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Data suggests that offering a variety of payment options is crucial in meeting shoppers' desire to have control over their expenditures. Insights from PYMNTS Intelligence data in 2022 indicated that 50% of consumers consider the option to use their preferred payment method significant when making purchases from online stores. Click here to learn more insights: https://buff.ly/3KcxjMU #industry #news #pymnts #data #payment #options #ecommerce #shopping #fintech #insights

During the "Battle of the Wallets" panel at #PaymentsDay, Christel Marcelis emphasized: "As merchants, we want to control the ecosystem with our customers. Leaving it to dominant market players means losing influence over their behavior." 💡 #Retail #Payments #CustomerExperience #Innovation

More than half of consumers are looking to increase their online shopping internationally, but also want more payment flexibility and transparency 🛍️ Our first global cross-border eCommerce report with Edgar, Dunn & Company reveals that 77% of consumers are inclined to abandon their carts if their preferred payment method isn't available. Discover more insights on the state of cross-border eCommerce in our report here: https://lnkd.in/exmXUpzF #fintech #ecommerce #report

💳 **Demystifying Split-Payment Plans: Navigating the Complex Landscape** 💸 The world of split-payment plans can be perplexing for merchants, with perceptions often differing from the actual offerings. Yet, despite the backend intricacies, consumers are increasingly drawn to split-payment options, and merchants are recognizing the potential for heightened sales and enhanced customer satisfaction. 🔍 **Navigating Merchant Perceptions:** Understanding split-payment plans is a common challenge for many merchants. The complexities on the backend can lead to varied perceptions, but the potential benefits are driving interest and adoption. 💡 **Consumer Appetite for Split Payments:** Consumers, seeking flexibility and transparency in their payment options, are fueling the rise of split-payment plans. The appeal lies in the ability to spread costs over time, making purchases more manageable. 📊 **Merchant Potential:** Merchants are beginning to realize the advantages of offering split-payment plans, with nearly two-thirds citing improved transparency in payment processing as a specific benefit. This not only aligns with customer preferences but also opens avenues for increased sales. 💼 **Key Industry Trends:** - **Digital Adoption:** The rise of split-payment plans is closely tied to the broader trend of digital adoption in payment solutions. - **Buy Now, Pay Later (BNPL):** The popularity of BNPL options reflects the evolving landscape of consumer preferences. - **Fintech Integration:** Fintech solutions are playing a pivotal role in reshaping how payments are processed and perceived in the retail sector. 🔄 **The Ripple Effect:** As merchants embrace split-payment options, it not only addresses consumer expectations but also contributes to the broader evolution of retail strategies and solutions. 🌐 **Conclusion:** In the dynamic realm of digital payments, split-payment plans offer a middle ground for merchants and consumers alike. Navigating this landscape requires an understanding of the complexities, but the potential for increased sales, customer satisfaction, and transparency positions split-payment plans as a key player in the future of retail payments. 💳💼 #DigitalPayments #RetailInnovation #FintechRevolution #PaymentSolutions #BNPL #RetailStrategy #FintechIntegration #PaymentTransparency Woongsik Dr. Su, MBA

More than half of consumers are looking to increase their online shopping internationally, but also want more payment flexibility and transparency 🛍️ Our first global cross-border eCommerce report with Edgar, Dunn & Company reveals that 77% of consumers are inclined to abandon their carts if their preferred payment method isn't available. Discover more insights on the state of cross-border eCommerce in our report here: https://lnkd.in/e_nXZgHK #fintech #ecommerce #report

🌐📈 In his contribution to our latest edition of the Cross-Border Payments and Ecommerce Report, Bob Hoyler, Manager – Retail and E-Commerce Insights at Euromonitor International, analyses the changing dynamics of global ecommerce by taking a 🔍 closer look at the current developments and 🌱making future projections. Some of the aspects covered include: 📌a snapshot of the current state of ecommerce; 📌how economic tendencies impact ecommerce; 📌the challenges threatening the sustained success of cross-border ecommerce; 📌projections for cross-border retail ecommerce sales. 💡 Check out his insightful analysis today, on page 10 of our report ➡️ https://bit.ly/48sqKQX #ThePaypers #report #crossborderpayments #crossborderecommerce #globalretail #retail #marketplace #marketplaces #mercadolibre #temu #amazon

