In just a few decades we've gone from face-to-face, catalog and phone omnichannel: endless retail/multiple ways to buy and receive goods. That change has expolded sales.
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Platform businesses are reshaping our economy and disrupting entire markets by seamlessly connecting buyers and sellers. However, processing payments and the exchange of value on a platform or marketplace can be challenging.
Stripe commissioned Forrester Consulting to evaluate the challenges that platforms and their sellers face, and the solutions they seek. Through a global online survey of 2,030 platform sellers and four in-depth interviews, Forrester found that platforms struggle to provide their sellers with much-needed payment capabilities, reporting, and customer support services with in-house resources alone. Meanwhile, sellers demand that platforms provide these services and will prefer platforms that are service-rich over platforms that are service-poor.
• The complexities of managing a platform force executives to divert resources, which stalls growth.
• Going global is easier said than done.
• Sellers will flock to platforms that simplify the process of sellin
Globally, payments are going digital—whether they are cash moving to cards, QR codes at point of sale (POS), purchases moving from physical to online stores with electronic forms of payment, or payments becoming seamless with in-app experiences. This phenomenon is not new, but does appear to be accelerating.
This increased speed of adoption is driven by multiple factors, including an abundance of new electronic payment methods—many of which are layered on top of existing payment methods— focused on convenience, speed and the overall consumer experience.
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