The future of Commerce with Pandascrow

Do you see yourself on the front lines of the ever-changing commercial trends?

In recent decades the commerce industry has witnessed revolutionary changes. Digital and contactless payment methods have skyrocketed since the pandemic. COVID buying habits have come to stay. In 2021, One report showed an increase in digital payment methods from 72% to 82% during 5 years.

"Increase in online transactions causes increasing needs".

Current Needs in the commerce industry

E-commerce is rapidly expanding. A study from Jupiter Research found that the value of global e-commerce payment transactions will exceed $7.5 trillion by 2026, from $4.9 trillion in 2021 — a growth rate of 55% over five years.

This shows that the market is becoming more saturated and competitive, giving rise to challenges for upcoming businesses in terms of revenue generation but also for the security of e-commerce transactions.

E-commerce fraud has become an increasing threat in recent years. In 2021 alone, one study showed a 178% increase in e-commerce fraud during the holiday season alone!.

Synthetic fraud, return fraud, account takeover fraud, chargeback fraud, and other types of e-commerce fraud have become an urgent need for concern.

Fraudsters now target merchants directly to steal from them. This leads to loss of revenue, resources, customer metrics, and decreased sales due to a lack of trust from customers. All this indicates an ever-growing need in the commerce industry - Security, convenience, simplicity, and flexibility in shopping methods.

One research showed that 97% of buyers have bailed on an online order because it was complicated or inconvenient to finish. The use of digital payments via mobile phones grew from 44% in 2019 to 56% in 2020

Shoppers want convenience and simplified payments. More importantly, customers and merchants need to be protected from the increasing threat of fraud.

"Pandascrow's latest technology answers this call."

Escrow the future of Commerce.

Pandascrow is a fintech startup that has developed a white-label payment solution. Their latest technology protects users from fraud using escrow technology. What's more, the technology offers a seamless and flexible payment gateway secured by Escrow.

Recently, they have documented their API which is now undergoing beta testing. Integration of Pandascrow's API will bring tremendous improvement to the e-commerce industry concerning anti-fraud practices and seamless transactions.

Projections.

In the coming years, we expect an increase in e-commerce fraud and other online fraudulent transactions. This increase is expected to reach its peak from September to December. One study by Juniper Research predicts that global online payment fraud will exceed $206 billion cumulatively between 2021 and 2025.

Pandascrow is ready to rise to this threat. Using the pandascrow escrow app, we can all create a world of commerce that is convenient, customer-focused, safe, and free of fraud.