September 21st 2020
A Broken Payments Market: Why the Shift to Online is Costing Merchants Billions
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.