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European and North American countries with advanced economies often serve as bellwethers for the payments industry when it comes to introducing new and disruptive technologies.
However, some of the greatest examples of digital payments disruption can be found in developing nations. In some cases, these countries not only adopt certain aspects of a digital payments ecosystem faster, but they also do so with more efficiency than their Western counterparts.
The fact that digital disruption in these regions can be complex and varied, makes it difficult for the industry to devise effective strategies for international expansion — but understanding the drivers of this disruption can significantly aid payments companies.
Despite each region’s unique attributes, there are shared key conditions that make a market ripe for digital disruption. These include new payments infrastructure, increased access to financial services, and government intervention to drive digital payment capabilities.
In this report, BI Intelligence examines several case studies of digital payments disruption to draw valuable insights for players in developed markets like the US to consider. These include India — which has made itself …read more
Source:: Businessinsider – Finance