With eCommerce becoming the main element of physical retailers’ strategies, and the COVID-19 pandemic shifting customers' shopping habits from on-site to online, the landscape for Connected Retail is more prospective than ever.
During the COVID-19 pandemic, the demand for digital goods and services has exploded as businesses have been forced online and customers have been shopping safely from home. Most of us experienced a much higher number of video calls that replaced face to face interaction, even birthday parties and weddings ceremonies were done via video these days. The digital conference tool Zoom experienced a huge spike in use on a single day in April, with 300 million people using its services.
Consequently, digital businesses are now reaching a critical mass, with demand coming in from new demographics and geographies, while payments are playing a critical role, enabling them to open up new markets and optimize the potential from existing customers.
So, in this blog I’ll explain the key areas for digital companies to consider, and how to reach what we call ‘peak payments conversion’.
The EU Second Payment Services Directive (PSD2) is more than just a piece of regulation. It’s an opportunity for eCommerce companies to innovate, remove friction from the customer experience and better control the data that drives their businesses.
In this article, we take a closer look at three key elements of authorization for digital goods and services companies. Read on to discover targeted actions that you can take to optimize your acquiring set-up, helping boost conversion and generate more revenue for your business.