Philippe David, chief executive, Welcome Real-time says:
"Alternative payment schemes will make further inroads into the traditional bricks-and-mortar payment space and are likely to further disrupt the existing business model of many payment providers. Reduced interchange fees will entice merchants to move over and alternative providers will expand upon the complimentary value-added services such as loyalty and promotional platforms that are often provided to the merchant.
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Digitals Wallets are likely to feature heavily in 2013, with major players competing to shift consumers and merchants alike onto their respective platforms. Consumer adoption is likely to increase once the focus has moved to the significant fraud exposure reductions that can be effected by locking away the inherently insecure payment card inside a secure digital wallet."
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