As consumers and commerce get much more sophisticated, payment service providers and merchants are following suit. The vaping industry will tell us a lot about this innovation and disruption, and will likely provide multiple lessons for other types of merchants. As that happens, it’s vital for retailers and other participants in the digital economy to get past buzzwords and take on new tools.
Data:
$385B: Amount spent on subscription/recurring payment services in Europe in 2018.
18: Number of U.S. deaths currently attributed to vaping.
$125B: Potential SCA-related impact on Europe’s eCommerce industry.
3-4%: Possible revenue loss for vaping merchants after deploying stronger age verification.
2: Number of additional ACH windows opened by NACHA to promote faster payments.
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