Visa named as a “Major Player” in the IDC MarketScape: Worldwide Retail Online Payment Platform Software Providers 2024 Vendor Assessment.
Digital commerce needs are evolving, leading to changes in customer payment preferences that require merchants to expand the types of payments they offer. With retail sales increasing across digital channels such as eCommerce, marketplaces, and social media, offering the payment methods customers want is essential to your business. Currently 3 in 4 consumers want to use their preferred payment method when shopping, outlining the importance of this feature for merchants to offer. Cutting through the complexity of ever-changing digital payments is a must to stay ahead of customer needs, and a modern digital payment platform that empowers merchants is paramount. You need solutions that enable customizable checkout experiences, offer global reach while prioritizing security and fraud prevention, as well as provide in-depth analytics and reporting. These capabilities can be the difference between success and failure for your business and should be a priority when determining which payment software solution provider to team up with to ensure you’re getting exactly what you need.
The digital commerce frontier
In the IDC MarketScape: Worldwide Retail Online Payment Platform Software Providers 2024 Vendor Assessment report, which focuses on online payment platform solutions, vendors including Visa were evaluated by IDC based off core functionalities its solutions offer, geographic coverage, partner collaboration, and other criteria such as AI usage.
Visa’s strengths and areas of opportunity
With the digital commerce environment ever-expanding and consumer demands/desires diversifying, Visa is well-equipped to handle these day-to-day challenges that merchants face with its robust, multi-network- token management solution, gateway, and fraud management solutions.
The IDC MarketScape noted:
“Visa Acceptance Solutions is an excellent choice for enterprise merchants operating complex, global operations in which multiple acquirers are required. The platform offers a broad set of functionality and extensibility, especially for vertical market applications, for companies that are inclined to develop highly customized environments and have the resources to manage these systems.”1
Payments don’t have to be complicated. Rob Cameron, Global Head of Visa Acceptance Solutions, summarized the importance of simplicity and choice for consumers saying, “If you make it easy for consumers to pay, they’ll shop more.”2 Simplifying the payment process by providing the desired payment methods can influence consumers to become devoted customers.
Getting the most bang for your buck
Whether you’re wanting to expand your geographical reach to engage with different audiences or increase authorization rates for more realized revenue, Visa Acceptance Solutions’ flexible approach has the diverse and sought-after capabilities that can help maximize your business’ impact and enable you to do business your way. Our solutions include the ability to offer the payment methods you need that your customers want. Payments can be complex—let us deal with that. At Visa Acceptance Solutions, we uncomplicate the complicated nature of payments so that you can focus on what matters most: your customers.
1 IDC MarketScape: Worldwide Retail Online Payment Platform Software Providers 2024 Vendor Assessment, IDC #US49436923, June 2024.
2 Nafso, T. (Host). (2024, June 5). The Rise of Digital Natives and Making Payments Frictionless with Rob Cameron (No. 8) [Audio podcast]. In Embedded. https://open.spotify.com/episode/370FdXVcOXrJmJxER0mdM0
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