CMSPI Introduces Groundbreaking Industry Insights Report

CMSPI Unveils Inaugural Industry Insights Report

Today, CMSPI launched its much-anticipated State of the Industry Report, collaborating with the client-led Insights Advisory Council (IAC) formed recently. This council comprises esteemed global business thought leaders from major brands, all dedicated to enhancing the payment experience for both merchants and consumers.

Collaboration with Global Thought Leaders

The Insights Advisory Council includes notable names such as Amazon, Best Buy, Columbia, iHerb, lululemon, Kroger, McDonald’s, Shell, Sony, Target, and Walmart. Their joint efforts aim to create a more efficient payment processing landscape, signifying a shift towards greater collaboration.

Purpose of the Industry Report

The CMSPI State of the Industry Report serves as an essential resource for merchant leaders, payments professionals, and policymakers across the globe. It presents a merchant-centric view on various topics pertaining to payment acceptance.

Key Insights from the Report

As CMSPI’s CEO, Elley Frost, expressed, "We greatly appreciate the Council’s engagement and collaboration in producing this significant industry research." This statement reflects the commitment to illuminating key strategic payment issues that today’s leading merchants must tackle alongside their partners.

Detailed Analysis of Payment Acceptance

The report dives deep into critical areas including payment acceptance costs, supply chain intricacies, the booming ecommerce landscape, and distinctions across geographic markets. It also addresses evolving global policy developments that shape the payments sector.

Understanding Payment Infrastructure

CMSPI’s Chief Economist, Callum Godwin, points out that card payments involve a complex infrastructure filled with various rules and practices. This report aims to enlighten industry stakeholders about the dynamic nature of the global payments landscape.

Statistical Highlights of the Report

State of the Industry Report by the numbers:

• U.S. merchants bore a hefty sum of $224 billion for card payment acceptance in the latest year.
• Since 2009, payment costs for U.S. merchants increased by roughly 34 basis points, indicating a trend that could influence future strategies.
• There’s been a remarkable rise in ecommerce spending and associated card fees, leading to an estimated annual increase of $2.4 billion in interchange and network fees for U.S. merchants.
• Recent policy interventions, totaling over 300 globally, have played an influential role, particularly procompetitive dual network debit card routing, which could yield up to $4 billion in savings in the U.S. and $800 million in Australia annually.

More About CMSPI

As a leader in the payments consultancy sphere, CMSPI focuses on empowering Global 500 merchants through data-driven strategies. Their expert team combines specialized knowledge with robust market visibility to facilitate high-impact savings, sales growth, and excellence in payment strategies.

Global Presence of CMSPI

With key offices in several major cities across the globe, including Atlanta, Manchester, and Sydney, CMSPI continues to expand its influence in the payments field. The company is well-positioned to guide clients in navigating the complex payments landscape.

Frequently Asked Questions

What is the focus of the CMSPI State of the Industry Report?

The report emphasizes improving payment experiences for merchants and consumers while offering vital insights into payment acceptance and associated costs.

How was the Insights Advisory Council formed?

The Council was created recently, bringing together influential thought leaders from various sectors to collaborate on payment issues.

What significant trends does the report observe?

The report highlights increasing costs in payment acceptance and the impacts of ecommerce growth on merchants, alongside policy interventions that promote savings.

How does CMSPI assist merchants?

CMSPI provides expertise and tools to help merchants optimize their payment strategies, leading to increased savings and efficiency in processing payments.

Where can I find more information about CMSPI?

More insights and details about CMSPI's services can be found on their official website.

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