| | JUNE - 20236CIOReviewThe transformation the payments industry underwent in recent years received an impetus due to the pandemic. This led to specific changes in the financial relations between consumers and retailers. Recent trends indicate a shift from in-store purchases to digital retail and payments. Likewise, consumers have readily moved away from cash-based transactions, espousing alternate payment methods (APMs) like buy now pay later (BNPL), real-time payments, digital wallets, and contactless payments. Block-chain-based payments in the form of cryptocurrencies have also grown, with many merchants now accepting them as valid forms of payment. BNPL, as a fast-growing payment option, has 43 percent of users in the USA and is globally expected to reach 900 million users by 2027. Concurrently, the number of card issuers supporting the use of in-app payments through digital wallet options provided by Apple, Samsung, Amazon, and Google has increased, and the number of digital wallet users is expected to reach over 4 billion by 2025. Simultaneously, the growth of the real-time payment (RTP) sector has been facilitated by an increase in cloud-hosted payments-as-a-service (PaaS) solutions. The global real-time payments market was valued at 17.57 billion dollars in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 35.5% from 2023 to 2030.Considering these latest developments in the payments sector, this edition of CIO Review showcases the 10 Most Promising Payment and Card Solution Providers, which aim to provide customers with efficient, effective, and scalable payment and financial services. Among the featured companies are BHMI, a highly regarded provider of software solutions specifically designed to modernize and optimize the back-office processing of electronic payments, and Pivot Payables, whose cloud-based solution suite specializes in helping businesses optimize finance management. The magazine also features the expert perspectives of Barry Baird, Head of Payments Capability and Delivery, TD Bank, and Ryan O'Holleran, Director of Enterprise Sales, EMEA, Airwallex. These esteemed professionals share their invaluable insights concerning the developments and challenges within the industry, along with possible solutions. This is accompanied by a commitment to ensure a traversable, intuitive, and personalized customer financial experience. We believe that the valuable insights provided by these industry leaders in this edition will be instrumental in shaping your strategic choices for your organization. We eagerly await your thoughts and feedback.EditorialEmerging Trends in the Payment IndustryCopyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewEmail:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com Juiy - 14 - 2023, Vol 12, Issue - 58 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasGina ClumskyYenny TurnerTiffany HayworthAbner LawrenceVisualizersEdwin PaulBrian Harding*Some of the Insights are based on our interviews with CIOs and CXOsJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin Smith
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