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Ecommerce and Contactless Payments are Driving Customer Satisfaction

The retail landscape has seen extensive changes thanks to a global pandemic and monumental shifts in the way customers shop and pay. Ecommerce transformed the industry and revenue from the transformation will only continue to accelerate. By 2023, ecommerce will account for more than $6.5 trillion in sales, representing 22 percent of all global retail sales. (Source: Statista)

 

Recognizing how customers shop online, what influences their purchasing decisions, and offering them easy ways to pay is the key to success. Now, more than ever, we are seeing mobile phones become the device for shopping. In fact, Insider Intelligence  forecasts that U.S. mobile ecommerce (mcommerce) shopping will nearly double its share of total retail sales between 2020 and 2025. Consumers expectations have changed, and they demand the same shopping experience online that they would receive in-store.

 

According to a recent PYMNTS.com report in collaboration with American Express, an estimated 57 percent of consumers prefer retailers that provide digital, contactless payment options making ecommerce an ideal way for customers to shop.

 

A solution that puts that power into the hands of both merchant and customer – with payments and communication via text and online – improves overall customer satisfaction to drive repeat shopping. Customers enjoy the ease by not needing to download an app or remember another password to a website- they just want to use their phone as a form of payment.

 

Whether it is a simple click to pay like Visa’s solution or QR code, offering more ways to pay conveniently increases revenue for merchants and happy customers at checkout. Eliminating customer friction is paramount for any business wanting to stay competitive in the modern digital world.

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