Global observations for your company – digital transactions

What can the global payment report say about the needs of companies and their clients in 2024? Quite a lot, actually.

Used by international corporations to anticipate payment trends in the main markets around the world, the Worldpay Global Payements Report report, the ninth year, it can also shed valuable light on the patterns and purchasing preferences of consumers, both in stores and online, which can help company Each size is implemented by fintech tools they need to capture more customer visits and increase sales.

Below are the most important conclusions from the report for 2024 and their importance for enterprises.

1. Digital wallets are the preferred payment choice.

Digital wallets dominate the payment landscape, because consumers around the world choose them above all other payment methods, online and outlets of sale. Considering the expected that by 2027 the total global value of the transaction will exceed $ 25 trillion, sellers can disappoint their customers and lose their sale if they do not accept payments using a digital portfolio.

2. Credit and debit cards are still very popular in digital portfolios and outside.

Consumers still intensively use their credit and debit cards; they just use them differently. Currently, cards support payments via “temporary” digital wallets such as Apple Pay® and PayPal®. At the same time, the value of card transactions still increases, even on very penetrated cards such as the USA

3. The global increase in electronic trade exceeds POS by over 2 to 1.

It’s no secret that people like to shop on the Internet, but the growth rate still surprises. In 2023, electronic trade reached 14.4% around the world as a percentage of all trade and it is expected that it will continue to grow, and the forecast increase in electronic trade in North America in the coming years will be 7%. The latest “basket” technology is necessary for quick and secure processing of all types of payments, and companies should go beyond their websites and explore online markets and sales channels on social media.

4. The value of pre -paid cards will exceed $ 1 trillion in 2024.

Pre -paid cards may seem to be old technology, especially taking into account the popularity of digital portfolios, but are still widely used as gift cards, general purpose cards with the possibility of topping up and methods of distribution of remuneration or government benefits. It is expected that this year the value of global pre -paid card transactions will be worth $ 1 trillion.

5. Funds remain important in the face of economic uncertainty.

Cash may no longer be a “queen”, but she is still widely used, especially among consumers who do not have a bank account and consumers with lower income, but also among consumers at all levels of income who, in the face of high inflation, use cash as a budgeting tool. Companies should look for payment solutions that allow you to track all transactions, including cash, in one place to get more complete and more penetrating business reports.

So what are your chances for 2024? The Global Payments Report report indicates that the acceptance of digital portfolios, electronic trade development, innovations in the field of pre -paid cards and better cash management are just some of the ways in which all kinds of companies can develop this year.

To obtain additional information, download the Worldpay global payment report today.