The Technology – Payment Maturity Matrix has been conceptualized to indicate and infer the potential risks associated with an emerging payment innovation
Technology Maturity refers to the stage of evolution and maturity of the technology.
Payment Solution Maturity refers to the ‘newness’ of a payment solution and how much time is required for the solution to become stable and be widely accepted.
From the above matrix, it is evident that the risks associated with a new payment solution based on a new technology are very high. The nascency of a technology only increases the risks associated with the commercialization of a payment solution. On the other hand, if a payment innovation utilizes an existing stable technology; the associated risks would be lower. Combining an existing payment solution with an existing technology so as to cater to a specific customer need (speed for example) has a low level of risk
Extracted from the paper “Retail Payment Systems” published by the author under the guidance of Prof. P.C.Narayan