The world of technology and online business is changing all the time and at such an astounding rate. Thinking back to how things were just ten years ago, and it’s hard to believe how far we have come. However, looking to the future, the only certainty is that everything is going to change.
As an eCommerce business, you need to make sure you’re focused on what technologies are out there and what trends could benefit your business. With this in mind, today we’re going to look into the three big payment innovations and trends you need to know and may consider implementing to your business. Let’s get into it!
1. Effortlessly Globalising Your Business
With more payment solutions behind you and the ability to accept for payments from more platforms in more currencies, you’re dramatically opening up your business up to the possibility of going global. With payment platforms like Paypal handling all the backend technology and the fact there are plenty of other payment solution providers hard at work to offer their own service, the days of having just a local market is gone.
As the years go by, this is something you’re going to want to think about and start implementing within your business, especially if you want to expand and grow.
2. Increased Mobile Compatibility
With improvements and optimisation furthering the payment markets, one of the biggest affected areas is amove. Sales happening through mobile devices is massively on the rise, with Visa reporting a huge 53% increase in just one year. With the introduction and global adoption of platforms and services like Apple Pay and Samsung Pay, this is one trend that’s going just to keep going.
As a business, whether you’re online or in a brick and mortar store, you’ll need to bear this in mind and allow your customers to have a fluid and responsive mobile experience where your customers can easily browse, shop, and make payments in the easiest way possible. Stay up to date with the latest trends and information at Journeytobillions to stay ahead of your competition.
3. A Better Experience for All
At the end of the day, and as I mentioned above, the better the experience you give your customers, the more successful you’re going to be, and this logic needs to be applied to every area of your business. In terms of payment innovation, the easier your customers can make payments, the more likely they’ll be to make them.
Whether you’re investing in payment software for your business, or looking into the latest fintech opportunities to see how you can benefit from it, never before as payment innovation and the best technology been so affordable and so easily accessible. While it can take time, energy, and resources to research into new ventures for your business, when it comes to payment solutions and your overall payment experience, there’s no denying this should become a priority.
Summary
While payment technology, especially in the realms of eCommerce, is a relatively new thing, and there is still a huge percentage of people who are still to adopt it and make it a core part of their lives, it’s safe to say we are well on our way to making it the payment standard, and you’ll need to ensure your business can keep up every step of the way.
