While cash and paper checks remain prominent in some countries in the Asia Pacific, the convenience of digital wallets and other novel payment methods is increasing the popularity of alternative transactions. In fact, in 2023, APAC recorded the highest paperless payment value globally, amounting to over $29 billion and representing 52% of the worldwide share.
The steps through which a consumer goes from discovering and purchasing a product to receiving and using it is called the customer journey. While each of the stages of this process is important, the payment phase must be on top of the business priority list. After all, if the checkout doesn’t flow smoothly, it is likely to result in cart abandonment and, consequently, loss of profit for the merchant.
In many cases, the financial industry tends to focus on two opposite sides of the business spectrum: small firms and large enterprises. While both of these organization types deserve the attention they receive, there is another segment with its own peculiarities and unique needs that often seems to be left out - mid-market companies.
If you are involved in commerce, you are very well aware of the dynamic nature of the payment landscape. After all, things like customer preferences, fraud threats, tech solutions, and regulations keep changing all the time, creating an environment that is full of opportunities yet may be difficult to navigate.
In recent years, the payment landscape in the United Arab Emirates (UAE) and the broader Middle East region has been experiencing a significant transformation. While this process may seem like a consequence of technological progress alone, its roots go deeper and are related to cultural nuances, shifting consumer preferences, and strategic governmental efforts.
To effectively navigate the dynamic world of iGaming, both operators and players must always be ready to adapt to new trends swiftly. Staying up to date is particularly important when it comes to payments, as they often shape the industry’s evolution trajectory. After all, the ease and efficiency of fund transfers directly impact player satisfaction and retention rate.
The Southern European financial landscape has long been characterized by fragmented and unsynchronized mobile money transfer services. Yet, a recent development promises to reshape this reality! At the end of 2023, Spain’s Bizum, Italy’s Bancomat, and Portugal’s SIBS signed a letter of intent to join forces and promote the interoperability of their respective mobile payment solutions.
If you are involved in the fintech scene, you have probably heard about the pan-European plan to introduce the digital euro in the foreseeable future. This is big news for the industry, as it is not just another technological milestone - it’s a major leap toward integrating digital currencies into mainstream financial systems and reimagining the way we conduct payments.
In the modern European payments landscape, staying compliant with the latest regulations is a key priority for businesses. After all, it isn’t just about ticking boxes - it is about ensuring transaction security and building a fault-free reputation. However, keeping track of the rules and guidelines can be a challenging task due to the pace at which they are changing.
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