DORA, the Digital Operational Resilience Act, is a regulation with a goal to ensure that all participants in the financial system have the necessary resources to mitigate cyber attacks and recover from disruptions associated with fraudulent activity. While this piece of legislation is still in the making, it’s expected to get the final approval already by the end of 2022.
If you conduct business on the European continent, you have definitely dealt with SEPA transactions. This money transfer service once revolutionized the payments landscape across a number of Euro and non-Euro countries by creating a unified network in place of a fragmented ecosystem.
Buy Now, Pay Later (BNPL) is one of the biggest eCommerce trends that has gained impressive prominence over the past few years. While being an accessible way for consumers to acquire products that otherwise would have been difficult to afford, it has also raised concerns regarding the inability of some people to cover the loans they take out.
Account-to-account (A2A) transactions are swiftly overtaking cash and bank cards and are predicted to comprise 20% of global eCommerce payments by 2023. Seizing the A2A momentum requires an understanding of the latest developments related to this payment method and its perspectives in the international market.
The major shifts in the retail landscape, payment habits, and consumer behavior that arose during the pandemic are expected to continue solidifying their presence in 2022 and onwards. For merchants, this calls for agility to stay on top of emerging trends and insightfulness to understand how to make the most out of them.
Over 4% of all online purchases in the world are conducted via QR codes, and we are sure to see this figure grow in the upcoming years. Already by 2025, 29% percent of mobile users across countries are forecasted to be using this payment type, with the global transaction volume expected to reach $2.7 trillion.
Nowadays, nearly every social network offers its users an opportunity to make in-app purchases. This type of shopping is gaining popularity fast - 98% of consumers are planning to place at least one order using social media in 2022, a giant leap compared to 68% from the year before.
We live in an age when technology evolves at an unprecedented pace, accompanied by impactful global events and dramatically shifting consumer preferences. Such dynamics make merchants, financial institutions, PSPs, and industry experts ponder what the payments landscape will look like in the years to come.
The modern pace of life dictates the need for instant cross-border money transfers. Real-time payments (RTP) play a pivotal role in catering to this demand, as they are settled in a matter of seconds from the moment of initiation.