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Alternative payment methods have become an imperative for online businesses growth. Payment gateway providers, processors and merchants need to work closely together to ensure they can address customer needs and expectations, but also deliver an optimal
shopping experience, irrespective of the channel.
As the global ecommerce landscape gets more and more complex, consumer preferences also vary by demographic, country, shopping behavior and the product or service they would like to buy. However, one constant remains the same: the alternative payment methods
offer is key for checkout conversion. 2Checkout, Stripe, G2A PAY, Authorize.Net are only some of the key players active on the market whose aim is to create a localized checkout experience for a global community of consumers.
When I was running the retail payments business in a previous life in 2007-8, there was a huge buzz around alternative payments. In the following 4-5 years, many alternative payments came and went / fizzled out / fell back on credit card rails e.g. carrier
billing, mobile wallets, Dwolla, Tempo Decoupled Debit cards, etc. While deferred credit products like BillMeLater, Klarna and Affirm have made some headway, credit card and its rails have remained the most dominant form of online payments.
Re. your opening line "...cards will fall to 41% by 2017." ICYMI, it's already March 2018.
11 Jul 2017
This post is from a series of posts in the group:
Fintech discussions and conversations around the development of fintech.