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The latest white paper on payment innovations is now available

Did you know that Norway boasts the highest adoption rate of digital and mobile payments in Scandinavia and Western Europe, or that for consumers in the Middle East and Africa security concerns define their reluctance to use mobile payment technology?

In the last five years we have witnessed a revolution in payments, transforming both how consumers make purchases, as well as the opportunities available to retailers. However, with these opportunities come transformational changes in how retailers take payments. Consumers and businesses alike have a myriad of options when it comes to making payments, and these are evolving and changing constantly. From wearables and biometrics, to all manner of mobile app payments, the choices are staggering.

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Staying up to date with a constantly evolving payments landscape can be overwhelming for businesses, especially as companies compete by rapidly diversifying to maintain relevance in the market, without compromising on safety and security.

It's clear that alternative payment technology innovations, such as social payments and chatbots, mobile wallets and Artificial Intelligence, have the potential to dramatically enhance a consumer's end-to-end retail experience, and we're already seeing evidence of this in their growing popularity. A record 27% of US smartphone users used mobile pay options such as Apple, Android or Samsung Pay at some point in early 2016.

However, with new payment innovations come various challenges. From too much choice to how to know what investment to back wisely, the options often seem endless and it's therefore not surprising that retailers often suffer from a payment paralysis.

Our latest white paper 'Achieving business success in payment innovations' presents a comprehensive overview of latest payment methods and their potential to overcome challenges that retailers face in constantly evolving payment environment.

Please contact svetlana.reznikova@mastercard.com to request the white paper.

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