Digital commerce platforms are expanding beyond helping businesses build, manage, and scale their online stores to providing payments solutions. This is a boon to platforms and their payment provider partners, which both benefit from enhancing platforms’ merchant relationships and building new revenue streams.
Key Question: How is digital commerce platforms’ embrace of payment processing contributing to their overall growth?
KEY STAT: US digital commerce platforms’ gross payment value will increase 9.0% in 2023—capturing an increasingly higher share of their retail ecommerce sales, even as sales growth falls below pre-pandemic levels.
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