The context
The payments sector, historically dominated by banks allied to payment service providers (PSPs) such as Worldline or Ingenico, has undergone a profound transformation in recent years. New entrants arrived with packaged or, on the contrary, hyper-segmented solutions that can be easily integrated via APIs, and simplified pricing. In addition to the PSP segment, others are tackling payment terminals, direct debits and fractional payments. Here is an overview of the new forces at work.
Challenges
– PSP: Stripe and Adyen change the game
Traditionally, online retailers eager to manage online payments signed a distance selling contract with a bank and then used a PSP to manage processing. However, with more expensive but “full-service” solutions, integrating both “processing” and “collecting” as well as associated services (reconciliation, KYC), Stripe and Adyen disrupted the market.
