Tag: Juniper Research

Blockchain

Blockchain to Facilitate $10 Billion Savings Globally in Cross-border Payments, as Operational Efficiencies Take Effect

Nov 8, 2021 by Rekha Nair 0 Comments #Juniper Research, #Research author Susannah Hampton

Basingstoke, UK – A new report from Juniper Research has found the deployment of blockchain for cross-border settlement will drive increasingly significant cost savings for banks; rising from $301 million in 2021 to $10 billion in 2030. Blockchain implementation in the cross-border settlement will enable stakeholders to leverage improved payment transparency and traceability; a critical advantage in an omnichannel payments market.

The new report, Blockchain in Financial Services: Key Opportunities, Vendor Strategies & Market Forecasts 2021-2030, found large trading nations, such as the US and China, will see the biggest cost savings from blockchain use, aided by high remittance volumes and increasingly favourable regulatory environments. In these high-value remittance markets, potential for blockchain to meet critical requirements of fast, reliable, and transparent payments will be a key driver of adoption.

Blockchain Solutions Seeing Success by Building Connections

As a result of an expansion in the number of integrations with major payment players across broad trade corridors, blockchain solutions such as RippleNet and Visa B2B Connect are already offering significant payment efficiencies compared with legacy systems. Additionally, Ripple has joined the ISO 20022 Standards Body; placing it in a strong position to establish blockchain as part of international payment standards.

As these networks build, Juniper Research expects blockchain adoption to increase over the next decade, with an expected 2 billion cross-border transactions facilitated by blockchain in 2030.

Stakeholder Buy-in Will Be Key to Further Growth

The reluctance from payment stakeholders to change established business practices and shift away from legacy systems represents a significant barrier to widescale blockchain adoption. Clear communication of blockchain benefits against the investment required for implementation will be crucial to stakeholder buy-in.

Research author Susannah Hampton says: “Current international remittance processes are severely constrained by legacy systems. Proof of cost savings through blockchain use will be critical for the technology to proliferate, as will fostering a culture of acceptance for the technology from the top down.”

Business

B2B Domestic Payment Transaction Values to Exceed $54 Trillion by 2023; Returning to Pre-COVID Levels

Oct 18, 2021 by Rekha Nair 0 Comments #Juniper Research, #Research author Nick Maynard

Hampshire, UK : A new study from Juniper Research has found that the transaction value of B2B domestic payments across payment methods will exceed $54 trillion in 2023, up from $49 trillion in 2021. The research predicts a growth of 10%; reflecting a slow recovery in business activity following the impact of the COVID-19 pandemic.

The research identified that while many businesses are now operating at pre-pandemic levels, the longer-term economic consequences of the pandemic are still restricting value growth. As such, leveraging payments automation to reduce manual work and boosting small business cashflow will be critical to recovery.

For more insights, download the free whitepaper: Breaking the Innovation Stalemate in B2B Payments

Domestic Payment Methods Shifting as Digital Takes Hold

The new research, B2B Payments: Key Opportunities, Vendor Strategies & Market Forecasts 2021-2026, found that the need to automate B2B payments at scale is leading to a fundamental shift in the way payments are made. The research forecasts that the volume of B2B domestic cheque payments will fall by 30% globally between 2021 and 2023, with cash payments falling by 11% over the same period. The need to automate payments means a shift towards more easily automated payment types, such as card and instant payments.

Research author Nick Maynard explained: “The pandemic has accelerated the transition away from traditional payment types, with growth focused on instant payments and card payments. This transition will be important for automation, but will take some time, given the established nature of these processes.”

Instant Payments – Fastest-growing B2B Domestic Payment Method

The research found that by 2023, global instant payment transaction volumes in the B2B domestic channel will grow by 56%; the fastest of any single payment method. The research identified the launch of instant payment schemes that can carry additional remittance data as having significant potential for simplifying the complex B2B payments ecosystem. However, the report acknowledged the uneven state of instant payments scheme roll-outs as a critical limiting factor, with Europe moving much faster than North America.

Business World, News

Route Mobile Wins 2 Gold at the 2021 Juniper Awards for CPaaS Provider of the Year and Best SMS Firewall

Feb 8, 2021 by Rekha Nair 0 Comments #Juniper Research, #Lead Analyst, #Managing Director and Group CEO, #Rajdipkumar Gupta, #Route Mobile, #Sam Barker

Chennai: Route Mobile Limited (“Route Mobile”), one of the leading cloud communication platform service providers to enterprises, over-the-top (“OTT”) players, and mobile network operators, won 2 Gold Awards across categories at the 2021 Juniper Awards. for Telco Innovation. The award honours leading players in the Enterprise Telecommunications, Network Security, and Anti-Fraud Markets.

Route Mobile won the Gold CPaaS Provider of the Year Award in the Enterprise Telco Innovation Category and another Gold Best SMS Firewall Award in the Security & Fraud Innovation Category.

Rajdip kumar Gupta, Managing Director and Group CEO, Route Mobile said, “We’re thrilled to win Gold in these 2 categories at the Juniper Awards – which are purely focused on Telco Innovation. It is a testament of our market leadership in the CPaaS ecosystem.” He further added, “We will continue to focus on cutting-edge products & solutions by strengthening our R&D to ensure innovative and disruptive communication solutions so businesses can adapt and connect effectively with their customers.”

Sam Barker, Lead Analyst, Juniper Research said, “Route Mobile have won 2 Gold Awards at Juniper Research for its continued innovation in the communications space, providing high-level traffic management services to enterprises and enabling them to send messages globally over its CPaaS Platform. It’s strong offering of SMS filtering, analytics and monetisation also provides enterprises’ with the tools needed to maximise their return on investment into messaging through revenue assurance and fraud protection.”