CMSPI STATE OF THE INDUSTRY REPORT
Overall Scorecard
PAY BY BANK (BANK TRANSFER
DEBIT CARD
17.4 18.3 17.1 17.1 17.0 13.9 16.1 16.3
DIGITAL WALLET (PASS THROUGH) DIGITAL WALLET (STAGED/STORED)
CREDIT CARD
CASH
REAL-TIME PAYMENTS
Transfer of funds electronically from one bank account to another, using a communication system between two banks. 395
BANK TRANSFER
BUY NOW, PAY LATER
STABLECOIN
12.0
Scorecard Summary Bank transfer’s governance is commonly mixed between private and public entities. Other factors like active decision-making forums and central bank involvement provide bank transfers with a higher governance score in comparison to other payment methods. Global acceptance and usage of bank transfers as C2B payments vary; where they are more popular, they are usually in the online environment rather than in-store. While bank transfers are reliable regarding recurring payments, the overall user experience, including factors like authorization and cross-border capabilities, is lacking in comparison to other methods. The security of bank transfers is dependent on the provider; usually, they are inclusive of frameworks for error resolution and approvals, but consumers are not always guaranteed their money back in situations of authorized fraud.
Case Studies The United States (p. 119) and the European Union (p. 120)
111
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