Judopay & Kyan - The Future of Payments 2018 event

Judopay and Kyan held a breakfast event on 6th November 2018 to learn about the future of payments and what that means for e-commerce businesses.

Speakers included Visa, Google Pay, Chargebacks 911, Riskskill and Judopay.

Retail habits are shifting. The well-documented trend towards online shopping, as evidenced by the demise of bricks and mortar brands and the rise and rise of digital challengers such as ASOS, has seen us become a nation of click-happy shoppers. From fast fashion to furniture, we turn to e-commerce outlets to service an ever-expanding gamut of consumer needs.

Yet a lesser discussed trend is the growing role of ‘almost shopping’. The practice of browsing online, adding items to your basket, heading to the payment page, then just…stopping there. On average there is a 69% cart abandonment rate, creating a headache for retailers and breeding a nation of basket-drop-aholics.

It’s no surprise that an increasing number of retailers are exploring new forms of technology and innovation to improve the shopping experience. This includes reducing friction at payments points, helping enhance the process for the 18.6% of people who find this element too complicated to bother with.

It’s becoming increasingly common that payment providers are considered a consultant to drop this drop-out rate.

Payments are an important part of the process rarely discussed, and we'd like to change that.