
Businesses are increasingly focusing on key consumer drivers such as convenience, accessibility, security, speed and the cost of payments to increase acceptability of their products and services, and gain an advantage over their competitors. To target these consumer drivers, stakeholders in the payment value chain are primarily concentrating on digitalization of payments, increased interoperability, and the introduction of disruptive strategies to plug gaps in user demand and solutions offered by the industry. Changing consumer behavior, such as increased use of mobile devices to manage day-to-day activities and the increasing use of social media, has attracted a number of organizations to build their business and product strategies around these platforms.