The turning point for digital payments

Digital payments

According to the CEO of Seamless, an online payments firm, the most significant turning point in digital transactions will come if services can link directly to consumer bank accounts, cutting out credit card companies such as MasterCard and Visa, reports StrategyEye. Speaking at the NOAH 2012 conference in London this week, Peter Fredell says that because most online payment services are linked to consumer credit and debit cards, companies such as Visa are dominating the market. With the digital payments market rapidly expanding as consumer adoption of services such as PayPal and Square continues to rise, the question now is how these revenues will be carved up between service providers, retailers and payment firms.

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