80% of banks say payments are becoming less profitable

September 23, 2019 | Banking

Written by FinTech Alliance

80% of banks say payments are becoming less profitable

A new report has stated that payment profits are becoming a big problem for top-tier banks.

In Brief:

  • The report, entitled The Payments Transformation Race: Criteria for Success, is by Aite Group.

  • High costs, low margins and increasingly commoditised business models were cited as key issues to profitability. 

  • 65% of banks ‘struggle’ with payment profitability.

What does this mean?

The report looks at the issues faced by senior executives at the world’s top-tier banks. A key focus is currently customer retention, especially with new disruptors in the payments space.

Read more here.

 

 

 

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