The ability to securely, reliably, and seamlessly move money around the world has played a major role in the growth of ecommerce. Today, effective payments continue to play a critical role — not just as a facilitator of money movement but as a linchpin for innovation, helping companies redefine business models and build the next generation of the digital economy.
Despite these facts, many businesses are unaware of the impact of poorly-functioning payments on their bottom line. Our research showed that 31% of European businesses reported losing revenue due to payment issues. The truth is that the real number is likely much higher. Underreporting generally stems from the fact many businesses just don't know what's happening with their payments.
Unlocking new channels of commerce is another growth area where payments have a pivotal role to play. Social commerce, in particular, is trending in ecommerce.believe social commerce is the most important retail trend this year.
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