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The evolution of the digital payment industry in Europe: an analysis of customers and profitability outlook as business model-s elements of digital banks
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Resumo(s)
This paper analyzes the business model evolution of the European payment system and
highlights a consumers’ preference shift towards technology. Digitalization and globalization
combined represent key factors that are driving consumers to modify their payment habits to
an increased use of apps by neo-banks and payment providers as a new tool to manage
individual finances. In addition, consumers’ role in the industry is changing organizations’
decision-making process by driving digital banks to build a more tailored service.
Consequently, an analysis of the business model of the industry is presented, followed by
recommendations that leverage on maximizing advantages and minimizing threats.
Descrição
Palavras-chave
Payment system Digital anks Europe Business model Digitalization Traditional banks Fintech