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Filming: February 24th at To Be Announced
COVID-19 has impacted many facets of consumer behaviour globally – notably the way in which people shop. Many stores across the globe have been forced to close and there are concerns about the risk of increased transmissions of the virus during cash payments. As such, the COVID-19 pandemic has proven to be a catalyst for a massive global change in payments and ecommerce.
This change is as true in regions such as the Middle East, North Africa and Pakistan that traditionally favour in-store shopping and Cash on Delivery (CoD) as it is in regions such as North America and Europe where eCommerce was already a heavily adopted way of shopping. Across the board, it’s safe to say that right now is the inflection point for payments: we’re in a new world where payments can give merchants the competitive advantage.
With Accenture expecting that as a result nearly 420 billion global transactions worth $7 trillion will shift from cash to cards and digital payments by 2023, and increase to $48 trillion by 2030, it’s time to dig deeper into what many are calling the ‘payments revolution’. In episode 1 of Embracing Changing Trends in Connected Payments: Thriving in the Post-Pandemic Ecosystem, Checkout.com brings together connected payment experts to explore the trends driving this global revolution, and to share how merchants can set out to unlock the power of connected payments.
Join us to discover:
- Key takeaways online merchants and payment providers must know about the impact COVID-19 has had on payment trends both globally and in specific regions
- The latest consumer behaviours that will inform your payments ecosystem, infrastructure and strategies going forward
- How to ensure you have a complete, granular picture of your connected payments so that you can access instant, accurate and flexible payments insights that can drive business growth
- And more
Filming: March 4th at To Be Announced
In many regions demographic diversity such as wealth, religion, nationality, gender and age all have an impact on payment and shopping behaviours. For the modern merchant, this can make keeping online payments connected across various geographies, languages and currencies tricky. But with sensitivity to local nuance around payments and ecommerce shopping behaviours vital for customer acquisition and retention, possessing the ability to act locally whilst operating globally is non-negotiable for online merchants. Never has this been more important than during and post-pandemic when payment behaviour has significantly shifted.
In episode 2 of Checkout.com’s Embracing Changing Trends in Connected Payments: Thriving in the Post-Pandemic Ecosystem, we’re looking at how merchants and payment providers can react to these shifts by providing regional, tailored payment methods such as local cards, Alternative Payment Models (APMs) and digital wallets.
Join Checkout.com and a panel of connected payments experts as they explore these methods and:
- The essential existing and emerging local nuances in regions such as North America, Europe, MENAP and APAC that payment providers need to know – and why
- How to create exceptional Customer Experiences by embracing new nuances
- Best practices for providing and optimising accessible connected payments at a local and regional level
- What the foundations of an effective, local payment partnership look like in different regions – strategically and technologically
- And more
Filming: March 11th at To Be Announced
Consumer payment behaviour across the globe is being redefined as a direct result of the pandemic. With many non-essential stores closed and cash payments carrying the risk of an increased transmission of the virus, increased numbers of people are choosing to shop online. As consumers have been getting more acquainted with ecommerce retail, there has also been a positive shift in sentiment towards digital payments, with 81% of respondents to a Checkout.com survey saying they trust the safety and security of online payments,
However the work is not done. The cost of false declines to merchants and the digital economy is enormous, and online merchants and payment providers must continue to increase consumers’ trust in their solutions by optimizing payment authorisation. Only 33% of MENAP consumers surveyed by Checkout.com said they are willing to retry following a false decline and although 52% of consumers in the UK, France, Germany and the US will retry, research by Oxford Economics found that in 2019 false declines cost these countries’ markets $20.3 billion. $12.7 billion went to competitors – and $7.6 billion was entirely written off.
In episode 3 of Checkout.com’s Embracing Changing Trends in Connected Payments: Thriving in the Post-Pandemic Ecosystem, we’re bringing together experts to discuss how merchants and payment providers can increase consumer trust in their solutions and guarantee secure transactions.
Join us to learn:
- Best practices for optimising payment authorisation across different regions
- Technologies on hand to help secure online payments, including 3D Secure
- Why data transparency and visibility throughout entire partner ecosystems is critical for building trustworthy and secure payment solutions
- How to achieve this transparency and visibility in payment ecosystem
- And more
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