AMSTERDAM — Consumers are more likely to interact with a business with a frictionless payment experience in place.
Sixty-one percent of merchants say payments is a high area of focus, according to Discover Global Network’s “Payment State of the Union” report, released June 3. The report, which surveyed 5,030 consumers and 2,258 merchants globally, also found that 53% of merchants say it’s key to offer a variety of digital payments.
“Merchants are making payments, generally, more and more of a strategic priority,” Matt Sloan, vice president of international markets and payments services at Discover, told Bank Automation News at Money2020 Europe.

The following payments channels, according to the Discover report, are key to improved customer experience:
- Tap-to-pay: 92% of merchants see these mobile apps as a driver over the next three years. In fact, 73% of consumers are comfortable using tap-to-pay.
- Omnichannel payment experience: 86% of merchants stated they need to improve this.
- Offers and rewards: 43% of merchants are offering payment, offers and rewards through their own apps.
- Contactless payment options: 39% of merchants offer these.
- Financing options: 39% are offering more financing options to their consumers.
“We’re seeing a continuing trend of merchants viewing payments as a driver for top- and bottom-line improvements, in addition to customer experience enhancements,” Rajiv Gupta, vice president of international markets (EMEA) at Discover, said in the report.
Discover releases its Payment State of the Union report annually and uses it to identify product development gaps or partnerships the card giant needs to fill in any gaps, Sloan told BAN.