Consumer-to-Business Payments: What Will the Future of Retail Transactions Look Like Over the Next 10 Years?

Episode notes

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Company, is joined by Karim Ahmad, Partner, Bain & Company, Kelly Devine, President, UK & Ireland, Mastercard, and Colin O’Flaherty, Head of SME for Barclaycard Payments, to discuss the future of retail transactions. Retail payments is both a rich and growing industry, with Bain & Company estimating the total revenue value at $356 billion dollars, with a projected annual growth of 6% over the next 5 years. But the balance of power between traditional and new entrants in this area of finance is slowly shifting. In this hotly contested market, some 90% of today’s revenue pool could migrate to software vendors, major technology firms, and other contenders. How will the retail transaction market evolve over the next 10 years? Timestamps: - (03:14) Consumer to business payments - what is the future of retail transactions? - (05:53) Which providers/industry players have been driving the change in banks' monopoly vs reacting to the change in & how do you see that evolving in the market short term? - ( 10:07) Which trends interest you from the perspective of your role at Mastercard?

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