by Dominic Broom, Head of Treasury Services EMEA, BNY Mellon
The global payments business is being significantly and rapidly reshaped by a number of market forces and developments. Indeed, such changes are already in motion, and will usher in a new era of payments by 2020. Dominic Broom, Head of Treasury Services EMEA at BNY Mellon, examines these drivers and the need for banks to act now, if they are to grasp the opportunities on offer in the evolving world of global payments.
The payments environment in 2020 will look considerably different from that which we know today. Although change is multifaceted, a number of key factors are responsible, and the speed and extent to which they are altering the payments business is expected to gather momentum.