Worldline’s Post

Recently we released the results of our Value of Acceptance research that examines attitudes of GCC merchants towards digital payments and the impact digital commerce is having on local small business growth. The study covered two groups of merchants - those already accepting digital payments, and those who still deal exclusively in cash. Results show a strong majority of merchants consider digital payments acceptance a critical investment in the growth and competitiveness of their business. Click on the link below to learn more.

We’ve just released the results of new research on the attitudes of merchants across the GCC towards digital payments and the impact of digital commerce on local small businesses and retailers. Visa’s 'Value of Acceptance' study gathered insights from two groups of merchants - those who have accepted digital payments for 1-4 years, and retailers who exclusively deal in cash transactions, and we found that a strong majority of merchants consider digital payments acceptance a critical investment in the growth and competitiveness of their business. Click on the link for the local market results. 

Visa's latest "Value of Acceptance" study in the GCC explores small merchants' attitudes towards #digitalcommerce and the impact of #digitalpayments on #business growth. With an increasing consumer shift towards digital payments, our findings can empower #merchants to tailor communication, target offers more effectively, implement loyalty programs, and enhance the overall customer experience.

Recently we released the results of our Value of Acceptance research that examines attitudes of GCC merchants towards digital payments and the impact digital commerce is having on local small business growth. As pet the research, 65% of Oman retailers have seen their revenues and customer traffic increase after starting to accept digital payments, and say accepting cards and mobile payments essential investment for business growth. As Oman forges ahead with its digital commerce agenda, our new 'Value of Acceptance' study underscores the transformative power of digital payments for Oman’s retail sector. There remains significant opportunity in Oman for digital commerce and we will continue to work with our local partners to support the government’s cashless agenda for the benefit of small businesses and the wider economy. https://lnkd.in/dzfGamzm. https://lnkd.in/dgTwNpqg

🌎💳 Mastering LATAM's Payment Landscape: A Guide for Global Expansion Expanding into LATAM requires a keen understanding of local payment preferences, crucial for business success. ➡️ Integrating local payment methods, like Boleto Bancário in Brazil and OXXO in Mexico, has an important role in consumer trust and market penetration. Read more about the impact of local payment integration on sales and consumer engagement, highlighting the necessity of a strategic approach tailored to LATAM's diverse economic and cultural landscape. 👇🏻 https://hubs.ly/Q02j6Yw80 #LATAMExpansion #LocalPayments #GlobalBusiness #MarketStrategy #globalpayments

Davi Strazza, Adyen’s head of North America, explained clearly what sets us apart in the crowded field of payments: "it’s very difficult to replicate what we’ve built over the past decade. If you look at our single platform framework, no one else can do that at the scale that we can. It’s literally one single platform, all the licenses, and all the technical infrastructure for all of those use cases, at global scale." Stay tuned for another year of growth and innovation in the North America region! 🚀 #ThisIsAdyen #EngineeredForAmbition #FinancialTechnology #PaymentsInnovation

ComCom sees potential for over $250m reduction in payment fees for New Zealanders The Commerce Commission is consulting on the potential to reduce hundreds of millions of dollars a year in costs to New Zealanders using the Mastercard and Visa payment networks – affecting nearly all consumers and businesses. This is part of the Commission’s responsibility to promote competition and efficiency within the retail payment system – the most used financial service in Aotearoa New Zealand. Commission Chair, John Small, says consumers spend approximately $95 billion using Mastercard and Visa each year in New Zealand which costs businesses – and ultimately consumers through higher retail prices and surcharges – around $1 billion annually..... https://bit.ly/46j09VV #NewZealand #Business #Payments Via comcom.govt.au

Interchange, paid by retailers and merchants on Visa and Mastercard transactions, is the funding source for credit card loyalty programs. The Commerce Commission has outlined new options for further reducing interchange (including an extreme option of cutting it to zero). This new regulation is targetting a cut of $250m in fees paid by merchants which is more aggressive than the regulator's last cuts in 2021 which targetted a $70m reduction. 2021's cuts saw all credit card loyalty programs (including all Air New Zealand Airpoints credit cards) severely cut the value earned by customers. Submissions on the Commission's consultation paper are due by 20th August. --- 🔹Loyalty Central | New Zealand is a unit of Ellipsis & Company; the loyalty experts. 🔹Sign up here for Loyalty Central's monthly loyalty market update, a "just the facts" summary of all the news (including this piece) https://lnkd.in/gmQUU6KF

As #commerce in the region evolves rapidly, #innovative and #flexible solutions are needed to meet the changing needs of the market. With products like the Visa Installments Solutions and Request to Pay, Visa is empowering financial institutions with the tools they need to cater to the demands of modern consumers. Read here https://vi.sa/3MFRrYP #VisaNavigateCEMEA 

Lazy, naïve, narrow-minded.   Three terms that are pretty harsh, but this is language I would use to sum up the Consultation Paper issued by the NZ Commerce Commission last month on the NZ Retail Payment System.   The Consultation Paper fails in multiple areas including:        i.           Choosing to avoid the areas that require attention (excessive surcharging & pricing clarity for merchants), classifying them as “too hard”,      ii.           Makes statements that are counter to delivering fair competition and an even playing field, and    iii.           Displays little understanding of how organizations within the payments ecosystem operate and make decisions   It is a public consultation, so I will be providing the NZ Commerce Commission with a more fulsome response supporting my summary comments. This is unlike the Consultation Paper which is loaded with broad statements that are provided with little to no information to support the statements.   Whilst the first pass at payments regulation in NZ was driven purely by the political motivations of the previous government, this time around I am struggling to identify the political motivation given we are a couple of years away from an election. I am more leaning towards the team at NZ Commerce Commission trying to create work product that they can point to to justify their existence.    In focusing on reducing interchange fees for a second time and crossing their fingers that it solves for excessive surcharging the NZ Commerce Commission are seeking to create “easy” work for themselves. By the paper’s own admission, directly intervening on surcharging is hard. It is hard, but this is where the work needs to happen. In Australia, it took the RBA 10+ years of re-writing and refining their regulation on surcharging to get it to where it is today. Learn from what they have gone through.   There are multiple parties in the electronic payments value chain. By continuing to disproportionally concentrate on only one end (card issuers) and hope that it spits out the right outcome at the other end (merchants and consumers) without taking any action in the areas that are inefficient is hopeful in the politest terms.   The second area of “hope” that comes through the paper is that by reducing interchange it will somehow provide a catalyst for open banking. Hoping that one drives the other is closer to wishful thinking. By reducing the revenue in the overall payments ecosystem, how do you expect these same organizations to be more incentivized to invest millions in an alternative method of payment?   Come on NZ Commerce Commission, roll your sleeves up and focus your time on creating better tangible outcomes for NZ businesses and consumers rather than creating busy work to pad out your CVs with a theoretical “savings” number. Commerce Commission - Retail payment system (comcom.govt.nz)