JCB
JCB, with the support of Worldline, a global leader in payment services, has launched a new whitepaper aimed at empowering European merchants to explore the opportunities and tackle challenges surrounding frictionless payments. Merchants will be able to benefit from improved customer loyalty and, ultimately, revenue by applying some of the practical steps listed, within this guide. This, in turn, will positively impact international consumers, as their payment experience will be simpler and more streamlined, giving them more confidence to shop with international brands.
The volume of non-cash transactions market is expected to continue its upward trajectory, with digital and mobile wallets, credit cards, debit cards, and bank transfers being the most frequently used payment methods both at point of sale and in e-commerce settings already.(3) In addition, Millennials and Gen Z will constitute 72% of the global workforce by 2029.(4) As they have grown up in an era where nearly everything is instantly accessible, they anticipate seamless experiences and European merchants must be prepared to meet their expectations. Businesses that implement effective frictionless payment experiences can, amongst other things, benefit from reduced shopping cart abandonment.
By combining industry research, data, and proprietary insights, JCB and Worldline shared their views of how merchants can effectively create a frictionless payment journey for their customers, reflecting on the growing demand for frictionless payments among Asian consumers. As a result, this guide aims to provide actionable steps for European merchants who want to keep up with the expectations of a society that values speed and convenience, and who want greater access to new technologies and secure transaction processes.
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