Today In Data

New Channels, Bad Checks And Surprising Payments Partners

Paradigm shifts don’t happen often, but lately they seem to have a way of creeping up on the payments and commerce ecosystem. Checks may be losing their grip on B2B payments, consumers are going digital and competitors are becoming partners to push the ecosystem forward.

The new era of retail is upon us as the digital disruptors are quietly  but pretty completely  turning the tables, and consumers are increasingly voting with their feet (and dollars) for the omnichannel age to become ubiquitous. And it’s not just retail that’s increasingly wired up. Even the massive B2B market looks like it’s ready to throw off the shackles of the paper check (and all the fraud that comes with it). The smart move is increasingly to think differently, adaptively — and perhaps with an eye to partnerships, à la Samsung and Paypal.

$120 trillion: The value of the global B2B payments market.

71 percent: The share of businesses that report being the victim of actual or attempted check fraud.

55 percent: The share of mass merchant consumers who say they shop in both digital and physical channels.

41 percent: The share of grocery shoppers who only shop in a physical store.

$5.00: The gift balance PayPal users who link their PayPal accounts to Samsung Pay will receive.