The entire infrastructure of payments is undergoing massive shifts and transformation. Although already growing in recent years, the most recent catalyst forward was the outbreak of the pandemic. Merchants worldwide pivoted their business operations overnight to survive the lockdowns. More consumers were reluctant to go into stores and preferred to…
The COVID-19 outbreak has delivered many valuable lessons to the banking industry. The most critical was that current digital platforms must be carefully scrutinized against consumer demand. Specifically, if a customer needs to perform a certain function and they are unable to because the platform is unable to fulfill that…
As part of doing business online, merchants have found themselves facing an ever-growing adversary…the chargeback. Launched more than forty years ago as a consumer-protection mechanism when credit cards were still in their infancy, these “forced payment reversals” have become a thorn on merchants’ sides. Not to mention a looming threat…
Today’s modern pace of life has driven more customers to make their purchases online. Even now, with the current pandemic, cautious customers concerned for their health and safety have also taken to online shopping, many for the first time. Due to the pandemic and subsequent closures of brick and mortar…
If you are considering launching an e-Commerce business, know that you are entering a highly lucrative market. So lucrative that in 2019, e-Commerce sales were expected to hit $3.45 trillion worldwide. Online retail has its perks. Customers are drawn to the convenience and the sheer number of products available that…