Banks spend on payments technology

18 Dec Banks spend on payments technology

Banks across the world are set to significantly increase spending on new payment technology in 2016, according to a study by analyst house Ovum.

Driven by increased emphasis on security, changing consumer behaviour, and new technologies - such as blockchain, mobile payments, and real-time payment transactions, almost two in three (61%) banks globally will increase their spending on payment technology next year.

Ovum’s conclusions are drawn from a survey of CIOs and other senior IT decision-makers in over 60 countries and processed data from around 6500 interviews in 17 industries.

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