2023 was another turbulent year in the payments space – defined by fierce competition, front-end innovation, and increased regulatory scrutiny. And the payments industry is poised for another year of remarkable growth and change in 2024.

In fact, over half of UK and US payments professionals expect their organisation to grow by at least 50% this year. Therefore, we can expect 2024 to be another year of emerging players, nimble fintech start-ups, and established payments firms taking market share in a space once dominated by banks.

We’re also expecting more authorities across the globe to follow the UK’s Financial Conduct Authority (FCA) in introducing regulatory frameworks.

So, as we head into 2024, payments organisations across the globe must balance expanding with ensuring they can adapt quickly to evolving compliance requirements. Success will hinge on their ability to build agile and flexible operations to accommodate these changes.