News in Brief

Cash Accepted by About Half of E-Commerce Merchants

The Reserve Bank of Atlanta has made some observations about the Merchant Risk Council’s 2023 Global Ecommerce Payments and Fraud Report. The type of payments accepted has increased with 37% of the surveys’ respondents adding digital wallets, 25% buy now pay later, 23% mobile commerce payments, 19% bank transfers/direct debit, 17% cryptocurrency and 16% local digital payments, eg. PIX in Brazil.

About 50% of e-commerce merchants accept cash and 30% cash on delivery.

Given that how people pay incurs costs and risks for e-commerce merchants, 90% of merchants seek to influence how people pay. The top five methods to influence payments choice were: 

1.Promote preferred payment methods

2.Offer preferred payment methods before the checkout page