As the world begins to navigate out of the global pandemic, we expect the payments market to return to robust growth. The underlying factors that have driven expansion still hold — and the pandemic has amplified some trends, such as the shift to omni-channel and contactless payments. With secular tailwinds and asset-light business models in place, the payments sector will continue to support attractive valuation multiples in the quarters to come.

In our client work, we witness significant disruption across the payments value chain, as formidable new competitors scale up and new business models emerge.  While the changes are most pronounced in merchant services, the pace of change is equally robust in card issuing and payment processing.

Payments Plus is a quarterly update from Oliver Wyman and includes a sample of perspectives drawn from client work across the payments industry.  We welcome your feedback and questions; please contact us at payments@oliverwyman.com

This publication was created with contributions from our global Payments team.