Gustavo Ruiz Moya, CEO, SafetyPay
Covid-19 has placed financial pressure like never before on companies and consumers. Banking institutions are forced to facilitate alternative payments and transfers with new automation, due to the increased number of e-commerce transactions and new consumer trends. A large proportion of people around the world made their first online purchase ever this year, with more than 13 million Visa cardholders making payments through e-commerce for the first time between January and March. In part, this was because of changing consumer behaviour, but also because of established e-commerce systems that created seamless experiences for the end-user.
Robust digital growth makes alternative payments a dynamic sector for consumer demographics that are still developing and a draw for new merchant competitors – yet it also introduces a unique set of challenges.
Combatting future financial challenges for merchants
Ensuring financial inclusion for the future is an ongoing challenge for global merchants trying to expand their reach. SafetyPay provides alternative payment options for underbanked consumers. Two major …