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Is the Retail Payments Industry Headed for Disruption?

Credit cards, search-to-purchase and the law of unintended consequences


The retail payments industry is missing an opportunity to expand profit margins by capturing a bigger share of the online search-to-purchase market. Numerous studies project that online purchases will grow to about 30 percent of all retail sales over the next 10 years — a market share significant enough to change the base of competition in the retail payments industry.

“Overshoot” — the term used to describe when companies offer more features and functionality than the most demanding customer segment can absorb or will pay for — is a sign that a product or market is vulnerable to disruption.

The Deloitte Center for Banking Solutions’ report, “Is the retail payments industry headed for disruption?” focuses on how retail payments for consumers and merchants is in overshoot and vulnerable to “disruptive innovation” — our term for an innovation that changes the competitive framework within an industry. The study also provides insights on how retail payment players can leverage their brand recognition, infrastructure, volume and profitability to help turn the search-to-purchase experience to their advantage.

Learn more in the report attached below.

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