address the wider merchant business needs. Moreover, the adoption of advanced technologies is anticipated to provide further opportunities for market growth.
Overall, the Merchant Acquiring market presents a myriad of opportunities for sustained growth, continuous innovation, and improved efficiency. To stay ahead of the curve, acquirers need to adopt a long-term view and focus on building a strong foundation while making strategic bets for long-term success. In our report Merchant Acquirers: How to achieve long-lasting success we outline six key focus areas for merchant acquirers in the years to come.
- Become a one-stop-solution provider for clients.
- Simplifying product propositions to save cost, reduce customer confusion and improve sales.
- Be aware of, but don’t fear, the pay-by-bank disruption.
- Commit investments to ensure superior and seamless customer experience.
- Take bold steps to progress from early trials to mass-rollout.
- Drive towards leaner, modernized cloud-native payments platform.
