The retail payments business is in a state of transformation. As financial institutions are faced with the diminishing profitability of their payments business and increasing competition from new entrants, it has become necessary to reevaluate current infrastructure and payments capabilities. Banks are investing in their payments infrastructure to maintain their current clients and compete for new business while reducing costs, meeting compliance obligations, and handling security issues. But what are banks’ priorities for payments modernization, and how are they managing the changes within an already challenging environment? This panel will discuss market trends for retail payments and address the urgency of payments infrastructure modernization.