Consider the following forms of payment systems:
- Cash
- Checks
- Credit cards
- Wire transfers
- Online payment systems (e.g., Venmo)
Which segments of the payment markets do you think each type of payment system will dominate in the future? A market segment can be characterized, for example, by
- Size of transaction (amount of money involved);
- Transactions between individuals, between companies, between individual and company;
- Type of good or service underlying transaction;
- Geographical distance between payer and payee;
- Payments involving a currency exchange;
- etc.