Author: Aaron McPherson

Methods and Practices
September, 2011  -  Doc # FIN230177
Number of Pages: 11
Number of Figures: 2

This IDC Financial Insights report defines the emerging market of "cloud payments" and highlights the enormous opportunities it presents for financial institutions. The next big payments battle has been going on largely out of sight, a contest between Web behemoths such as Google, PayPal, and Amazon over who will provide payment services for online games, apps, and digital content providers.

According to Aaron McPherson, practice director, Financial Services, "The extension of traditional payment schemes into the cloud services space represents a unique opportunity for financial institutions and payment networks to tap a new revenue stream, turn payment systems from cost centers into profit centers, and place themselves at the center of one of the fastest-growing technology categories." Building on existing research in enterprise payments and mobile payments, McPherson provides a map of the territory, complete with a list of major opportunities that no financial institution can afford to be without.

IDC Financial Insights Opinion | In This Study | Situation Overview | Method Specifics | Future Outlook | Essential Guidance | Learn More