The payments industry had a huge year in 2014 and it’s showing no sign of slowing down. On the one hand tech giants like Amazon and Apple released new products that affirmed their long-term payments ambitions (Apple Pay and Amazon Local Register). On the other hand startups such as Stripe and ShopKeep continued to carve out market share, challenging older players like PayPal and VeriFone.

Understanding this complex and rapidly evolving space can be challenging. In a new explainerBI Intelligence offers a high-level look at the payments industry – how it functions, who the key players are, and the trends shaping the industry. We start by explaining payment-card processing, since the majority of consumer payments and transaction volume flow through this system. From there we take a look at how consumers’ move to mobile devices is changing the way we pay, and which players stand to benefit.

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Here are some of the key takeaways:

 

In full, the report:

Alissa McCue

Alissa McCue

Alissa McCue has over 10 years of marketing and public relations experience working for top brands in retail and technology. As Senior Manager of Public Relations at ShopKeep, the #1-rated iPad Point of Sale System, Alissa is focused on highlighting ShopKeep's major achievements and thought leadership in the POS and technology space for independent businesses.