In recent decades, the payments industry has undergone a significant transformation due to technological innovation, changes in consumer habits, and regulatory evolution. Digital solutions such as blockchain, contactless payments, wearable devices, artificial intelligence and open banking have reduced the use of cash, making digital payments predominant in economic transactions. This development has fostered the emergence of numerous innovative startups, which are redefining the competitive landscape, often anticipating the strategies of established companies. This research analyzes the role of startups in digital payments. The study consists of a literature review, to outline the theoretical framework, and an empirical analysis based on monitoring and ranking an international sample of startups operating in the sector. The results identify three key drivers of the transition to digital payments: the central role of digital wallets, the importance of payment acceptance solutions and blockchain, and the dominance of the United States in terms of development and funding. The study, supported by the Innovative Payments Observatory of the Politecnico di Milano, is structured into four chapters: the first explores the digital payments ecosystem and the role of startups, the second describes the data collection methodology, the third presents the empirical results, and the fourth discusses the limitations of the study and suggests insights for future research. Through a systematic, empirical data-driven approach, this research contributes to the understanding of the evolution of the digital payments market, providing useful insights for both academics and practitioners.
Negli ultimi decenni, il settore dei pagamenti ha subito una trasformazione significativa grazie all’innovazione tecnologica, ai cambiamenti nelle abitudini dei consumatori e all’evoluzione normativa. Soluzioni digitali come la blockchain, i pagamenti contactless, i dispositivi indossabili, l’intelligenza artificiale e l’open banking hanno ridotto l’uso del contante, rendendo i pagamenti digitali predominanti nelle transazioni economiche. Questo sviluppo ha favorito la nascita di numerose startup innovative, che stanno ridefinendo il panorama competitivo, spesso anticipando le strategie delle aziende consolidate. Questa ricerca analizza il ruolo delle startup nei pagamenti digitali. Lo studio è articolato in una revisione della letteratura, per delineare il quadro teorico, e un’analisi empirica basata sul monitoraggio e sulla classificazione di un campione internazionale di startup operanti nel settore. I risultati identificano tre fattori chiave della transizione ai pagamenti digitali: il ruolo centrale dei digital wallet, l’importanza delle soluzioni di accettazione dei pagamenti e di blockchain e il dominio degli Stati Uniti in termini di sviluppo e finanziamenti. Lo studio, supportato dall'Osservatorio Innovative Payments del Politecnico di Milano, è strutturato in quattro capitoli: il primo esplora l’ecosistema dei pagamenti digitali e il ruolo delle startup, il secondo descrive la metodologia di raccolta dati, il terzo presenta i risultati empirici e il quarto discute i limiti dello studio e suggerisce spunti per ricerche future. Attraverso un approccio sistematico e basato su dati empirici, questa ricerca contribuisce alla comprensione dell’evoluzione del mercato dei pagamenti digitali, fornendo insight utili sia per il mondo accademico che per gli operatori del settore.
Global landscape of digital payments startups: a comprehensive census and analysis
Zerboni, Yuri
2023/2024
Abstract
In recent decades, the payments industry has undergone a significant transformation due to technological innovation, changes in consumer habits, and regulatory evolution. Digital solutions such as blockchain, contactless payments, wearable devices, artificial intelligence and open banking have reduced the use of cash, making digital payments predominant in economic transactions. This development has fostered the emergence of numerous innovative startups, which are redefining the competitive landscape, often anticipating the strategies of established companies. This research analyzes the role of startups in digital payments. The study consists of a literature review, to outline the theoretical framework, and an empirical analysis based on monitoring and ranking an international sample of startups operating in the sector. The results identify three key drivers of the transition to digital payments: the central role of digital wallets, the importance of payment acceptance solutions and blockchain, and the dominance of the United States in terms of development and funding. The study, supported by the Innovative Payments Observatory of the Politecnico di Milano, is structured into four chapters: the first explores the digital payments ecosystem and the role of startups, the second describes the data collection methodology, the third presents the empirical results, and the fourth discusses the limitations of the study and suggests insights for future research. Through a systematic, empirical data-driven approach, this research contributes to the understanding of the evolution of the digital payments market, providing useful insights for both academics and practitioners.| File | Dimensione | Formato | |
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https://hdl.handle.net/10589/234293