Banks are experimenting with emerging technologies and business models to find new revenue streams. But stepping outside traditional banking molds introduces more business, reputational, and regulatory risk.

US digital commerce platforms will process $471.37 billion of their own payments by 2026. As a result, they’ll enjoy stronger customer relationships, added revenues, and cross-sell synergy.

“Over the last 12 months, we’ve seen a flurry of [media advertising] activity from outside the retail sector,” our analyst Sarah Marzano said on an episode of the “Behind the Numbers: Reimagining Retail” podcast. Although retail kicked off the commerce media trends, financial services, travel companies, and intermediaries such as Instacart and Uber Eats are monetizing their customer data and setting up ad networks. The rise of commerce media networks is changing the way advertisers approach targeting and how consumers interact with brands. Here are four predictions on these emerging trends.

Social commerce is the fastest-growing US retail channel, and retailers will need to offer a seamless payment experience to maximize the opportunity. Understanding payment preferences will be key to ensuring conversion at checkout.

Digital wallets’ transformation into commerce enablers speeds up. We make a case for digital-only consumer credit cards. And we see a new threat that BNPL poses to credit cards.

It may be an olive branch for Gen Zers and millennials who may be upset over its decision to stop accepting Amex. It’s a win for Venmo’s monetization journey

Proximity mobile payments are on a growth tear, driven by strong spend per user. Here’s how providers are using wallet integration and new features to make proximity payments stickier.

Influencer marketing is becoming a need-to-have for payment brands’ marketing teams. While not without risks, it’s key to building awareness and creating relationships with young consumers.

US P2P apps need to tap new uses and services to stay competitive, especially amid Zelle’s dominance. Here’s how each app sizes up and differentiates to attract younger generations.

In the last of five reports in our “Payments Ecosystem” collection, we look at what’s influencing retail sales growth across in-store, online, and social commerce channels—and what it means for payment providers.

Digital wallets are gaining share of retail transactions in the UK. Retailers that don’t accept them risk losing sales.

In the fourth of five reports in our “Payments Ecosystem” collection, we look at what’s influencing growth across P2P, remittance, bill pay, payroll, and B2B transactions—and what it means for payment providers.

In the third of five reports in our “Payments Ecosystem 2024” collection, we unpack how the lines between POS hardware and software are disappearing as providers push the innovation envelope.

It could eventually force Apple to open up its NFC capabilities to other mobile wallets, disrupting industry dynamics

Payment providers are tapping genAI to personalize marketing offers and virtual assistants while streamlining customer checkout. These tools could help providers monetize transaction data and help merchants drive sales.

Discover the dynamic shift toward digital wallets in the US and the UK in the latest podcast episode of "Behind the Numbers: The Banking & Payments Show." Delve into the compelling discourse on how younger generations' move to digital is rendering traditional wallets obsolete. Join host Rob Rubin, our US-based analyst Tyler Van Dyke, and UK-based analyst Carina Perkins as they unravel trends in digital transactions for dining, shopping, and ID verification. In the "For Argument's Sake" section, we dissect the fierce competition for market dominance among industry giants like Apple and Google, established players like PayPal, rising star Paze, and potential disruptors. Tune in for a forward-looking conversation and hit subscribe for the latest insights. Key insights: - Youth-led shift: Analysis reveals a robust trend among younger consumers pivoting to digital wallets for everyday activities, indicating a cultural and technological shift. - Market dominance debate: We uncover the strategic moves by tech titans and emergent challengers vying to capture the largest share of digital wallet users. - Cross-Atlantic perspectives: Insights from US and UK analysts present a diverse view on the adoption of digital wallets, offering a broader understanding of the global digital economy.

Acquirers, networks, and issuers each play distinct roles in the payments purchasing chain. But those roles are shifting as providers adapt to the rise of software and value-added services, increased payment method choice, and cloud-based innovation.

Digital wallets are fast becoming consumers’ preferred way to pay, both in and out of the store.

The rollout includes AI-powered product recommendations and a one-click checkout experience. But in the fast-moving industry, these features could soon become commonplace among the major wallets

Fintechs, banks, and the government will reshuffle the payments deck in 2024. New features and competition will redefine the digital wallet user experience, and FedNow will pivot payment flows in new directions.