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Meanwhile, consumers are still expressing demand in mobile and brick-and-mortar channels. Whether that can tidy up an e-commerce checkout page isn’t entirely clear at this point, but merchants are definitely holding off on certain additions. The other motive was to develop an option that could compete with any other button available to merchants.
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Visa and Mastercard were seeking, at least in part, to diminish the potential for merchant or consumer confusion when exploring how to share a single pay button on e-merchant checkout pages.
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“It’s a new market, and everyone jumps in with both feet, then all of the sudden there is consolidation and 95 payment types transforms down to eight types because everyone in the market is not going to make it.” The advancement of multi-channel merchants - those with storefronts, websites and apps - is causing some consolidation of payment options, Bush said. Only half of the merchants surveyed said the mobile channel requires additional or specialized fraud tools, the lowest level in six years of the study. Since 2013, Kount’s data indicates merchants have steadily reported an increase in awareness of mobile fraud risks, but about 35% of them still do not track mobile fraud or do not know whether fraud attempts increased or decreased last year. That, in part, explains the slip in mobile wallet acceptance. For the third straight year, the company noted “signs of complacency and even regression in terms of managing mobile fraud risk,” Bush said. “That is confusing to the consumer and their payment processor probably doesn’t accept all of them anyway.”īoise, Idaho-based Kount surveyed 600 e-commerce merchants in compiling its sixth fraud and payments survey.
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“What is starting to happen for online folks is they know they can’t put 20 different payment logos on their site,” Bush said. Today’s e-commerce merchants are looking at as many as 270 different digital payment types worldwide, depending on regions and countries, he added. “But when they don’t see a lot of consumer acceptance, they know PayPal has been there for years, so let’s just go back to that.” “It’s a case where merchants are saying Apple has 800 million user accounts, so we’ll put Apple Pay on our site,” Bush said. Samsung Pay fell to 14% from 15%, Visa Checkout grew to 28% from 26%, Masterpass stayed at 8%, and Chase Pay at 6%.Īmerican Express Checkout enjoyed the biggest gain in support among the bank-supported brands, growing acceptance to 16% from 9% of merchants. However, support for PayPal increased from 48% to 64%, while the share accepting Samsung Pay, Visa Checkout, MasterPass and Chase Pay all stayed even or within two percent of the previous year. “The Apple Pay drop is pretty significant, but I believe the folks at Apple are putting a lot of eggs in the at-store basket, pushing it more at the physical POS and maybe neglecting the online market a bit,” said Don Bush, vice president of marketing at e-commerce fraud prevention and risk management provider Kount Inc. The percentage of e-commerce merchants accepting Apple Pay in 2018 is down to 35% from the previous year’s 48%, while Google Pay is down to 25% from 38% a year earlier, according to Kount’s annual Mobile Fraud & Payments Survey. This is causing merchants to abandon big-name wallet apps in favor of brands that have more history behind them. Rather than pile on more wallet options, businesses are pondering whether to create applications with embedded payments, establish a mobile browser or continue to use their e-commerce platforms as a browser. The advancement of digital wallet technology in the past five years may be having a numbing effect on merchants, as new research indicates several major mobile wallets are losing momentum.