Cross-border shopping is the name given to the activity where in private individuals buy goods abroad because of lower taxes and import them for their own consumption, without declaring them in full in order to avoid paying import duties. International e-commerce is called cross-border e-commerce when consumers buy online from merchants, located in other countries …
The growing penetration of smartphones has led to the increased use of these mobile devices to pay for goods and services, both online and in-store. Leading this move to mobile payment are shoppers in the Asia-Pacific region, especially China. Over two-thirds of consumers in China with web-linked devices use mobile payment services such as Alipay and WeChat Pay. Take a …
The advances in technology and business models based on electronic platforms have enabled many governments to improve the efficiency and scope of their e-payment infrastructure. Submitting a tax return online, swiping an electronic card to pay for a journey or even, perhaps, receiving government health and/or social benefits directly in a bank account are now …
While consumers are generally very satisfied with the basic banking services being provided through digital channels, their experiences with more complicated transactions are currently falling short of the growing expectations and digital demands. Today’s banking consumers have come to expect seamlessly connected, convenient and positive service interactions at every stage of the financial lifecycle, and …
Digital payment is a way of payment which is made through digital modes. In digital payments, payer and payee both use digital modes to send and receive money. It is also called electronic payment. No hard cash is involved in digital payments. All the transactions in digital payments are completed online. Smartphone has emerged as a preferred mode for carrying out digital payments since it …
A payment gateway refers to the software that processes online payments, such as credit card processors and digital wallets. E-commerce platforms like BigCommerce incorporate payment gateways into their systems to provide a way to collect payments online. “Payment method” refers to the choices provided to shoppers at checkout. For example, the option to pay with …
58% of shoppers in KSA have shopped online at least once in the past. The vast majority of them (87%) have used credit cards to pay for their online purchases. Cash on delivery is also a very popular method for 66% of online shoppers probably due to apprehensions about using credit cards online. This is …
Year over year, payment methods are evolving and changing according to the rapidly evolving technology. For the first time credit took over the top spot as the overall preferred way to pay, replacing Debit as the number-one choice in years past. 71% of the consumers surveyed have a single debit card, with the majority of …