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THIS DYNAMIC MARKET PRESENTS AN OASIS OF OPPORTUNITY TO EXPAND REACH AND BOOST REVENUE IF MERCHANTS CHOSE TO POWER THEIR PAYMENTS PERFORMANCE .
customer acquisition for e-commerce merchants having increased , a rise in falsely declined payments adds insult to injury . With 23 % of MENA shoppers having experienced a falsely declined payment in recent months , payment security must be top priority , for businesses across the region , for today ’ s customers are less patient , less loyal and more savvy than before .
With the increasing importance of security , e-commerce merchants must step up their efforts to safeguard their customers ’ funds and data from cyberthreats through advanced technologies AI and Machine Learning .
3 . Power up your performance through payments that can contribute to efficiency gains . Digital payments generate vast amounts of transactional data that , when analysed effectively , provide valuable insights into customer behaviour , preferences and purchasing patterns . By leveraging this data , businesses can tailor their services and offerings to meet individual customer needs more accurately .
Furthermore , Machine Learning and Artificial Intelligence allows businesses to understand their customer ’ s shopping patterns , allowing them to predict future purchasing trends and preferences , enabling them to offer relevant promotions , discounts or product recommendations at the right moment . This personalised approach not only enhances customer satisfaction but also increases the likelihood of repeat purchases and brand loyalty .
4 . Choose the right partner
To make the most of what the MENA market has to offer , payments need to be handled with utmost care and precision . Thus , working with a regulated payment service provider ( PSP ) that possesses deep local knowledge and relationships is key . Local acquiring access capabilities substantially reduces cross-border transaction costs , while integrating machine learning solutions help merchants maintain high acceptance rates , minimise costs and combat online fraud . Selecting the right partner empowers merchants to radically elevate their customer offering and keep transactions secure .
Ultimately , by working with the right payment solutions partner , businesses can drive sustained growth , increase their acceptance , enhance operational resilience and deliver exceptional payment experiences that resonate with modern consumers .
With half of MENA shoppers expecting to increase their online spending in the next 12 months , Abbondandolo contends that the region ’ s digital economy has never been more robust and resilient . This dynamic market presents an oasis of opportunity to expand reach and boost revenue if merchants chose to power their payments performance . �
Payments are much more than just a means for financial gains . They can truly power up the performance of a business , save time and resources through offering automated , analytics and reporting tools
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