FinanceBanking & FinanceFinanceInFocus

Banking Payments Revenues Declined by $9 Billion by 2025

Sharing is caring!

Indian banks are at risk of losing over USD 9 billion in revenues over the next six years because of the changes in the payments landscape, a consultancy firm said on Thursday.

Payments will become “more instant, invisible and free” in the next few years, which will put the revenues of the lenders at risk, despite an evident growth in the segment, the survey said.

It can be noted that the last few years have seen a massive surge in digital payments, which will be giving a convenient alternative to users has presented banks with an attractive revenue stream.

In its study, Accenture said payments revenues will grow by 10.7 per cent every year over the next six years to USD 70 billion by 2025. However, banks may not be able to garner all the goods for themselves, as the non-bank players become more active in the segment, it warned.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: