Credit card issuance and usage wane as digital and mobile payments increase in popularity.

Emerging new competition, changing customer expectations, and reduced profitability are forcing banks in India to revisit their strategic business and operating models as well as their digital transformation and technology innovation strategies.

The incumbent outlines its response to an increasingly fragmenting payments landscape offering to support old and new customers alike by helping them de-risk major technology investments with the provision of a gateway service.

The People's Bank of China has established an integrated system to connect banks, merchants, and retailers to facilitate increased transactions, which grew 74.5% to $913.5 trillion in 2015. With growing consumer spending, financial institutions in China have to step up to meet the needs of retail clients.