Research from Mercator Advisory Group titled Eight Technologies That Will Impact Payments and Banking Going Forward provides readers proof points that support Mercator’s predictions that six of these technologies will disrupt the banking and payments markets in 2016 and the other two will be in market as pilot implementations. Financial institutions that fail to recognize and prepare for these technologies will be at a market disadvantage.

“Surely every payment professional is well aware of these eight technologies, but are most likely unfamiliar with how rapidly they have evolved and are being put to use,” said Tim Sloane, VP, Payments Innovation, and author of report. “The elimination of passwords is no longer the distant future and mobile devices coupled with payment APIs are creating a set of new payment services that enable consumers to use existing merchant accounts at new locations. The goals of this report are to demonstrate that these technologies will be deployed in 2016, to identify the solutions within the payments and banking infrastructure that will utilize the technologies first, and to help our members quantify the effort that will be associated with embracing these technologies directly utilizing internal IT resources or by using third party expertise.”

This report is 27 pages long and contains 7 exhibits.

Companies mentioned in this report include: Airbnb, Amazon, Apple, Braintree, Capital One, Chain.com, ChangeTip, Chase, Citi, Diebold, Google, IBM, LuxeValet, Lyft, Microsoft, PeerNova, Royal Bank of Scotland, Shyp, Sprig, Synack, Tango, TaskRabbit, Uber, Vera, Visa, and WePay.