"Telecommunications companies won't be able to afford their expensive call centers much longer, given their shrinking margins. Fortunately, they can cut their customer service bills in half by following the lead of airlines and retailers that have successfully moved many of their transactions to the Web. Many customers are willing � and some even prefer � to deal with the telcos over the Internet, but these companies must dramatically improve their online capabilities to meet such people halfway."
The world of eCommerce payments has evolved. As we look toward the latter half of this decade, we're witnessing a transformation in how digital commerce operates, with a clear shift toward localized payment solutions within a global marketplace. The numbers tell a compelling story. According to Juniper Research's latest analysis, global eCommerce transactions are set to reach $11.4 trillion by 2029, marking a 63 percent increase from $7 trillion in 2024. This growth isn't just about volume – it's about fundamental changes in how people pay for goods and services online. Perhaps most striking is the projected dominance of Alternative Payment Methods (APMs), which are expected to account for 69 percent of global transactions by 2029, with 360 billion transactions processed through these channels. eCommerce Payments Market Development What makes this shift particularly interesting is how it reflects the democratization of digital commerce. Traditional card-based systems ar...