A Broken Payments Market: Why the Shift to Online is Costing Merchants Billions

21st September 2020
Contributor:
Toby McFarlane
Toby McFarlane

One of the key trends to emerge as a result of the COVID-19 pandemic is the movement in spend away from in-store, towards online.

For many consumers the pandemic may have been the catalyst for their first ever online shop, while for those more familiar with eCommerce spending, COVID may have prompted a shift from buying some things online, to buying almost everything online. The merchant experience is similar: many merchants have had to pivot to online selling for the first time, while others have been able to seamlessly shift focus towards their online channels. What both sets of merchants have had to face, however, is the significantly more complex landscape of online payments: a landscape that is now more important than ever.

Retail the Full Article Below:

A Broken Payments Market – An Article From CMSPI

You Might Also Be Interested In These...

Resources
03.11.2021
VIDEO: Are You Considering All the Cogs in Your Payments System?

The payments landscape is extremely complex. Merchants, are you considering all the cogs in your supply chain?

Read More >
Blogs
03.08.2021
COVID-19: The Catalyst That Put Payments at the Top of the Agenda for Merchants

The COVID-19 pandemic has proved to be a huge catalyst for change. In this article, we identify and analyse three main areas in which we’ve seen change in merchant payments.

Read More >
Blogs
12.14.2020
Fashion Industry Focus (Part 2): How a Bad Payments Experience Can Put Off Good Customers

CMSPI’s work shows that a scientific approach, coupled with the right outreach to issuing banks, can maximize approvals and boost merchants’ revenue significantly.

Read More >
Blogs
12.14.2020
Fashion Industry Focus (Part 1): The Spiralling Cost of Online Payments

In this first blog, we have selected three (of the many) factors that impact the overall cost of acceptance: channel, routing arrangements, and refunds.

Read More >
Read more blogs from the payments experts