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GUEST COMMENT Five payment trends that could reshape ecommerce

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Kirsty Morris, Managing Director of Specialist Sales at Barclaycard

The Covid-19 pandemic has been the driving force behind rapid evolution in the digital payments landscape in the last two years, and with this comes a permanent change in consumer expectations around the ease and choice of payment options.

 As the lost-of-living crisis continues to squeeze finances and a possible recession threatens to follow, merchants must ensure they are catering to the changing needs of consumers in order to retain customers. To help merchants during this challenging time and ensure they stay ahead whilst levelling-up payment infrastructures, Kirsty Morris shares five payments trends that they should be aware of, and consider implementing if they haven’t already:

  1. The rise of digital wallets and virtual cards

Digital wallets have increased in popularity over the last couple of years as they give users greater flexibility and convenience, offer better security, and are easy to use with other exciting digital payment methods are on the horizon too, including virtual cards. Juniper research predicts that digital card transactions will increase by 370 per cent globally in five years due to their simplicity, so it’s worth merchants bearing this in mind when reviewing the payment options.

  1. Offer an omni-channel experience

Providing an omni-channel experience for customers essentially combines the highlights of face-to-face shopping with the ease and convenience of eCommerce. Merchants must offer their customers multiple channels through which to do business with them, both online and in store, tailored to their individual needs.

  1. Ensure Strong Customer Authentication compliance

In March this year we saw the introduction of new mandatory Strong Customer Authentication (SCA) regulations that mean all online transactions over £25 are now subject to additional identity checks to help combat fraud. To ensure sales aren’t affected, merchants need to be certain they understand and are compliant with the changes which can help them take advantage of strategic SCA exemptions and keep their checkout processes frictionless.

  1. Balance face-to-face vs eCommerce payments

It’s no surprise that eCommerce payments rocketed during the national lockdowns, but as restrictions continued to ease so did the demand for face-to-face payments. In an increasingly digital world, it’s imperative that merchants work on enhancing their digital footprints to complement their physical operations.

  1. Choose regulated Buy Now Pay Later options

Buy Now Pay Later (BNPL) finance options are becoming increasingly common with customers in younger demographics and those affected by the rising cost-of-living, using them frequently. Merchants must be aware that not all forms are BNPL are faced with stringent regulations which can in turn increase the consumer risk of finding themselves in unmanageable debt, and should be selecting a provider that protects customers.


Kirsty Morris, Managing Director of Specialist Sales at Barclaycard

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