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| Open Access | SWIPE REVOLUTION: THE RISE OF ALTERNATIVES IN CREDIT CARD SYSTEMS
Tushar Kokje , B. Tech., Executive MBA – Finance Pune University, IndiaAbstract
The credit card payment industry, historically dominated by a duopoly of major players, is witnessing significant disruption with the emergence of alternative payment schemes. This article examines the factors driving this shift, including technological innovation, regulatory interventions, and evolving consumer preferences. The rise of fintech solutions, open banking systems, and regional payment networks is creating a more competitive landscape, challenging the entrenched dominance of traditional players. Through a detailed analysis of market trends and case studies, the article explores how new entrants are reshaping the industry by offering greater flexibility, enhanced security, and cost-efficient solutions. It also discusses the implications for stakeholders, including consumers, businesses, and regulators, as the industry moves towards a more inclusive and diversified future.
Keywords
Credit Card Industry, Payment Schemes, Fintech Innovation
References
Managerial Economics by Suma Damodaran
Nilson Report
World Bank Website[http://data.worldbank.org/data-catalog/GDP-ranking-table]
Lafferty Research Website [http://www.laffertyresearch.com]
Amex Website [https://www.americanexpress.com/]
JCB Website [http://www.jcbcard.com/ ; https://www.jcbusa.com/]
UnionPay Website [http://en.unionpay.com/]
Discover Website [https://www.discover.com/]
NPCI Website [http://www.npci.org.in/home.aspx]
Bloomberg Website [http://www.bloomberg.com/news/2014-02-10/amex-climbs-as-analysts-praise-plan-to-lure-small-merchants1-.html]
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Copyright (c) 2024 Tushar Kokje
This work is licensed under a Creative Commons Attribution 4.0 International License.