Lending and Payments Global Market Briefing 2017Including: Lending, Cards PaymentsCovering: Bank of America, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Citigroup Inc, Credit Agricole, JPMorgan Chase, Wells Fa
World News: 10:45 GMT Tuesday 3rd January 2017. [SPi-Reports.com via SPi World News]
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- Lending and Payments Global Market Briefing 2017Including: Lending, Cards PaymentsCovering: Bank of America, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Citigroup Inc, Credit Agricole, JPMorgan Chase, Wells Fa
The lending and payments market comprises all establishments engaged in lending and payments related activities such as lending, payments and transferring service. The lending and payments industry is categorized on the basis of the business model of the firms present in the industry. Some firms might come under multiple categories.
The largest geographic markets by consumption in the lending and payments sector are Asia and the Americas. Asia was the largest geographic market in the Lending and Payments industry in 2016, accounting for almost 50% of the global market. This can be attributed to appetite for cheaper loans in countries such as China. The Americas was the secondlargest geographic market, accounting for 36% of the global market.
The focus on the security of cardbased payments has increased significantly across the world. This is mainly to prevent card fraud losses incurred by banks and according to Capgemini, the worldwide value of fraud losses reached almost US$16 billion in 2014 . In this regard, payment service providers and merchants have implemented various solutions including the Payment Card Industry Data Security Standard PCI DSS compliance, EMV technology, 3D Secure services, tokenization, biometrics and endtoend encryption. To combat the constantly evolving card fraud methods, the National Retail Federation NRF also updates its security guidelines continuously.
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