Payments Industry 2016 In Focus: Main Stories And Trends

A landmark year for the global payments sector, 2016 was characterised as much by legal reforms as by seismic shifts in the political landscape. Regulators in the UK launched unprecedented new initiatives aimed at boosting innovation and supporting a burgeoning fintech industry, only for the vote to leave the EU to send shockwaves throughout the continent. In the US, regulators laid out a new vision for prepaid cards, card giants were hit by a slew of antitrust cases and fintech rose to the top of the federal agenda, before the surprise election of Donald Trump prompted speculation that the country’s post-crisis legislation could be completely overhauled. Across the globe, discussion flourished around fintech innovation, mobile payments and open banking.

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