Forecast: Banks to lose $280B to startups by 2025

Consulting firm Accenture has calculated that by 2025 traditional banks will lose up to $280B (15 percent) in revenues from payment transactions to Fintech start-ups that offer free money transfers. According to Accenture, the global payment business was worth around $1.5 trillion this year. By 2025, the value could rise to two trillion dollars. As more and more payments are processed immediately, the demand for credit cards is declining. reuters.com

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