References 12. MarketWatch, “Five payment system deals that Contact the authors could follow an already big wave of M&A,” April 3, 1. Accenture Research Global Payments Revenue 2019. https://www.marketwatch.com/story/here- Model 2019 are-5-payment-system-deals-that-could-follow- Alan McIntyre 2. Accenture Research analysis on global data 2019 an-already-big-wave-of-ma-2019-04-03 Senior Managing Director – Banking 13. SAASTR, “Avoid Trapdoor decisions: 5 lessons [email protected] 3. InstaPay Tracker. https://www.instapay.today/tracker learned from scaling stripe,” March 26, 2019. 4. Request to Pay. https://www.requesttopay.co.uk https://www.saastr.com/avoid-trapdoor- decisions-5-lessons-learned-from-scaling-stripe Sulabh Agarwal 5. Digital Transactions, “PayPal launches Instant Transfer 14. S&P Global, “Global transaction bank revenues Managing Director – Payments in Canada using Visa Direct,” July 2, 2019. https:// hit highest level since 2010,” March 6, 2019. [email protected] www.digitaltransactions.net/paypal-launches-instant- https://www.spglobal.com/marketintelligence/en/ transfer-in-canada-using-visa-direct news-insights/latest-news-headlines/50403778 6. Ripple. https://www.ripple.com 15. CNBC, “Money transfers in seconds. Gareth Wilson 7. Amazon.com. https://www.amazon.com/ A start-up that is trying to usurp Western Managing Director – Global Payments b?ie=UTF8&node=16008589011 Union and shake up the $689 billion money [email protected] transfer market,” May, 18 2019. https://www.cnbc. 8. Accenture Research analysis on Global Data. com/2019/05/17/a-start-up-trying-to-upsurp- Revenue per transaction includes interchange fee western-union-in-money-transfer-market.html Luca Gagliardi and currency conversion fee; other fees are excluded. 16. Stripe. https://stripe.com Senior Principal – 9. Accenture Research analysis on Global Data. Accenture Research, Banking Revenue per transaction includes interchange 17. The Banker, “Invisible payments move [email protected] fee and currency conversion fee; other fees into sight,” May 1, 2019. https://www.thebanker. and interest revenue are excluded. com/Transactions-Technology/Invisible- payments-move-into-sight Contributor 10. Accenture Research analysis on Global Data. 11. Accenture Research analysis on CB Insights data. Dominika Bosek-Rak Research Specialist – Accenture Research, Banking [email protected] 14 GLOBAL PAYMENTS PULSE SURVEY 2019 TWO WAYS TO WIN IN PAYMENTS