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T he only constant is change, and the world of payments is changing fast. These changes are opening up many new opportunities for all stakeholders: efficiency opportunities; differentiation opportunities; growth opportunities.
Customer expectations are evolving more and more quickly, and companies are being forced to adapt their processes and payment methods accordingly. Those companies that do not adapt will expire into irrelevance. But in such a dynamic environment, it is the leaders who have the most to gain. They are the ones setting the benchmarks for customer expectations. Paymentworld Europe Ltd., recognized as one of the Top 10 Payment and Card Consulting companies in 2020 by CIO Applications Magazine, is establishing itself at the forefront of the B2B Payments industry. We do not see ourselves as just a service-provider for our clients, but rather as a trusted business partner helping clients stand out, enabling them to quickly and effortlessly make and receive payments in whatever form best suits them, wherever they are in the world.Those companies that do not adapt will expire into irrelevance
Apart from IBAN4U, Paymentworld Europe is making its mark on the market with its omnichannel payment gateway which offers merchants the possibility to work with over 350
Payment methods including giropay, sofort, paypal, neteller, skrill and many others. The payment market in every country is not only unique but it is also fragmented. Today’s consumers expect to browse and purchase anytime, anywhere, through any channel, using any payment type that suits them. Offering a variety of options ensures that consumers can pay for products and services with their preferred payment method, thus helping merchants improve their checkout conversion rates by up to 30%.
Although consumers have their payment preferences, so do merchants. It’s worth noting that in 2015, alternative payment methods (APMs) actually surpassed card schemes. APMs such as Paymentworld Europe’s Real-Time Payments solution give merchants the opportunity for instant settlement, low transaction fees, lower risk of fraud and no charge backs. This has been made possible by Open Banking which has created an opportunity to make bank-based payments a reality for all European customers.
These innovations in payments technologies and the unprecedented growth of global ecommerce throughout the last decade means that there is a significant diversity between the preferences of online shoppers. Apart from having to accommodate consumers’ preferred payment methods, merchants must also pay attention to consumers’ preferred payment channels which include mobile point-of-sale, mCommerce, eCommerce and in-store point-of-sale. Leading payment solution providers such as Paymentworld Europe enable merchants to accept payments through all the above using an omnichannel approach.
Conclusion
In conclusion, the payments industry is one which is moving at a very quick pace towards increased convenience for consumers, merchants and corporates. More than ever before, it is important for companies to have a partner that they can rely on to guide them on how they can strategically take advantage of emerging payment opportunities to access new markets, increase efficiencies and reduce risk. This is the significant value-add of working with a company with a leadership mentality as is Paymentworld Europe Ltd.

Jens Podewski
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One of the foundational concepts moulding the future of payments is convenience.
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