Digital Payments and the Future of Commerce in the Next 10 Years


If the last year and a half has taught us anything, it’s that digital payments are here to stay and will continue to grow as a percentage of total payments.  Not only did in-person transactions decline, so too did the use of cash.  Could it be possible that we are actually heading towards a world without cash?

According to a recent report by Insider Intelligence, ecommerce sales in the US will reach $909 billion in 2021.  Alongside this growth, fraud has accelerated even faster, as the bad actors continue to find new ways to exploit holes in the ecommerce ecosystem.  For merchants, this has created a need to pay attention to more dynamics of the shopping and checkout experience.  Delivering a great customer experience means ensuring legitimate orders are processed and fulfilled with little to no friction, and fraudulent transactions are stopped in their tracks.  It seems rather simple, but at Vesta we’ve been helping merchants strike this balance for decades, and I can say from experience that it’s a lot more challenging than it sounds.  As a former boss used to tell me, “Says easy and does hard.”

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