Banks across the world are set to significantly increase spending on new payment technology in 2016, according to a new report from Ovum, the independent technology firm.
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.
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Blockchain technology to revolutionize the payments landscape
As attention moves away from Bitcoin as a currency and towards the longer term use of distributed ledger technology, Ovum’s report emphasizes how enterprises from banks to merchants need to get to grips with this technology now. Blockchain and distributed ledger technologies are finally approaching practical applications as the regulatory environment begins to become clear.
http://www.theasset.com/treasury/30558/banks-to-boost-spending-on-payment-technologies-in-2016
