{"id":28248,"date":"2024-12-19T08:45:41","date_gmt":"2024-12-19T16:45:41","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=28248"},"modified":"2024-12-19T08:47:30","modified_gmt":"2024-12-19T16:47:30","slug":"payment-stats-that-will-blow-your-mind-and-change-your-strategy","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/payment-stats-that-will-blow-your-mind-and-change-your-strategy\/","title":{"rendered":"Payment Stats That Will Blow Your Mind (and Change Your Strategy)"},"content":{"rendered":"\t\t
It’s the end of 2024 and the payments industry isn\u2019t just evolving \u2014 it\u2019s undergoing a seismic shift that\u2019s changing how the world does business. From crazy numbers to transformative technologies, the stats behind today\u2019s payment trends are more than just impressive; they\u2019re a roadmap to the future.\u00a0<\/p>
Whether it\u2019s the meteoric rise of mobile wallets<\/a> or the staggering costs of abandoned carts, these insights reveal opportunities that can redefine your strategy.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t The global volume of digital payments will reach over $10 trillion by the end of 2024, a sharp increase from $8.3 trillion in 2023. This explosive growth is fueled by the rapid adoption of e-commerce, contactless payments<\/a>, and fintech innovations.<\/p> What It Means for You:<\/strong> If your business isn\u2019t already equipped to handle digital payments, you\u2019re missing out on a massive opportunity. Implementing a seamless payment experience, such as mobile wallet support or QR code payments<\/a>, can significantly enhance customer satisfaction and sales.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Mobile wallets like Apple Pay, Google Pay, and Samsung Pay<\/a> have become household names. In 2024, they\u2019re expected to account for nearly a third of all global transactions. This trend is especially prominent in Asia-Pacific, where mobile wallets dominate over 50% of the payments market.<\/p> What It Means for You:<\/strong> Adapting to mobile wallet payments isn\u2019t optional anymore. Ensure that your point-of-sale (POS) systems<\/a> and e-commerce platforms are optimized for mobile transactions. This not only meets customer expectations but also reduces friction in the checkout process.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Cryptocurrency<\/a> is no longer just for tech enthusiasts. Over 420 million people globally own cryptocurrencies, and businesses accepting crypto payments grew by 70% in the past year. This growth is driven by increased consumer demand, lower transaction fees, and enhanced cross-border capabilities.<\/p> What It Means for You:<\/strong> If you cater to tech-savvy or international customers, consider accepting cryptocurrency. Some payment processors make it easy for businesses to integrate crypto payments, helping you stand out and attract a new customer base.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Cart abandonment remains a massive issue, with 70% of online shopping carts left unpurchased. The primary culprits? Complicated checkout processes, unexpected fees, and lack of payment options.<\/p> What It Means for You:<\/strong> Streamline your checkout process. Offer multiple payment options, provide clear pricing upfront, and ensure your site is mobile-friendly. Leveraging tools like one-click checkout or buy-now-pay-later (BNPL) services can also reduce abandonment rates.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Today\u2019s customers demand consistency across all touchpoints. Whether they\u2019re shopping in-store, online, or via an app, they expect the same ease and flexibility in payment options.\u00a0An omnichannel payment experience ensures that customers can seamlessly make payments across all sales channels\u2014whether in-store, online, or via mobile apps\u2014while enjoying consistent and convenient payment options.<\/p> What It Means for You:<\/strong> Invest in an integrated payment system that works across all channels. Partnering with a payment processor that supports omnichannel capabilities will not only improve customer experience but also provide valuable insights into purchasing behavior.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Time is money, and contactless payments are proving to be the fastest payment method available. On average, a contactless transaction<\/a> takes just 15 seconds, compared to 30 seconds for traditional card payments.<\/p> What It Means for You:<\/strong> Enable contactless payments at your checkout counters. This small change can speed up transaction times, reduce queues, and enhance customer satisfaction, especially in high-traffic retail environments.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Buy-now-pay-later services<\/a> like Klarna, Afterpay, and Affirm are changing the way people shop. Over half of consumers now say they prefer retailers that offer BNPL options, particularly for purchases over $200.<\/p> What It Means for You:<\/strong> If you sell high-ticket items, integrating a BNPL option can increase conversion rates and average order values. BNPL is especially popular among younger consumers, making it a must-have for businesses targeting Millennials and Gen Z.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Payment fraud<\/a> is a growing concern, with global losses expected to hit $41 billion in 2024. Common types include card-not-present fraud, phishing attacks, and identity theft.<\/p> What It Means for You:<\/strong> Work with a payment processor that prioritizes security. Look for features like tokenization, PCI compliance, and AI-powered fraud detection to protect your business and customers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t The subscription economy shows no signs of slowing down, with recurring billing<\/a> models growing at an annual rate of 20%. Consumers love the convenience of subscriptions for everything from streaming services to meal kits.<\/p> What It Means for You:<\/strong> If applicable, consider adding a subscription-based product or service to your offerings. Ensure your payment processor supports recurring billing to provide a hassle-free experience for subscribers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Businesses worldwide recognize the importance of staying competitive in the payments landscape. Nearly three-quarters are investing in payment innovations like AI, blockchain, and real-time payments<\/a>.<\/p> What It Means for You:<\/strong> Don\u2019t get left behind. Stay informed about the latest trends and technologies in payments. Partnering with an innovative payment processor can give you a competitive edge and future-proof your business.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":" It’s the end of 2024 and the payments industry isn\u2019t just evolving \u2014 it\u2019s undergoing a seismic shift that\u2019s changing how the world does business. From crazy numbers to transformative technologies, the stats behind today\u2019s payment trends are more than just impressive; they\u2019re a roadmap to the future.\u00a0 Whether it\u2019s the meteoric rise of mobile […]<\/p>\n","protected":false},"author":5,"featured_media":28266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[44],"tags":[],"class_list":["post-28248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-payments-market"],"yoast_head":"\nGlobal Digital Payment Volume Passes $10 Trillion in a Year!<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Mobile Wallets Account for a Massive 30% of Global Transactions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Cryptocurrency Payments Grow by 70% Year Over Year. A Lot of Movement in Crypto.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Abandoned Carts Cost E-Commerce $4 Trillion Annually in Lost Revenue<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
90% of Consumers Expect a Seamless Omnichannel Payment Experience<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Contactless Payments Are 2x Faster Than Traditional Card Payments<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
55% of Consumers Prefer Merchants Who Offer BNPL (Buy Now Pay Later)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Fraudulent Transactions Reach $41 Billion Globally<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Subscription (Recurring) Payments Are Growing at 20% Annually<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
72% of Businesses Are Prioritizing Payment Innovation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t