Report: 2011 Saw Online, Offline Payments Converging
June 8, 2012
Innovation in e-commerce payments increasingly will focus on in-store checkout as traditional and online payments began to converge in the past year, according to a report from Ecommerce Europe and payments consultant Innopay. As more traditional retailers begin to offer their products online and are becoming multi-channel, the report says “infrastructural characteristics of these channels are converging as the Internet is becoming the infrastructure for every payment context.”
“The world is becoming more and more ‘e’,” according to the report. “So the merger of online and offline is basically the disappearing of the first and the latter taking over. In a few years’ time, we will not be writing about e-payments or online payments because it will no longer be a meaningful category. We do still recognize channels and contexts and online payments will diversify to cater to all these channels and contexts.”
The report highlights the trend of online payment methods encroaching in the brick-and-mortar world, such as PayPal’s in-store payment system and mobile bringing online payments everywhere.