The increasingly digital way of life and shifting to digital solutions have, in turn, presented SMEs with new challenges.
One challenge SMEs have adapted to is the increasing consumer preference for safer and touchless ways of payment. In the next three months, nearly four in five Singapore consumers (79%) expect to use contactless payments whenever possible — the highest of all markets surveyed and compared to a global average of three in five (60%). Nearly half (45%) would not shop at a store that doesn’t offer contactless payment methods.
These are the findings in Visa’s latest Back to Business Study. The fifth edition of the global study reveals how rapid digital shifts in consumer habits continue to impact commerce around the world and explores the shape-shifting trends that SMEs face in payments and beyond.
This story is from the Issue 38, 2021 edition of SME Magazine Singapore.
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This story is from the Issue 38, 2021 edition of SME Magazine Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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