HFS Horizons Report on Cards and Payments Providers 2023

This document is an HFS Horizons Report that evaluates the capabilities of service providers in the cards and payments ecosystem for the year 2023. It outlines the significance of payments as a major area of investment and innovation within banking and financial services. The report categorizes service providers into three distinct Horizons: Horizon 1 focuses on digital optimization, emphasizing cost reduction and efficiency; Horizon 2 enhances customer experience through organizational alignment; and Horizon 3 aims at creating new value through ecosystem collaboration. The report assesses 14 service providers based on their ability to support clients in embracing innovation and realizing value. It includes detailed profiles of each provider, highlighting their strengths, development opportunities, and the value-based positioning across the Horizons. The findings are intended to guide stakeholders in making informed decisions regarding investments in payment innovations and collaborations within the ecosystem.