Payments Market Watch: eCommerce

5 latest payment trends

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Payments Market Watch: eCommerce
5 latest payment trends

As more merchants are turning to their payments

strategy to accelerate business growth, many are
adopting the latest payment trends like one-click mobile
payments, embedded finance, and online bank transfers
to reduce costs and boost revenue.

In eCommerce, particularly for complex models like

marketplaces, the payment provider role has evolved
from cost center to strategic revenue driver, helping
businesses enhance customization, improve conversion,
and optimize performance with payment technology.

Here are five payments trends to watch:

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1 Mobile shopping needs
frictionless payments
Global mobile commerce sales will
reach US$4.5 trillion by 2024. By
2027 they will account for 80% of
total eCommerce.
20%
80%
80% of all online shoppers have made
a purchase using their mobile phone
in the last 6 months.
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90% believe that mobile shopping
experience needs to improve.
Making payments ultra-convenient will
increase customer satisfaction and
increase your sales.
Tips:
Optimize your payment page for mobile devices
with fast and seamless payment process
Integrate digital wallets preferred in your target
market for better conversion: ApplePay, PayPal,
AliPay and more
Speed up sales by reducing the number of
clicks to payment
Offer one-click purchases for returning
shoppers
2 Conversion optimization

eCommerce businesses lose US$18 US$260 billion of total lost

billion in yearly revenue due to cart eCommerce sales can be recovered
abandonment. with better payment journey alone.

Top reasons for customer drop-off More businesses globally transform

payments from a cost center into a
100
90% revenue generation.
80

60 55%
48%
Tips:
41%
40 Gain up to 35% conversion rate increase
by optimizing payment experience
20
Work with a payment partner who offers
0 decline recovery features and cascading
shopping re-entering costs are not complicated
pages are payment transparent checkout
too slow details process
transactions to the most relevant acquirer

Take a strategic approach to SCA – avoid

lost sales by reducing the number of times
you authenticate low-risk customers

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3 Offering wider range
of payment options

57% of all online shoppers report eCommerce is becoming increasingly

shopping internationally. borderless, making region-specific
payment methods a must for
maintaining competitive edge.

By 2028, it is
expected that Tips:

33%
Tailor your payment page to your
audience’s preferences, including local
payment methods, currencies and
languages

Work with a payment platform that has

direct acquiring in all of your target
of all eCommerce spend markets for higher approval rates
will be cross-border
Leverage instant payment options such
as Open Banking and RTP for faster sales
with zero chargebacks

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4 Network tokenization

The tokenization market is expected Network tokenization facilitates

to expand from $2.3 billion in 2021 to
$5.6 billion by 2025.
On average, network tokens can increase
authorization rates by more than 2% and
reduce occurrences of fraud by almost 30%.
more seamless and secure digital
transactions, which is expected to
fuel the market growth and higher
conversion rates.

Tips:
+2% occurrences of fraud
Integrate tokenization to ensure reduced
authorization rates the risk of data breaches and increased
authorization rates

Use tokens in a way that doesn’t negatively

impact the customer experience. E.g.
focus on higher-value transactions where
the security provided by tokens is more
beneficial

Partner with a payment provider who can

help you identify areas of improvement
with actionable reporting
- 30%

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5 Payment Orchestration (PO) = streamlined operations
and reduced costs

40% of eCommerce businesses are

already considering a PO platform to
enhance conversion rates and reduce
the cost of payment acceptance.
Tips:
Use an integrated PO provider to optimize
your entire payment stack, boost acceptance,
increase security, and capture more revenue

The PO market is set to grow from $569 million Take full control over your payment
in 2023 to $1.2 billion by 2030. ecosystem with setting your own rules for
transaction routing

Choose a payment partner that offers a

2030 $1.2 reporting tool with real-time authorization

and batch data broken down by card brand,
billion payment method, geography

Use comprehensive payment data to identify

2023 $569 why your customers fail to complete their
million purchases

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Why Nuvei?

Acquirer
Global Servicing over 600+
gateway 200 local and alternative
agnostic and technology markets worldwide payment methods

Recover
Automatically declined
150+ detect customer One-click transactions
currencies
geolocation payments using our suite of
and display the relevant for return customers recovery tools and
language and currency watch your revenue
grow

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About Nuvei:

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian

fintech company accelerating the business of clients
around the world. Nuvei’s modular, flexible and
scalable technology allows leading companies to
accept next-gen payments, offer all payout options
and benefit from card issuing, banking, risk and fraud
management services.

Connecting businesses to their customers in more

than 200 markets, with local acquiring in 45+ markets,
150 currencies and more than 600 alternative payment
methods, Nuvei provides the technology and insights
for customers and partners to succeed locally and
globally with one integration.

For more information, visit www.nuvei.com

Contact:
EMEA
APAC
LATAM
Theodore Law

NORTH AMERICA
Ella Koren

*Sources: Statista, Global Data, Baymard Institute, Shopify, The Paypers, BRC.org,
ResearchAndMarkets.com, Juniper Research, PYMNTS.com, Worldline, Truelayer

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