The payments landscape is changing rapidly. Back in February, I had the opportunity to chat with PYMNTS.com about the state of online payments today, and what business platforms need to be thinking about as the ability to process payments becomes a requirement. Here is the writeup of our conversation:
As of 2017, platform businesses need payments solutions — they are becoming a less optional part of the business. But turning payments isn’t exactly as easy as flipping a switch — and therein lies the rub, according to Kurt Bilafer, CRO at WePay. Platform businesses aren’t at a payments-optional point in their evolution — their merchants and consumer end users more or less demand them. Commerce in the digital age is built around notions of frictionlessness and seamlessness, and being unable to start and finish a full transaction on a single platform is nothing if not a friction-filled experience.