Fintech Insider Podcast by 11:FS 873. Focus: How can payments providers help SMEs optimise their ecommerce experience?
Jul 3, 2024
Visa Europe's Lynsey Verrillo discusses optimizing e-commerce for small businesses in France. Guests explore challenges, payment solutions, pandemic impacts, trends in the French payment market, and enhancing user experience through payment service providers.
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Pandemic Boosted Seamless E-Commerce
- The pandemic accelerated e-commerce to match face-to-face transaction volumes for the first time ever.
- Embedded payments in software platforms make commerce seamless and integral to business operations.
France Leads in Contactless Payments
- France leads continental Europe in contactless payment amount and usage.
- Mobile payments grew 23-fold since 2019, showing French consumers embrace digital wallets.
E-Comm Faces Friction and Fraud Challenges
- Digital transactions have 10% lower approval rates and up to 10 times higher fraud than in-person ones.
- Consumers abandon checkouts after two minutes, emphasizing the need to reduce payment friction.