Customers are using new technologies to alter the ways they interact with their physical and digital worlds – and they assume businesses will keep pace.
Their expectations of personalized service, fast response times, and fluid shopping experiences across online and in-person spaces also apply to payments. Customers want secure, frictionless, quick, and easy mobile payment options that are accessible whenever and wherever they’re shopping.
Download our comprehensive ebook to learn how payments can be a strategic part of your revenue growth.
Mobile phones are staples of our daily lives. And the time we spend using mobile devices to purchase goods and services grows each year. In fact, mobile sales are expected to reach $3.4 trillion and 62% in 2027.1 With so many customers shopping on smaller mobile screens, businesses need to optimize for a friction-free mobile experience. Big gains in conversions and repeat customers could result from:
Despite growing e-commerce sales, businesses still face high levels of cart abandonment. One key to driving conversion is removing barriers and creating friction-free checkout process.
Both businesses and customers trust PayPal:
As businesses work to make checkout easier for customers, they may also be easing the way for bad actors to commit fraud. Fraud and chargebacks cost businesses time and money and are potentially damaging to your brand. And as your business grows, you may also see your chargeback volume grow. This is why fraud management tools are essential to flagging as many fraudulent transactions as possible – without affecting the checkout experiences of good customers.
Try leveraging machine learning – powered by the right high-quality data – to help intelligently manage fraud and minimize chargebacks. And consider a dispute automation system, which can help you centralize dispute management, decrease operational costs, optimize win rates, and ultimately enable you to scale with a growing transaction volume.
PayPal has the insights, experience, and technology to help you confidently handle what’s next.
When your business aspires to grow in an evolving payments landscape, you need to be ready for what’s next. This could mean expanding to new regions, or increasing digital or in-person channel capabilities to offer a unified shopping experience so that customers can move seamlessly between online and in-store shopping. Whether you do one or both, you should orchestrate growth efficiently in ways that don’t intrude on a smooth customer interaction, and ensure shoppers always have the same great experience with your brand.
To succeed in a new market, aim to offer locally preferred payment methods and relevant third-party services. But instead of connecting with many local payment processors in each new region, maximize one connection with a payments orchestrator or PSP to orchestrate growth efficiently. The same goes for payouts. Work with a PSP that maintains established relationships in different regions to pay sellers quickly through local banks and avoid cross-border fees. The right payment service provider (PSP) can help make sure you’re covered for today and ready for tomorrow.
After taking a fresh look at the payments landscape, are you ready to elevate your business with an integrated, data-driven payments solution?
Download our ebook to learn how PayPal can help your business adapt to evolving customer preferences and take advantage of growth opportunities.
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