The great digital migration: 78% of consumers are changing payment methods

Visa’s Back to Business global study reveals small businesses and consumers, from around the world, that may initially been reluctant to adopt digital technology are now embracing it. But will this digital landscape remain in place for the future?

There’s a lot of talk, and a lot of percentages, being thrown around about how so many consumers are going digital and how so many small businesses are changing payment methods and a global study by Visa backs up the anecdotal information with research data.

The verdict: a portion of consumers and small businesses once reluctant to go digital prior to the pandemic have not only changed their payment methods, but are looking to continue the exploration of mobile and contactless payments moving forward.

Visa’s Back to Business study

The Back to Business study assessed the shift to digital commerce for consumers and small business, according to a press release. Conducted in the U.S., Brazil, Canada, Germany, Hong Kong, Ireland, Singapore and UAE, the study was directed by Wakefield Research between June 18 and June 29. For the study, 250 small business owners at companies with 100 employees were surveyed. For the consumer portion, Wakefield Research surveyed 1,000 adults age 18+ in the U.S., and 500 adults ages 18 and older in Brazil, Canada, Germany, Hong Kong, Ireland, Singapore and UAE. The data was weighted to ensure an accurate representation of adults ages 18 or older in each market. Read more…..

Have you transitioned your digital presence? Do you understand payments in the new low touch world? Is your eCommerce strategy 2021 ready?

If you answered NO to any of these questions, then you should be talking to the eCommerce specialists. It costs nothing to talk and who knows, you might walk away with a new idea. Lets Talk!

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