Capstone Headwaters released its Q1 Financial Technology (FinTech) & Payments coverage report today, reporting that deal volume and financings across the industry decreased 13% year-over-year. The contraction in transaction activity and financings reflects the adverse impacts of the COVID-19 pandemic felt in March, as transactions dropped by half compared to January and February.
Moving forward, we see significant opportunities for the Payments industry to continue evolving as it adds new revenue streams focused on the customer’s experience, risk management tools, cross-border capabilities, business-to-business (B2B) efficiencies and industry-specific offerings, and e-commerce and mobile capabilities.