"Telecommunications companies won't be able to afford their expensive call centers much longer, given their shrinking margins. Fortunately, they can cut their customer service bills in half by following the lead of airlines and retailers that have successfully moved many of their transactions to the Web. Many customers are willing � and some even prefer � to deal with the telcos over the Internet, but these companies must dramatically improve their online capabilities to meet such people halfway."
Alternative Payment Methods (APMs) – comprising digital wallets, instant payments, and QR payment systems – are experiencing explosive growth that's reshaping the global financial services marketplace. According to the latest worldwide market study by ABI Research , the combined global transaction value for APMs is projected to reach $142 trillion by 2030. What's particularly fascinating is the underlying driver behind this trend: a growing desire for financial sovereignty, with nations developing domestic payment ecosystems rather than remaining dependent on international financial networks. Payment Ecosystem Market Development In 2024, approximately 45 percent of the global population used digital wallets – a remarkable adoption rate for a technology that barely existed a decade ago. China leads this transition, with 95 percent of its population using WeChat's payment functionality. WeChat exemplifies the "super app" phenomenon, where payment capabilities are in...