🛒🌐The fifth chapter of our latest report seeks to shed light on the topic of B2C ecommerce by zooming in on two growing verticals: retail and digital goods – more precisely gaming. Here is a snapshot of what the chapter delves into: ➡️🛍️ pointers from Kelsey Fahy, The Fold London, on how to navigate the challenges associated with cross-border payments and cater to the evolving preferences of a global clientele. ➡️🌍a series of in-house researched infographics that provide an overview of marketplaces with a presence in Europe, Asia-Pacific, Middle East and Africa, North America, Latin America, or all around the globe. The marketplaces featured have been categorised based on three target groups – B2C, B2B, and C2C – and three verticals: #consumergoodsand services, #gigmarket and #recruiting, and #travelandhospitality. ➡️🎮 an in-depth analysis of the challenges and opportunities brought forth by new payment trends in the gaming industry by Mantas E. from Eneba. 💡Don’t miss out, grab your #free copy of the report today ➡️ https://bit.ly/48sqKQX #ThePaypers #report #crossborderpayments #crossborderecommerce #globalpayments #B2Cecommerce #B2Cpayments #infographic #marketplaces #gamingindustry #gamingpayments #retailpayments

More than half of consumers are looking to increase their online shopping internationally, but also want more payment flexibility and transparency 🛍️ Our first global cross-border eCommerce report with Edgar, Dunn & Company reveals that 77% of consumers are inclined to abandon their carts if their preferred payment method isn't available. Discover more insights on the state of cross-border eCommerce in our report here: https://lnkd.in/ekxuSHsv #fintech #ecommerce #report

Did you know that four out of five online customers will abandon their shopping cart if their chosen payment method is unavailable? 👀 Availability is obviously an issue here. Consumers want options for digital payment methods… specifically, they want THEIR option. Businesses that cannot give them that are at risk of losing a significant amount of sales. Remaining innovative and adaptable, therefore, is key for those offering B2C services. With online shopping becoming increasingly popular – and, in the case of the pandemic, often necessary – those who do not meet the demands of their customers may soon find themselves out of the game entirely. 😬 Interested to find out more? Then check out our latest blog, ‘The State of Australian FinTech: A Vision for Global Greatness’: https://lnkd.in/g4hSeAah #onlineshopping #ecommerce #fintech #technology #customerexperience #cx #digital #paymentmethods #shopping #tech #finance #australianfintech

Ever needed to secure a purchase without immediate cash flow? Your customer can do it with Buy Now, Pay Later (BNPL)—interest-free. This flexible payment option is reshaping consumer behavior and providing new opportunities for businesses to drive sales and enhance customer loyalty. According to the Global Payment Report, BNPL spending in the U.S. increased by 23% year-over-year in 2023, accounting for 5% of all online spending. In the retailer industry, business have seen significant benefits, particularly during peak shopping periods. Cyber Monday 2023 marked BNPL’s largest day to date, with over $940 million in e-commerce transactions. Some key benefits 👇🏼 ✔️ Enables consumers, especially younger demographics, to manage larger purchases more effectively. ✔️ Anticipated to grow at a 10% CAGR through 2027, highlighting its potential when implemented responsibly. ✔️ Helps businesses increase sales and reduce cart abandonment by providing greater payment flexibility. ⚠️ The challenges As BNPL expands, it’s drawing closer attention from regulators. The Consumer Finance Protection Bureau (CFPB) highlighted concerns in 2023 about its use among consumers already burdened with debt. Ongoing discussions aim to regulate BNPL similarly to other credit products, although these regulations are still under development. What are your views on BNPL’s rapid growth and potential regulatory changes? #BNPL #Fintech #Ecommerce #DigitalPayments #CFPB #FutureOfPayments #PaymentRevolution