2Checkout Releases eCommerce Trends Survey on Mobile Payments & More

January 28, 2020         By: Steven Anderson

It’s a part of January that’s almost as inevitable as snow and cold, at least in the Northern Hemisphere: you’ll get not only year-in-review style articles but you’ll also get year-to-come articles. Recently, we got one such article sent our way from 2Checkout, who dropped the eCommerce Trends Survey on us. Some of the highlights of that report will be eye-opening indeed for those of us who follow the mobile payments market, as well as the businesses best suited to offer mobile payments access.

Customer experience is a major driver of this movement, with 43 percent of respondents calling it a “significant” part of operations. This is followed by tools that help with brand building and awareness for 32 percent, and immediately behind that is analytics with 31 percent. Several optimization issues make up almost half of the total by themselves, including improving carts on site, mobile optimization, and others.

Yet most businesses—40 percent of respondents—are concerned about choosing the right technology to accomplish their internal goals. Online business optimization is another critical priority, up 14 percent against last year’s figures. Further priorities include conversion rate optimization for 35 percent, building targeted traffic counts for 22 percent, augmenting customer support for 21 percent, and several others.

In a move that shows businesses are starting to understand the value of mobile payments, 31 percent of studied businesses plan to implement new mobile payments tools this year, and 29 percent are looking to add the ability to take installments via credit card.

The number for mobile payments, honestly, should be higher given what we know about current priorities. With analytics and improved customer experience both high on the goals list, adding mobile payments is a great way to address these shortcomings while adding a new payment option. Mobile payments tools allow for the collection of data along with the collection of cash, and that makes a business better off as a result on several fronts at once.

Hopefully, 2020 will see a lot more activity on the mobile payments front. There’s plenty of room for businesses to take advantage of this technology, and with it, improve customer experience, data gathering for analytics, and plenty more fronts. All it takes is to put in a technology already widely used and proven.