Supercharging Transaction Productivity: 5 Common Payment Myths
The COVID-19 pandemic forced many consumers towards digital channels for their purchases - be that online, in-app, or via digital wallets. That led to a huge uptick in ‘Card Not Present' volumes, supercharging a pre-pandemic trend and creating a role for ecommerce that is here to stay.
The Card Not Present supply chain can often feel like a broken system: one that is complex, fraud prone, and permeated by misaligned incentives. As a result, merchants have devoted more and more energy to approval rates, fraud mitigation, and getting customers through the checkout. Unfortunately, all of that complexity can mean that lots of good customers are still turned away. That’s why CMSPI thinks in terms of transaction productivity – or the gross profitability of each transaction.
In this white paper, we break down 5 common myths that prevent retailers from making their payments more productive and how merchants can have both higher revenue and lower cost without compromise.