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- Emerging technology and changing customer behaviour may pose an existential threat to credit and debit card payment networks, but we remain optimistic about the payment industry’s future.
- Smartphones are giving consumers more ways to pay in-store and online through digital wallets, QR codes and in-app payment capabilities. However, cards still largely fund these digital wallets.
- Alternative local payment methods are becoming increasingly common primarily in emerging markets with underdeveloped banking systems.
- As more consumers make online purchases it will continue to have a positive impact on card network volumes.