Capgemini – Payments Trends, 2024

Capgemini's report on payment trends for 2024 highlights several key areas of focus. One important development is the increasing adoption of real-time treasury management services, which empower corporate clients to make informed decisions and manage their cash more effectively. Another trend that is expected to gain prominence is the rise of card alternatives, such as pay by bank and buy now, pay later (BNPL) options. These alternatives are becoming more popular and may challenge the dominance of traditional card schemes and interconnected payment networks. Cloud-native composable platforms are also enabling the reimagination of back-end systems, leading to greater efficiency and innovation in the payments industry. The report also mentions the impact of regulatory initiatives, which are driving payment innovation and ensuring robust security. This includes the potential efficiency boost offered by instant payments and the adoption of central bank digital currencies (CBDC) to maximize financial inclusion. Tokenization is another key trend mentioned in the report, as it opens up new opportunities for value creation and enhances data security. The report also highlights the potential benefits of artificial intelligence (AI) in payment services, including increased productivity and improved client satisfaction. Overall, the report emphasizes the importance of digitalization in streamlining accounts payables and receivables processes and addresses various factors that may impact the payments industry, including inflation, geopolitical instability, regulatory changes, competition from new players, and operational costs.