4 ways payments will change in 2024
Thanks to The Global Banking & Finance review for publishing our article – 4 ways payments will change in 2024 – Pay By Bank, digital footpaths, loyalty and insights.
The article outlines four key payment trends for 2024, stressing their significance for retailers’ operational efficiency and customer satisfaction.
- Pay By Bank: This emerging payment method offers convenience and lower fees for both consumers and retailers, making it increasingly popular.
- Digital Footpaths: Insights from digital payments and customer data are becoming essential for businesses, aiding in identifying growth opportunities and enhancing customer experience.
- Loyalty Shift: Economic challenges like inflation are eroding consumer brand loyalty, necessitating personalized offers to retain customers.
- Data Monetisation: Retailers will increasingly generate revenue by selling customer data to advertisers and brands, reshaping the retail business model.
By understanding and adapting to these trends, retailers can better navigate the evolving payments landscape and capitalise on opportunities for growth in 2024.
