COVID-19 is a black swan event, a global pandemic unlike any event in the past century. It has significantly impacted the U.S. economy and, with it, the U.S. debit market. Transactions plummeted 25-30 percent in mid-March as shelter-in-place rules went into effect and businesses closed.
As a result, a number of market trends have been rapidly accelerated, including the migration of card-present transactions to card-not-present activity, greater adoption and usage of contactless and mobile wallets, and an increase in the volume and complexity of disputes and fraud, according to Oliver Wyman Partners Tony Hayes, Russell Jones and Joshua Gilbert. Guy Carpenter is an affiliate of Oliver Wyman.
While volumes have recovered to some extent from their lows, there is still considerable uncertainty over debit’s future. With the potential for the pandemic to transform every aspect of the business for debit card issuers, the time to act is now.
Oliver Wyman’s report lays out the macroeconomic impact of the pandemic, the first and second order implications for the debit market, and the future outlook. It also covers a list of recommended actions for issuers to protect their debit business, and eventually grow.
Click here to register to receive e-mail updates >>
"impact" - Google News
June 04, 2020 at 12:09PM
https://ift.tt/3dJjH9O
COVID-19's Impact on the US Debit Market - GC Capital Ideas
"impact" - Google News
https://ift.tt/2RIFll8
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "COVID-19's Impact on the US Debit Market - GC Capital Ideas"
Post a Comment