Small- to medium-sized (SMBs) are the backbone of the American economy: 30.7 million SMBs operate across the country and account for 64 percent of new jobs. They represent 99.9 percent of all businesses in the U.S., but they face many hurdles. The U.S. Bureau of...
Digital-first businesses that need capital as a cushion for lumpy cash flow find tapping their banks for funds can be tedious and slow, says Abe Shak, CEO of accessories retailer The Time Store. In this month’s Payments Powering the Platform Economy Report, Shak explains how...
The global eCommerce market is a juggernaut, containing up to 24 million sellers and 2 billion digital buyers, with sales expected to reach $4.13 trillion in 2020. These staggering figures belie the challenges faced by smaller industry players, however, with only 35 percent of small-...
As virtual marketplaces displace (and replace) the physical variety at a dizzying pace, payments speed and security are paramount concerns. When transactions and payments occur cross-border, those concerns are doubled. Companies want and need more visibility into cross-border payments, and with the blastoff of eCommerce...
Many shoppers who make purchases online rely on eCommerce marketplaces to discover items and connect with trusted sellers. Fifty-eight percent of worldwide eCommerce transactions were made using these platforms in 2018, for example, and consumers have since become even more accustomed to them. Platforms that...
Work from home opens the virtual doors for gig workers and employers in need of help, including beyond their national borders. Shany Malbin, director of payments at gig platform Fiverr, says that can get tricky when it comes to compliance, fraud and other payments complexities....
The eCommerce marketplaces have been a lifeline for businesses and consumers who want to transact under stay-at-home orders and while safely social distancing. These marketplaces need to have strong security approaches in place, however, to ensure they do not accidentally onboard any fraudulent sellers or...
Selling online requires diverse, comprehensive payment approaches that fit each market in which merchants wish to transact. Consumers in the U.S. tend to prefer credit cards, for example, while 71 percent of China’s eCommerce sales are conducted with digital wallets and 21 percent of online...
When it comes to appeasing cross-border shoppers, a one-size-fits-all approach can fall short. Winning over customers worldwide requires merchants to offer a secure, localized payment experience — which is no easy task, according to Kai-Uwe Mokros, payments managing directors at fashion eTailer Zalando. In our...
