There are a variety of factors molding the payments sector today – from demanding customer preferences to intensified competition – payments organisations have a lot of pressure bearing down on them. A new whitepaper from Intix, the transaction data platform, reveals how firms across the sector are responding to these shifts.
In its whitepaper, Intix reveals how businesses can address the growing challenges that come from the new trends shaping the payments landscape. The transaction data platform also identifies key contributors in impacting trends as well as the challenges facing firms.
Commenting on the whitepaper, Yoann Vandendriessche, chief product officer, Intix and NetGuardians Group, said: “The payments industry is evolving faster than ever, making data-driven decisionmaking essential. At Intix, we believe that real-time access to transaction insights is the key to navigating this complexity and unlocking new opportunities for growth and innovation.”
Four transformative payment trends
The whitepaper found that surging transaction volumes, increasing payment complexity, the accelerated adoption of instant payment methods, and a significant transition from card-based to account-to-account payments were the main recurring themes in the evolving payments market.
Legacy systems served their purpose well when first introduced, but in the modern business era, they are holding organisations back. Their capacities are being challenged by the sheer growth of transaction volumes. To make matters worse, the scalable solutions that are required to deal with this growth are often not compatible with legacy systems.
Another factor contributing to these complications is the increasing complexity within payment processes. In its whitepaper, Intix reveals that the growing diversity of payment pathways and regulatory requirements necessitates sophisticated approaches to ensure compliance and efficiency.
Not all of the defining payment trends are challenges, though. The whitepaper also shows that instantaneous transactions are becoming the norm – even for cross-border payments. As such, there is a need for robust infrastructure capable of supporting real-time capabilities. In line with this, Intix also shows that consumers and businesses alike are embracing new, diverse payment options, compelling providers to adapt or innovate to stay relevant.
Challenges rising
Upgrading legacy tech remains a key hurdle for organisations, however, it is not the only challenge facing firms. The whitepaper also identifies four key challenges:
- Ensuring infrastructure resilience
- Combatting the escalating sophistication of fraud
- The transparency-complexity paradox
- Navigating regulatory complexity
Intix stresses that there is a real urgency to deal with these problems, otherwise, firms risk falling by the way side and losing out to their competitors. Commenting, Antoine Cuypers, director of strategic alliances and key accounts at Intix, said: “The payments landscape is more complex than ever, with rising transaction volumes, increasingly sophisticated fraud tactics, and tightening regulations creating significant challenges for financial institutions.
“To stay resilient, businesses must shift from reactive responses to proactive strategies— leveraging real-time insights and data-driven solutions to mitigate risks, enhance compliance, and streamline operations.”
While challenges persist, firms must stay strong. Supporting this, Joris Lochy, product manager at Intix, added: “To overcome today’s challenges and seize new opportunities, financial institutions must embrace transformative technologies. Unlocking the full value of transaction data requires tools that provide real-time visibility, advanced analytics, and seamless monitoring capabilities.”
