Last week, MRP highlighted the disruption that could be caused by online lenders. But that is only one variable of the equation. The other highly disruptive sector in financial technology is payments. This market primarily manifests in 2 forms: peer-to-peer transactions and purchases of goods and services. The U.S. volume of person-to-person payments sent online or via mobile phone increased 21% to $348 billion in 2017 from the previous year. Meanwhile, the total purchase volume on credit cards from traditional payments giants Mastercard and Visa will increase to $28.3 trillion by 2020, from $20.9 trillion last year, according to Morgan Stanley. However, as payments have gone increasingly digital, big tech companies have begun to handle their own processing services and could begin muscling in on the space as a whole . . .

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