Being Transformed vs Transforming: How Payments Has Changed Over 18 Months
At EBAday 2026, Daniel Hurst of FIS Global highlighted significant shifts in the payments landscape over the last 18 months. He noted that the market has rapidly evolved, overtaking traditional strategies and planning efforts, leading to a fragmented environment without a centralized control.
Hurst emphasized the arrival of a hybrid market characterized by the prominence of digital assets. This transition necessitates a reconsideration of how banks and financial institutions approach transformational changes in their operations and strategies, adapting to the dynamic influences shaping the future of payments.
Key takeaways
- ▸Daniel Hurst noted the payments market has evolved faster than strategies and planning over the past 18 months.
- ▸A hybrid market is emerging, significantly influenced by the rise of digital assets.
- ▸The payments industry lacks a central controller, leading to fragmentation in strategy execution.
Why this matters
This commentary from Hurst underscores the urgent need for banks and payment service providers to adapt their strategies to maintain competitiveness in an increasingly digital and decentralized landscape. Institutions that fail to acknowledge these shifts may fall behind as they struggle to keep pace with agile competitors capitalizing on new opportunities in the payments space.
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