Connecting the dots in payments...’s Post

Exciting use case for the recently announced Visa Installments: When shopping on Amazon.ca or the Amazon app, cardholders will have the option to select “installments by Visa” as their payment method. Amazon joins about 100 other merchants in Canada offering installments by Visa. Says Dan Iwachiw, Head of Product Visa Canada, is quoted in the article, "This provides consumers more choice and flexibility, but this is good news for issuers as well. It’s good news for processors, it’s good news for merchants. It’s all about providing a secure payment mechanism of transacting, just like any other traditional card purchase. But we’re just providing more choices for everyone in the ecosystem as a way to fulfill the desires of the consumer.” #BNPL #ecommerce #Iwork4visa

How Amazon One Poses a Threat to Visa and Mastercard (In my Opinion) Are traditional payment methods facing a formidable challenger in the form of Amazon One? 🤔 In today's rapidly evolving landscape of fintech and e-commerce, innovation is the name of the game. And Amazon One, Amazon's pioneering palm recognition technology, has emerged as a potential game-changer, not just in retail but also in the realm of payment systems. Here's why Visa and Mastercard should take notice: Seamless Integration: Amazon One seamlessly integrates payment authentication into the shopping experience. With just a wave of the hand, customers can make purchases, bypassing the need for physical cards or mobile devices. This frictionless process not only enhances convenience but also accelerates checkout times, a feature highly valued by modern consumers. Enhanced Security: By utilizing biometric data, Amazon One offers a level of security that traditional payment methods struggle to match. Unlike credit cards, which can be lost, stolen, or compromised, palm recognition provides a unique and immutable identifier for each user. This reduces the risk of fraud and unauthorized transactions, fostering trust and confidence among consumers. Data-driven Insights: Amazon's vast ecosystem generates a wealth of data on consumer behavior and preferences. By incorporating Amazon One into its payment infrastructure, the company gains access to invaluable insights that can inform targeted marketing strategies and personalized recommendations. This data-driven approach not only enhances the customer experience but also strengthens Amazon's competitive position in the market. Ecosystem Lock-in: With its expansive range of products and services, Amazon has built a formidable ecosystem that engenders customer loyalty and engagement. By introducing Amazon One as a payment solution, the company further solidifies its ecosystem, making it increasingly difficult for customers to switch to alternative platforms or payment providers. Potential Disintermediation: As Amazon One gains traction, it has the potential to disrupt the traditional roles of intermediaries such as Visa and Mastercard. By directly facilitating transactions between consumers and merchants, Amazon diminishes the dependence on third-party payment processors, thereby challenging the established hierarchy within the payment ecosystem. While Visa and Mastercard currently dominate the payment industry, they must adapt to the changing landscape or risk being left behind. In my opinion, Amazon One represents more than just a convenient payment solution—it embodies the disruptive forces reshaping the financial landscape. Visa and Mastercard must recognize the threat posed by this innovative technology and respond accordingly to safeguard their positions in the market. #AmazonOne #PaymentInnovation #Fintech #Visa #Mastercard #DigitalTransformation

💲The Most Popular Payment Methods Worldwide 📊 Using data sourced from BuiltWith Merchant Machine analysed the Most Popular Payment Methods Worldwide. 🌍 Visa is the most popular payment option in 67 countries, but PayPal is not far behind (top in 63 countries). Interestingly, on those continents where PayPal does come first, Visa always ranks second, but North and South America’s second most popular options, respectively, are Mastercard and American Express. Despite the domination of Visa and PayPal, they aren’t the only payment methods out there. Payment Services of Apple, Amazon and Google are among the Top Ten Methods Worldwide. 🍎 Apple's payment service claims a 7.37% share of the global market, demonstrating its widespread use. 📦 Amazon's payment service holds a 6.04% share, underlining its popularity among online shoppers. 🌐 Google's payment service has a 4.3% market share, making it a commonly chosen option. 🛒 E-commerce Platforms: Shopify (5.17%) and Stripe (3.89%) are also prominent, contributing to the diversity of payment options. 💰 Peer-to-Peer Transactions: Venmo, with a 2.61% share, is a go-to choice for peer-to-peer payments. Good read, source 👉 https://lnkd.in/eaasuw-6 🛍️💳 Which payment method do you personally prefer when shopping online and why? #banking #amaiz #BusinessBanking #BusinessBankAccount #business #bankaccounts #bankingsolutions #masscardissuing #virtualcards #PaymentMethods #Visa #PayPal #MasterCard #AmericanExpress #ApplePay #AmazonPayments #GooglePay #TechGiants #Ecommerce #DigitalPayments #FinancialTechnology

Great to see this launched in Canada! Looking forward to seeing this partnership between Visa and Amazon rolled out across the world. #Flexibility was in fact one of the key payments features required by UK customers in our #FutureOfPayments report last year. Customers want choice and the ability to seamlessly split, pay later, change from credit to debit etc Visa’s innovations aim to support that, our #instalments solutions, our #flexcredential, #taptoeverything and #tokenisation, all supports increasing flexibility and choice while preserving #safety and #consumerprotection from increasing fraud and risk

