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The move towards payments digitization in the US

The move towards payments digitization in the US

AB Icon Solutions
Published by: Research Desk Released: Sep 18, 2020

Pre-COVID 19, payments innovation in the US had been somewhat organic and piecemeal. Large banks were undertaking big budget transformation programs, with smaller banks scrambling to modernize with fewer resources, but with functionality and agility. Now, with the impact of the pandemic, global payments revenue growth is expected to shrink by at least US$165 billion in 2020 – meaning that the US payments industry needs to deliver on their digital strategies with an ever-tightening budget.