There's gold in bank card transactions, and the prospectors have crowded in.

As in a gold rush, victory has gone to the swift: A select few companies from outside traditional banking circles have staked most of the claims. In roughly a decade they have redefined the specialty of merchant processing, changed the terms of competition, sparked new waves of innovation, and forced the banking industry to come to grips with still another case of market-share erosion.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.