Smart Transactions & New Trends in Payments

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Convenience, in terms of consumers managing their shopping experience, is one of the most important challenges in the coming years. Already, in recent years, with the spread of e-commerce, consumers have become familiar with many different payment methods and the use of biometric identity checks to secure transactions. Particularly since the pandemic, however, they seem to have greater demands for easier payment methods, across all online and offline channels of a business. However, in addition to the necessity of becoming familiar with new payment trends in order to offer smart transactions, a merchant business is also forced to address the issue of the cost of bank commissions. The cost of using payment services, in particular the cost of supplying the technical equipment (POS) and the high fees charged by banks for electronic transactions, affect small businesses the most, which are, however, the backbone of the Greek economy. This, combined with the high cost of access to the Internet, creates a further peculiar inequality between small and large commercial enterprises in terms of access to electronic transactions.