Despite uncertainties around global economic recovery, the card payments industry continues to show high growth rates globally. Card transactions continue to increase, driven by consumer preference for non-cash transactions. Cards are now increasingly being used for low-value transactions, and with significant growth in online and mobile commerce, card payments are expected to continue to show growth in the near future.

In this paper we explore how the merchant acquiring industry is undergoing a sea of change mostly driven by several factors: changing payment needs of merchants; consumer’s preference to shop online; a rapid increase in mobile commerce; and the emergence of non-banking players. Acquirers are also facing regulatory compliance pressures, and fraud and security concerns continue to challenge the industry.