73 Million Are Already in the Connected Economy
Consumers have become accustomed to near-ubiquitous internet access to get goods and services on-demand, as well as run multiple facets of their lives. As a result, customer experiences powered by digital technology are extending well beyond shopping, impacting...
Boost Cross-Border Business Efficiency Via POPs
The digital economy enables businesses to reach customers across national borders more easily than ever before. One study found that two-thirds of eCommerce firms sell beyond their home markets, deriving 31% of their revenue from cross-border sales; other data...
How Banks Can Compete in the BNPL Space
Buy now, pay later (BNPL) is having a moment — one that won’t dissipate anytime soon. More than a fad, the payment choice that allows consumers to break up the cost of purchases into equal installments over a period of weeks or months is the fastest growing...
Using POPs to Increase Efficiency, Lower Costs
Managing cross-border payments represents a key challenge for businesses that operate and have customers in multiple countries. Regulatory and tax issues are more complex, and transactions fees are higher than with domestic payments. Payment orchestration...
New Study: Checkout Frictions Rise
The many faces of friction in the checkout experience cover a range from time spent to value-adds like free shipping and other variables that add up to good — or less good— checkouts. PYMNTS developed the proprietary Checkout Conversion Index scoring system in...
Choice and Convenience Define Consumer Payments
From swiping a magnetic strip in-person to instant orders and payment plans, many of us did not anticipate the level of rapid development that would expand throughout the payments industry over the last two years. The buying power and payments preferences once...
New Data: Failed Subscription Payments Hurt, But Don’t Have to End in Cancellation
Consumers continue to evince an insatiable appetite for subscriptions of all kinds. But millions of subscriptions are hitting a wall when payments fail to process for any number of reasons, and these declines pose a threat each time it happens, causing...
Today in Digital Banking: Plaid Simplifies A2A
Today in digital banking, MFS Africa’s acquisition of Capricorn Digital is highlighted and spurred by payments platform Baxi. Plus, Zelle and Fiserv have collaborated to bring real-time payments to minority depository institutions, and Plaid cleans up...
Driving Revenue Growth With BNPL Payment Option
Generation Z is here, and they are ready to shop — in a sustainable, budget-conscious manner. Younger consumers such as Gen Z, who now represent 40% of United States consumers, tend to make purchasing decisions by looking at the convenience, quality — and...