The 2015 Boston Consulting Group’s ‘Global Payments Survey’ reviewed many aspects of the global payments market focused on to better understanding “how banks can advance in digital payments, BCG carried out a survey of nearly 5,500 consumers in four countries—France, Germany, the U.K., and the U.S. Their objective was to grasp why the adoption of digital payments has been relatively slow to date, as well as to identify current consumer needs, preferences, and pain points.”

The results have important implications as to how corporates need to set up their multi-payment channels. BCG found that:

• consumers are generall satisfied with traditional payment methods:
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  • Source & Copyright©2015 - Boston Consulting Group
• data privacy and security concerns are significant barriers to digital adoption:
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• Source & Copyright©2015 - Boston Consulting Group

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CTMfile take: Until a new payment system has made a signficant penetration or where they are starting to loose customers, corporates should stick to the well established payment systems whilst addressing consumer concerns on data privacy and security.