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By Arnd HEßELER, Klemens WIPPEL, Laura PFANNEMÜLLER and Konrad HOLTKAMP, zeb consulting*
In the global payment markets, a number of trends have been observable for years, particularly as a result of advances in digitalization and interconnectedness: first of all, the expansion and explosive market power of international platforms with gigantic user bases, and secondly, the steady shift in the use of payments via the Internet and – associated with this – the continuous decline in the use of cash.
Bill Gates, the founder of Microsoft, predicted in 2017: “All platforms, whether it’s Apple, Google or Microsoft will have a payments feature in , the future.”
And indeed, in many industries we can increasingly observe large...
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