{$inpagemarkup}

Search News

Results: 1-10 of 692


Retail industry key recruiter of people from under-utilised sections of society

15 May 2024

A new report released on behalf of the Retail Sector Council has outlined the work that the industry is doing to create more career opportunities for people that would otherwise be... Read more…

Teacher and ice-cream store manager move from Australia to take over Halifax indie bookshop.

14 May 2024

A family of booklovers are moving from Australia to become the new owners of an independent bookshop in Halifax.
Read more…

Global Payments Report says consumer choice not just influencing but dictating the future of commerce.

14 May 2024

Worldpay’s 2024 Global Payments Report has revealed a transformative shift where consumer choice is not just influencing but dictating the future of commerce.
Read more…

Competition and Markets Authority says grocers need to prioritise accurate pricing.

13 May 2024

The Competition and Markets Authority (CMA) has called on grocers to prioritise accurate pricing following a review of the way in-store prices are displayed.
Read more…

Leicester indie retailers defend ‘special’ city centre after M&S announces closure.

13 May 2024

Independent businesses in Leicester have praised the “uniqueness” of the city and its "vibrant" atmosphere after the news that M&S was set to close drew a... Read more…

Independent shops better than big retailers at surviving COVID in the UK

1 May 2024

Small shops have been more "agile" at fighting COVID sale slumps than chain stores, according to a new report.
Read more…

Bike shops and cyclists alike urged to gear up to take advantage of Local Bike Shop Day 2024

30 Apr 2024

The UK’s estimated 7.6 million cyclists are being urged to get on their bikes on Saturday May 4th and head down to their local independent bike shop, as many prepare special activities to... Read more…

Peterborough store selling solely local products looks to expand.

29 Apr 2024

A Peterborough store stocking products solely from local entrepreneurs said it is bucking the High Street trend and looking to expand due to its success.
Read more…

BIRA launches ‘High Street Matters’ podcast for independent retailers

29 Apr 2024

BIRA is giving independent businesses across the UK a powerful new resource with the launch of its “High Street Matters” podcast.
Read more…

Tesco accused of undercutting local shops via its wholesale business.

29 Apr 2024

The Guardian has reported independent shopkeepers saying prices they pay at Tesco’s cash-and-carry arm Booker are often higher than in Tesco’s stores.
Read more…

Back to news menu

Global Payments Report says consumer choice not just influencing but dictating the future of commerce.

Posted on in Business News

Worldpay’s 2024 Global Payments Report has revealed a transformative shift where consumer choice is not just influencing but dictating the future of commerce.

carg & reader

As digital wallets and buy now, pay later (BNPL) options redefine shopping experiences, the report says that businesses worldwide are learning that flexibility and diversity in payment options are no longer just perks, but are essential for survival.

The new report also highlights the remarkable growth of digital wallets and how they have become a top preference for online transactions. Digital wallets have recently seen a significant surge, capturing 50% of global ecommerce transactions. The report says that the trend shows that consumers are increasingly seek convenience, security and speed in their transactions. Digital wallets simplify the buying process and allow users to shop across borders with ease, making them a popular choice for today’s global consumers.

The Global Payments Report also highlights how the rise of Buy Now, Pay Later (BNPL) has become increasingly significant in the retail market. As consumer spending becomes more deliberate and budget conscious, BNPL, it says, offers an attractive alternative to traditional credit, allowing consumers to manage their finances without compromising their purchasing power. This method has proven especially popular among millennials and Gen Z consumers who value flexibility and minimal financial strain.

The report says that, for retailers, the message is clear: diversifying payment options is crucial to meeting consumer expectations, and that retailers need to strategise effectively. By accepting a range of payment methods, retailers can improve customer satisfaction, expand their customer base and adapt to the ever-changing nature of global commerce.

The report finds that the use of digital payment methods will continue to grow and innovations in this area are expected to further revolutionise the retail industry. It says that businesses should take heed and seek to understand and adapt to emerging technologies and stay updated with regulatory changes.

This, it says, will help companies become leaders in the fast-evolving world of global payments, ensuring retailers can provide and process payments efficiently, using the process and platform that their consumers prefer.

Back to news menu

Useful links

If you have any other queries please contact us.