- July 15, 2010
- Global Payments Knowledge
- No Comments
- Acquiring, Banks, Barclaycard, Barclays, cards, Discover Plan Effect, PayX, Processors, retail, Vendors
We are now half way through 2010
And we are delighted to say many of PayX‘s previous market predictions have come true:
- Some Banks have confirmed that the Card Business has overtaken the Retail Bank Business, e.g. In a recent Barclays Global Retail Banking investor seminar that in 2009 Barclaycard‘s Profit Before Tax contributions was 40% versus Barclays UK Retail Banking at 39%.
- Banks have also re-initiated the 2009 stalled major business and technology projects (especially in the Card Acquiring space).
- Suppliers, including processors, are regrouping through merger and acquisitions, cost management, as well as refocusing on their cores.
- Internal changes within Card Business infrastructures are reaching a crescendo of major decisions that will cause major waves around the world over the next 5-8 years. PayX has been busy with this demand undertaking numerous PayX-DPE™strategic workshops around the world with Banks, Processors and Vendors.
Perhaps our most interesting observation for this year, so far, is that many of the more enthusiastic and capable players looking for mass growth are struggling to get mass traction and fading with enthusiasm, while the trusted stable players yet again look to be emerging with the lion‘s share. It will be an interesting second half year to see if the balance does tip, do people really want innovation enough, or will today‘s top players reign for another decade?