Payments in transition: Leadership in an era of transformation

The report *Payments in Transition: Leadership in an Era of Transformation* highlights the evolving payments landscape and the need for organizations to modernize, innovate, and build resilience. It identifies key barriers such as cybersecurity threats, regulatory complexity, legacy systems, and organizational resistance, while recognizing drivers like evolving customer expectations, competition from fintechs and big tech, and regulatory mandates. A perception gap exists: many executives believe they are leaders, yet fewer prioritize payments innovation at the C-suite level, revealing opportunities for competitive advantage.

Key insights include:

• Leadership in payments requires treating innovation as a C-suite priority, phasing out legacy systems, and aligning strategy with emerging trends.
• Regulations act as both barriers and drivers, demanding compliance while accelerating modernization and interoperability.
• Success hinges on balancing modernization, security, customer expectations, and ecosystem collaboration to navigate rapid change and maintain competitive advantage.