The Changing Pace of Payments: Why Merchant Payments May Never Be the Same Again

Contributor:
Joanna Hyde
Joanna Hyde

The world of retail payments has never changed so quickly. In the past few weeks, many trends we were already seeing in payments have accelerated exponentially as a result of the ongoing pandemic. The shift from in-store to online payments has been almost instantaneous; contactless transactions have soared; cash volumes have dropped drastically; automation at the POS has increased; and merchants are vying to leverage their payments arrangements to survive, and thrive, at this critical time.

As well as accelerating existing trends, the pandemic is also introducing new, unexpected dynamics. Many of these developments are by no means temporary: the impacts of lockdown restrictions and changes in consumer habits are likely to last well beyond the pandemic itself.

The European payments landscape may never be the same again – and merchants must prepare now to ensure they survive and thrive in the years ahead. To support the merchant community in taking the right steps in the short-, medium- and long-term, we’re launching a brand-new series of webinars. Providing practical guidance on next steps, as well as unique insights into exactly what trends we’re currently seeing, ‘The Changing Pace of Payments’ webinar series is your single source of everything you need to know about payments both during and after the pandemic.

With sessions focusing on the shift to online transactions; the costs associated with that shift; the new customer experience; and the payments supply chain, in this series our experts will guide you through the key challenges and opportunities in payments today and in the future.

Market-leading merchants have long acknowledged the value of payments in maximising revenue, enhancing customer satisfaction and loyalty and minimising risk. Now is the time to double down on these strategies. Our experts will highlight exactly what you should be focusing on to ensure you don’t fall behind your retail peers.

It’s almost impossible to predict exactly what will happen in the world of payments in the future, but we know one thing for sure: over the next few months, merchants will need to ensure their payments supply chains are flexible and robust; responsive and risk averse; and, most of all, productive. The retail industry can no longer afford to lose sales to poor customer experience, falsely declined transactions, and the inability to accept the right payment types.

Covered in this free, merchant-only webinar series:

Response Strategies

How to respond to the changes we’re seeing in retail today

Productivity

How to make payments more productive

Risk and How to Adapt

How the supply chain will need to adapt to retailers’ new emphasis on risk

Technology

How the payments industry can use technology to meet the needs of retailers adapting to new modes of trading

Get the recording of each session by clicking the titles below:

The Ecommerce Catalyst: Adapting Your Payments for an Online World | Tuesday 19th May | 2pm BST

From In-Store to Online: Managing Costs in a New Payments Landscape | Tuesday 2nd June | 2pm BST

The Power of Payments: Retailing Anytime, Anywhere, in Any Way | Tuesday 16th June | 2pm BST

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