Here are a few key topics discussed in the report...
Argentina’s 44 million-strong population is powering an eCommerce boom. Consumers are already comfortable shopping online and are waiting for more access and options to choose from. Merchants looking to tap into the Argentine market would do well to establish and build on what locals already prefer and capitalise on the convenience benefits of eCommerce.
Biometrics are set to spell the end of passwords. The fundamental goal of authentication is to prove that a person is who they say they are. Biometrics will become increasingly relevant as Europe mandates stronger customer authentication. Of course, just as quickly as a new technology evolves, fraudsters are hot on its heels trying to find ways of bypassing more advanced security checks, and biometrics is no different.
Silver Surfers are also adding to the Global Payments Markets. Older consumers are often overlooked by merchants who continue to focus on attracting millennials. As lifespans extend and seniors start to make up an increasing percentage of the global population, eCommerce merchants will need to focus on this booming business opportunity.
Bank Transfers are proving the most interesting both in terms of their growth and technological evolution. They’re forecast to become the second most popular payment method globally by 2021. Bank Transfers are an attractive option for online merchants, as there is generally a lower cost of payment acceptance than for payment cards. Convenience is also driving the adoption of bank transfers for eCommerce payments in the developing world.
Subscription services are more common among consumers than ever. As people’s lifestyles become more complex to manage, subscriptions save time for more important matters. Recurring billing provides a steadier flow of income and helps retailers build a longer term relationship with customers, and gather insights on how demands and preferences change over time.
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