Cash economies go digital with merchant-centric benefits
Trend - The lack of digital payment infrastructure that extends to small and micro businesses is a significant challenge for businesses operating in primarily cash economies. In an effort to combat this, an increasing number of payment technology providers are establishing merchant-centric benefits ranging from loyalty programs to cost-free implementation processes.
Insight - For today's business owner, establishing secure and effective production, management, and transactional processes are crucial. This consumer is focused on benefits like cost-reduction and security in order to compete in industries that are ever-evolving and expanding with new waves of tech innovations.
Insight - For today's business owner, establishing secure and effective production, management, and transactional processes are crucial. This consumer is focused on benefits like cost-reduction and security in order to compete in industries that are ever-evolving and expanding with new waves of tech innovations.
Workshop Question - How has a move toward more digitized payment processes impacted your organization?
Trend Themes
1. Digitized Payment Infrastructure - Digitization of payment infrastructure is increasing in primarily cash economies, offering benefits ranging from loyalty programs to reduced costs through easy implementation processes.
2. Blockchain and Software as a Service (saas) Technology Integration - B2B payment service providers optimize through contemporary tech, lowering period-to-cash rates, reducing transaction costs through customized service, and new revenue paths.
3. Biometric Payment Services - Partnerships between biometric payment companies and smart card manufacturers enable seamless, convenient payment options for users across continents while ensuring privacy and identity protection.
Industry Implications
1. Payment Technology Providers - Digitized payment infrastructure and advancing technologies are key opportunities in the growing payment technology industry.
2. Financial Services - B2B payment providers that offer customized service, lowering processing rates, and allowing for revenue growth has great potential in the financial services industry.
3. Security and Authentication - Catering to the growing trend of biometric payment services, companies specializing in security and authentication solutions can disrupt the payments industry with advanced authentication methods.
7 Featured, 31 Examples:
32,545 Total Clicks
Date Range:
Mar 19 — Mar 19
Trending:
Average
Consumer Insight Topics:
