Today’s consumers are empowered by new online and mobile technology, driving forces behind continued, dramatic changes in banking and retail commerce. They expect to transact business and make payments electronically – anytime, anywhere and on any type of device.
First Data refers to this evolution in consumer behavior as Universal Commerce – and as this trend becomes increasingly common, merchants and financial institutions need to adapt quickly not only to remain relevant but also to take advantage of the opportunities it provides. As traditional wallets make way for mobile wallets, customers are seeking seamless experiences that fit their individual needs across channels. Financial institutions that ignore this trend risk being left behind.