Retailers Enhance Digital Capabilities With Payments

Retailers are facing pressure to offer digital payment options to meet shoppers’ demand for digital-first commerce. Many consumers are interested in using secure, contactless payment methods in-store, while a number of them would actually decline to pay without them. And adding payment integrations has become a go-to enhancement for a number of retailers, as they double down on digital capabilities to convert digital-first shoppers. All this, Today in Data.

Data:

74%: Year-over-year increase in remote retail transaction volumes in March 2020.

57%: Share of consumers for whom digital payment options would impact shopping decisions.

$42.9B: Projected size of the global payment gateway market by 2025.

11: Number of months the average consumer expects the pandemic to last.

$3.13: Amount the average merchant pays for every dollar lost to fraud.

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