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Overcoming challenges in the new era of digital transactions .

By Carol Grunberg

Global digital transaction levels are forecasted to soar from $ 11.55 trillion in 2024 to $ 16.62 trillion by 2028 , according to leading market data firm Statista , which underscores the fact that consumers prize convenience and that important changes are on the cards for merchants operating across different sectors of the economy .

As a leading payment orchestrator , Yuno has had a front-row seat observing the rapid rise and diversification of digital payment methods across the world and how the global payments landscape has become increasingly fragmented . Gone are the days when Visa and Mastercard dominated the global payments scene – we now see payment methods varying drastically from country to country .

In Asia , for example , Chinese consumers now balk at the sight of a credit card , so accustomed are they to paying via QR codes like Alipay and WeChat Pay . In Brazil , meanwhile , consumers are increasingly turning to alternative payment methods ( APMs ) like Pix – a real-time payment system developed by the country ’ s Central Bank . In Europe and the US , Apple Pay and Google Pay are fast becoming the payment methods of choice , particularly among younger consumers .

Yuno Co-founder and CEO , Juan Pablo Ortega , even recently had a taste of what could represent the future of digital payments after trialing a new tiny smart chip in his nail that enabled him to make payments with just a tap of his finger .

While really exciting for consumers , all of this diversity creates challenges for merchants looking to sell their goods internationally and scale quickly across markets , particularly given the speed at which innovation and payment preferences are developing across different regions .

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