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Transaction values continue to surge, particularly in digital commerce, projected to reach 8.49 At the same time, penetration rates and user bases across markets are expanding rapidly, reflecting a clear shift toward digitised payment methods.
From crazy numbers to transformative technologies, the stats behind todays paymenttrends are more than just impressive; theyre a roadmap to the future. Global DigitalPayment Volume Passes $10 Trillion in a Year! What It Means for You: Adapting to mobile wallet payments isnt optional anymore. trillion in 2023.
A centralised omnichannel point-of-sale (POS) system emerged as the most common Unified Commerce strategy, with 41% of merchants currently using one to streamline payments and customer experience. Of these, over 40% reported that it resulted in higher customer spend.
One recent report found that 44 percent of companies are seeking to upgrade their loyalty programs, for example, mostly to make the digital experiences they offer more engaging. One study found that 74 percent of respondents would continue using touchless payments once the crisis ends, for example. The Infrastructure Stumbling Block .
By using near-field communication (NFC), Apple Pay, and Samsung Pay services turned each company’s mobile devices into highly secure digitalpayment wallets. Instead, they can tap their mobile devices against supporting POS terminals to process their payments securely and efficiently by way of a digital wallet.
Integration into accounting and enterprise resource planning (ERP) software, point-of-sale (POS) systems , websites, and mobile apps is vital to accommodate digitalpayments and optimize the payment experience for consumers.
With comprehensive dashboards and customizable reporting tools, you can closely monitor your company’s financial health, track paymenttrends, and identify areas of improvement. This data-driven approach empowers organizations to optimize payment processing strategies and overall business performance.
The expansion of wearables into payments is supported by companies like Apple, Garmin, and Fitbit, integrating NFC technology into their products. billion in 2023, reflecting widespread adoption of contactless cards and mobile payments. billion in 2023, reflecting widespread adoption of contactless cards and mobile payments.
In Canada, a nation celebrated for its rock solid banking and financial systems, which have consistently embraced pioneering technologies, the payment landscape stands as a testament to this ongoing commitment to progress. You can also look back and review our paymenttrends of 2023.
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