ABSTRACT
This chapter establishes a context to the book, covering:
The direction of payments while considering the roles of banks, technology (FinTech) and the retailers in delivering a state of disruption – or should it be progress?
The critical success factors necessary to achieve any change in payment methods and their delivery
Payment’s role in enabling commerce to contribute to the development of emerging economies by drawing the comparison of the payment network and the transportation network, as both contribute to the distribution of products to markets not traditionally being assessable.
The author states his future projections (12) for changes to the payment eco-system, supported by a view that payments are in a transitional phase, requiring rationalization and modernization, and demonstrates what is in and what is on the way out of the payment eco-system.