The future payments landscape is moving toward a post-card world where value flows directly between accounts, often autonomously. Traditional Payments Networks and Financial Institutions (FIs) can no longer rely on interchange fees as their primary revenue engine.
Below is the strategic roadmap for how these entities must transform to remain relevant
Stage 1: The Modernisation & A2A Surge
Focus: Upgrading the “pipes” and shifting from cards to direct account access.
- The A2A Takeover: Account-to-Account (A2A) payments move from niche P2P transfers to the primary retail checkout method. Real-time rails (RTP) become the global baseline.
- Data-Rich Messaging: The shift to ISO 20022 allows payments to become “smart,” carrying full invoices and identity data within the transaction itself.
- The Fall of Interchange: Revenue from simple “transaction tolls” begins to plummet as merchants demand lower-cost A2A options over traditional high-fee networks.
Stage 2: Invisible & Embedded Ecosystems
Focus: Removing friction and integrating payments into the “human experience.”
- Embedded Finance: Payments disappear into the background. Software, cars, and appliances handle the transaction at the point of consumption without a physical interface.
- Biometric Authentication: The shift from “what you have” (a card) to “who you are.” Biometrics replace the wallet, linking the physical body directly to the A2A rail.
- Stablecoin & CBDC Integration: Digital currencies move from speculation to utility, providing the 24/7 liquidity needed for an always-on global economy.
Stage 3: The Autonomous & Tokenised Economy
Focus: Shifting from human-initiated to machine-initiated value exchange.
- Agentic Commerce: AI agents act as financial fiduciaries, negotiating and executing micro-payments autonomously based on user-set parameters.
- Universal Tokenisation: The “Internet of Value” arrives. Any asset—be it a fraction of a stock, carbon credits, or loyalty points—can be used as “currency” through instant, atomic swaps.
- Programmable Settlement: Smart contracts ensure that payment only occurs upon the verifiable fulfilment of a service, eliminating the need for escrow or manual verification.
Strategic Planning for Institutions & Networks
I. Revenue Transformation: From “Tolls” to “Trust”
As A2A rails commoditise the movement of money, institutions must find new ways to monetise the flow.
- The Strategy: Become the Trust and Safety Layer. A2A is fast, but it is often “final” and risky.
- The Action: Networks should build “Subscription-based Protection” or “Fraud-as-a-Service,” where they guarantee A2A transactions for a fee, effectively replacing interchange revenue with insurance and dispute-resolution revenue.
II. Architectural Transformation: The “PaaS” Model
Legacy “spaghetti” code cannot handle the high-velocity, 24/7 demands of an A2A and autonomous world.
- The Strategy: Pivot to Payments-as-a-Service (PaaS).
- The Action: Financial Institutions must decouple their ledger from their payment processing. By using cloud-native, API-first architectures, they can “plug and play” with any new rail (CBDC, RTP, or Blockchain) without a total system overhaul.
III. Identity Transformation: Moving Beyond the Account
In a world of A2A, the bank account is a commodity. The Verified Identity is the prize.
- The Strategy: Become the “Custodian of Identity.”
- The Action: Develop Decentralised Identity (DID) vaults. When an AI agent makes a payment via an A2A rail, the institution provides the “Cryptographic Handshake” that validates the transaction. Revenue is generated per identity check, not per dollar spent.
IV. Asset Transformation: Preparing for Multi-Asset Liquidity
Payment networks must plan for a world where “money” is just one type of spendable value.
- The Strategy: Build Interoperability Bridges.
- The Action: Infrastructure must support the instant conversion of tokenised assets. If a machine wants to pay for electricity using a fraction of a Treasury Bond, the network must facilitate that “Atomic Swap” instantly and compliantly.
Strategic Planning Checklist by Stage
| Stage | Financial Institution Focus | Payment Network Focus |
| Stage 1 (Modernization) | Launch A2A retail products; Map legacy data to ISO 20022. | Develop “Request-to-Pay” (R2P) standards to standardize A2A. |
| Stage 2 (Embedded) | Integrate biometric KYC; Open APIs for 3rd-party embedding. | Transition to “Fraud-as-a-Service” models; Build CBDC bridges. |
| Stage 3 (Autonomous) | Deploy AI “Spending Agents” for customers. | Develop/Refine Request-to-Pay (R2P) standards to support machine-to-machine commerce |