Merchant companies have fallen behind the retail banking and fintech industries in terms of payments innovation. A new report from ACI Worldwide and Ovum details regional differences in terms of progression along the innovation maturity curve, as well as the characteristics of organizations that are ahead of the pack.
Global payments are getting much easier for customers to transact with retailers overseas. The advent of new technologies in the checkout experience such as Apple Pay and Amazon Pay is becoming more prominent as shoppers get more comfortable with mobile commerce. Here are some of the latest trends in global payments and how they are impacting the retail landscape.
The gulf between industry policy and the practical realities of the market creates vulnerabilities and opens the door for new threats like friendly fraud and cyber shoplifting. Visa and Mastercard are stepping up to take this challenge seriously. But is it enough? What’s really needed is a consistent process across card brands.
E-wallets have slowly gained popularity in the United States and now account for 20% of U.S. payments. For merchants to offer a genuine omnichannel experience, they must engage with customers in a consistent, seamless manner across digital, physical and social media. Find out how offering local or alternate payment is one key to getting there.