Key Highlights
- 78% of payment card industry professionals believe upskilling is essential for adapting to digital transformation
- The global payment industry is expected to allocate $1.2 billion annually toward reskilling initiatives by 2025
- 62% of payment card companies have implemented formal upskilling programs in the past two years
- 45% of payment industry workers consider their skills outdated due to rapid technological change
- 82% of organizations in the payment sector plan to increase investment in employee training by 2024
- Reskilling current employees reduces onboarding costs by approximately 30% in the payments industry
- 70% of payment industry employers see upskilling as crucial for maintaining competitive advantage
- 55% of payment card industry roles now require digital literacy skills, compared to 30% two years ago
- The number of online payment industry training courses increased by 150% from 2020 to 2023
- 67% of payment companies are adopting AI and require reskilled staff to manage these technologies
- Over 60% of payment industry employees are interested in learning blockchain technologies
- 76% of payment service providers believe that upskilling enhances customer satisfaction through better service delivery
- The average age of payment industry workers undertaking reskilling initiatives is 38 years old
In a rapidly evolving digital payment landscape, where 78% of professionals deem upskilling essential and global investments soar to $1.2 billion annually, the payment card industry is seizing the moment to transform its workforce through strategic reskilling initiatives that are redefining industry standards and securing future growth.
Skills Gap and Workforce Challenges
- 45% of payment industry workers consider their skills outdated due to rapid technological change
- 55% of payment card industry roles now require digital literacy skills, compared to 30% two years ago
- The average age of payment industry workers undertaking reskilling initiatives is 38 years old
- 48% of payment industry professionals feel inadequately trained for cybersecurity challenges
- 43% of payment companies report a skill gap in emerging payment methods like contactless and mobile payments
- The demand for upskilling in data privacy in the payment card industry has increased by 120% since 2021
- 54% of payment industry HR managers report difficulty in finding candidates with up-to-date digital skills
- 41% of payment employees are interested in learning about quantum computing applications
- 48% of financial institutions in payments report a skills shortage in API management
Skills Gap and Workforce Challenges Interpretation
Training and Education Initiatives
- The number of online payment industry training courses increased by 150% from 2020 to 2023
- Approximately 65% of payment companies have partnerships with edtechs for employee upskilling
- 52% of payment industry employees have taken online courses related to payment security in the past year
- 29% of payment professionals have completed certifications in cybersecurity in the past year
- The average training duration for upskilling in fintech-related skills is 12 weeks
- 64% of payment sector employees prefer microlearning modules for skill development
- Companies investing more than $100,000 annually in employee training see a 20% increase in payment innovation projects
- The average uptake rate for payment industry training programs is 45%, indicating room for growth in employee participation
- 44% of payment firms utilize virtual reality simulations for employee training
- In 2023, 88% of payment industry training initiatives focused on regulatory compliance
- 50% of payment industry training budgets are allocated to cybersecurity skill development
Training and Education Initiatives Interpretation
Workforce Development and Reskilling Strategies
- 78% of payment card industry professionals believe upskilling is essential for adapting to digital transformation
- The global payment industry is expected to allocate $1.2 billion annually toward reskilling initiatives by 2025
- 62% of payment card companies have implemented formal upskilling programs in the past two years
- 82% of organizations in the payment sector plan to increase investment in employee training by 2024
- Reskilling current employees reduces onboarding costs by approximately 30% in the payments industry
- 70% of payment industry employers see upskilling as crucial for maintaining competitive advantage
- 67% of payment companies are adopting AI and require reskilled staff to manage these technologies
- Over 60% of payment industry employees are interested in learning blockchain technologies
- 76% of payment service providers believe that upskilling enhances customer satisfaction through better service delivery
- 80% of payment industry leaders see reskilling as key to compliance with evolving data regulation standards
- 90% of surveyed payment companies plan to increase their investment in digital skills training over the next year
- 87% of payment firms offer internal reskilling programs focused on data analytics
- 58% of small to medium payment enterprises see upskilling as vital for growth
- 69% of payment industry professionals feel that their company's reskilling efforts have a positive impact on innovation
- Only 25% of payment card companies have a dedicated budget for reskilling initiatives
- 73% of payment companies cite customer trust as a driver for investing in employee upskilling
- 85% of managers believe that continuous upskilling can reduce staff turnover in the payment industry
- 68% of payment companies have incorporated AI-based training platforms for internal reskilling
- The reskilling market for payment professionals is projected to grow at a CAGR of 15% until 2030
- 77% of newly implemented payment systems require staff retraining within 6 months of deployment
- 55% of payment sector HR managers see reskilling as essential for digital transformation success
- 69% of payment professionals say that reskilling has improved their job satisfaction
- 59% of payment card organizations have developed dedicated upskilling pathways for underserved demographics
- 92% of senior payment executives agree that reskilling is necessary to adapt to emerging fintech landscapes
- The percentage of payment companies reporting successful reskilling programs increased by 35% from 2020 to 2023
Workforce Development and Reskilling Strategies Interpretation
Sources & References
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