There’s a small, elite group of merchants that don’t hate swipe fees (at least not as much as everyone else). We’re talking 10-15 of the largest retailers in the country, and by extension the world. That’s because they’ve negotiated sweetheart deals with Visa and Mastercard. Remember when Amazon had a spat with Visa a couple years back? Amazon levied a customer surcharge on Visa cards in Australia and Singapore, and they threatened to stop accepting Visa cards in the UK all together. Amazon was risking real harm to their reputation with end customers to prove a point to Visa — customers have deeper affinity for Amazon than they do for the network logo on the front of their credit card. Amazon was willing to take these risks because the prize was massive. They wanted to secure a better, exclusive global deal on swipe fees. As a result, Amazon pays a swipe fee on Visa transactions that’s well below 1%. Compare that to the average of 2-2.5%+ that every other merchant pays. The next time you read headlines about Visa and Mastercard increasing fees across their networks, just remember that the biggest players have secured special exemptions for themselves. Hardly seems fair .. because it isn’t.

In the digital age, online payments are the lifeblood of business. 💰 But here's the reality: They're also alarmingly vulnerable to technical hiccups. 🚀  💰CX Monitoring detected issues with PayPal leading to failed sessions, frustrated customers, and a $120,000 monthly loss  💰CX monitoring detected Apple Pay certificate expired resulting in revenue loss to the tune of $200,000  💰CX Monitoring detected Amazon Pay not working resulting in $25,000 lost revenue    To learn more contact Nikola Santrac for a Demo. #payment #monitoring #salesforcecommercecloud #ecommerce #performance #revenuegrowth 

Consumer preferences and merchant adoption often don't match when it comes to #OnlinePayments. While PayPal is ahead among merchants, Amazon Pay only has a 1% market share in the US and UK. In contrast, according to Stocklytics.com, #AmazonPay is the fifth most popular payment option among shoppers, just behind PayPal, Google Pay, Apple Pay, and Visa Checkout. Find out more: ➡️ https://lnkd.in/ew8QpP_4

In the digital age, online payments are the lifeblood of business. 💰 But here's the reality: They're also alarmingly vulnerable to technical hiccups. 🚀  💰CX Monitoring detected issues with PayPal leading to failed sessions, frustrated customers, and a $120,000 monthly loss  💰CX monitoring detected Apple Pay certificate expired resulting in revenue loss to the tune of $200,000  💰CX Monitoring detected Amazon Pay not working resulting in $25,000 lost revenue    You can contact me for a Demo if you want to learn more. #payment #monitoring #salesforcecommercecloud #ecommerce #performance #revenuegrowth Splunk valantic Customer Experience valantic Salesforce Commerce Cloud

💸 Popular Payment Options by Continent 💸 The online shopping landscape is constantly evolving, and so are the payment options available to consumers. A recent study by Merchant Machine analyzed payment methods in 133 countries to determine global preferences: 💰 PayPal and Visa are the most popular payment options globally. PayPal dominates in Africa, Asia, Europe, and Oceania, while Visa is the top choice in North and South America. 💰 Buy Now, Pay Later (BNPL) options are on the rise. Klarna is the most popular BNPL option in 50 countries, but Africa prefers PayJustNow and Oceania Afterpay. 💰 Tech giants are also gaining ground in the payment space. Apple Pay, Amazon Pay, and Google Pay are all popular payment options, with market shares of 7.37%, 6.04%, and 4.3%, respectively. #payments #fintech #bnpl

Let's talk #payments and cart #abandonment for a minute ... As an #eCommerce #retailer, are you seeing a high cart abandonment rate (if you aren't aware of your abandonment rate, you should be)? Confused why a customer would go all the way through the process of selecting their item(s), getting to the checkout page of your site and saying ... "Ahhh, forget it" ... There are a lot of things that go into this, shipping time and commitment to delivery. It could be they genuinely changed their mind. Maybe they were just price shopping and went to buy it on Amazon (this is why your distribution strategy is so critical)? Or, maybe you didn't offer a convenient payment option for them? The silent killer of cart abandonment is that today's consumer wants to pay on their terms -- do you offer them all? Sure, you can take a standard credit card (thanks Mastercard, Visa, Discover Financial Services, American Express, et al) ... what about mobile payment options like Apple Pay? Google Pay? Shop Pay? Buy now, pay later options like, Klarna? Afterpay? How about Pay by Bank? Stop losing your hard earned customers! Radial Inc.'s Payment Solutions provides you a fully outsourced end to end solution that integrates not only domestic, but global payment options under one single integration point and a single merchant of record for all transactions. No longer worry about having to integrate with different #paymentprocessor -- as new and innovative consumer options come available you can easily make them available for your customers! Reach out to me or anyone on the Radial team to discuss how we can help!