article thumbnail

Merchants Are Losing Billions to Failed Payments. Here’s How to Fix It.

Retail TouchPoints

Every year, failed payments cost merchants an estimated $118.5 Ecommerce businesses, for example, experience false decline rates as high as 10%, meaning that legitimate transactions are mistakenly rejected, costing merchants $443 billion annually in lost sales. billion globally. In some sectors, the damage is even worse.

article thumbnail

Resilience is Key as Payments Acceptance becomes Mission-Critical

Retail TouchPoints

Consumers now prefer digital payment options, with cash usage declining in all major economies. Cards have become by far the most popular payment method, with contactless now accounting for most purchases made at retail stores. Equally, the terminal app should have been designed to support alternative transaction processing flows.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Addressing Emerging Threats to Mobile Payments: Securing Ecommerce Through SDK Protection

Retail TouchPoints

The rapid adoption of mobile apps has led to a similar boom in mobile commerce, leading mobile brands to quickly adopt payment Software Development Kits (SDKs) to add functionality quickly and efficiently. This evolution in attack techniques is driven by the growing complexity of payment systems and the increasing use of mobile commerce.

article thumbnail

The Six Trends Quickly Reshaping the Payments Industry in 2025

Retail TouchPoints

There’s never been a more exciting time in the world of payments. Whether you’re a global retail chain, ecommerce brand, or online marketplace, changes in the payment landscape will have a profound impact on your business. Here are six important trends you can’t afford to ignore: 1. billion in 2025 to $911.8

article thumbnail

Gen Alpha Is Coming: How to Prepare for the Next Generation of Payment Preferences

Retail TouchPoints

A new generation is quietly but steadily beginning to influence the future of retail, yet many merchants have yet to take notice. As they move closer to adulthood and gain spending power, their expectations around payments will be higher, faster and more digitally integrated than anything retailers have encountered before.

article thumbnail

Why industry groups say the RBA’s payment reforms are a ‘mixed bag’ for retail

Inside Retail

While the reforms aim to simplify payment processes and increase transparency, some industry groups say they risk obscuring the true cost of card payments by embedding fees into the product price, making it harder to compete in an already margin-tight environment. billion annually. billion annually.

article thumbnail

Holiday Shopping Trends and Payments Innovations: Experience as Competitive Advantage

Retail TouchPoints

Payments technology is central to the shopping experience. During the holiday rush the security and ease of the payments experience can be as crucial as product price or availability. How can retailers update their payments systems to meet rapidly changing consumer behavior during peak demand?