The world of payments has been in a state of constant change over the last decade, as new technologies have given rise to fresh challengers, consumer shifts have prompted market refocuses and digital capabilities have raised expectations.
But over the past year, that continuous evolution of the industry has been reshaped by a new economic environment due to geopolitical sanctions, rising inflation and shifting supply chains. Companies in the sector have faced rising costs, reduced volume and a tougher financial landscape in which to do business. In short, payments is facing a squeeze the likes of which it has not seen in many years.
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