Trends in electronic commerce that merchants and acquirers can’t ignore
Let’s have a look at the recent trends in electronic commerce from the perspective of both the acquirer and the merchant. Why is this important? Following trends and implementing the know-how of the industry allows acquirers to tap into new revenue streams, retain existing merchants, gain new market share and maximize the returns. From the e-commerce merchant perspective, following trends allows them to reduce their costs, increase conversion, increase sales, and improve operations. There are several important trends that have emerged recently, and will continue to develop in 2019-2020, that are affecting both the acquirer and the e-commerce merchant: Acquirers are actively tapping into transactional banking services This trend has emerged on the liberalization of the EU banking and payments market, following introduction of PSD2 new opportunities arose for payment service providers. The notion of open banking changed the attitude of banks towards other authorized financi