The proliferation of payment options doesn’t only make things more challenging for customers. The growth in digital wallets, and the number of payment choices out there, are making things more complex for merchants too.
“The rise in Web 3.0 and metaverse adoption will expand the number of channels and the payment methods that come along with them,” said Ronak Doshi, Partner at Everest Group. “At the same time, the rise of real-time payment schemes is poised to add more competition and players in the payment ecosystem. This will simplify the payment processes but increase the number of choices for e-commerce firms and their customers.”
