😊 The Paypers Analysts — on Financial Technologies for Markets and Platforms in the First Half of 2024

😊 The Paypers Analysts — on Financial Technologies for Markets and Platforms in the First Half of 2024

We start the week with interesting findings from the report on key trends and prospects in e-commerce. The study not only included horizontal platforms like Amazon but also verticals (so the results can be extrapolated to high-risk areas).

Outlook:

🔣 In 2024, global retail e-commerce sales are expected to exceed 6.3 trillion USD. Marketplaces account for the majority of online shopping worldwide.

🔣 By 2029, e-commerce will have 3.6 billion users.

🔣 Social commerce (through social networks) is dominating: by 2030, sales volume in this area will reach 8.5 trillion USD.

🔣 According to Juniper Research forecasts, between 2023 and 2028, online payment fraud will cost merchants over 362 billion USD.

Trends:

🔣 AI (Artificial Intelligence): By identifying and recommending the most popular payment methods for specific markets, G2A.COM sets priorities accordingly.

🔣 Conversion: Conversion rates are higher when purchases are made from a computer rather than a mobile device. At the end of 2023, desktop users spent an average of 159 USD per online order, while mobile orders averaged only 103 USD.

🔣 Loyalty: More and more brands and e-commerce platforms are implementing specialized programs to acquire and retain customers.

🔣 Digital Wallets continue to dominate: in 2023, they accounted for 50% of global e-commerce spending (over 3.1 trillion USD).

🔣 Preferences for “account-to-account” payments (A2A), like "Buy Now, Pay Later" (BNPL) solutions, are growing.

🔣 The trend of embedded payments, which turns the platform into a marketplace; Here, integration with multiple payment processors and the ability to transact in multiple currencies are key.
The key question is what to do with all this.

🔣 When implementing embedded payments, key challenges include regulatory compliance, technical integration, partner selection, and data security.

🔣 An Electronic Money Institution (EMI) license provides platforms with greater flexibility to retain funds within their ecosystem.

🔣 Orchestration = unification (creating payment tokens) to ensure a scalable payment flow.

🔣 The "Internet of Things": according to Hogan Lovells forecasts, by 2025, the number of devices with IoT support worldwide will exceed 75 billion. By replacing the PAN with anonymized tokens, network tokenization reduces the compliance burden of Payment Card Industry (PCI) requirements and reduces fraud risk.

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