Following this announcement, the research highlights the need for unified and agile payment solutions, as nearly 6 in 10 businesses experience payment fragmentation. This not only affects the transaction efficiency of companies but also the overall experience of customers.
The survey was conducted with 793 businesses across the globe, revealing that 59.1% of firms operated with fragmented payment systems that led to inefficiencies and missed growth opportunities.
Corefy represents a universal payment orchestration platform for online businesses and payment institutions, focusing on supporting ready-made integrations with payment service providers and acquires worldwide. The firm also delivers scalable, secure, and reliable payment tools to businesses across different industries across the globe.
The study was based on the Payment maturity model, representing a strategic framework that was designed to help businesses assess and optimise their payment processing capabilities. It also revealed that the companies in the early stages of payment maturity often struggle with managing several disconnected providers, limited automation, and slow integrations.
The findings also showed that only a small fraction, representing 12.3% of companies, have reached an advanced level of payment maturity. At the same time, these businesses have fully optimised their payment infrastructure, allowing them to adapt to market changes, improve user experience, and reduce their overall operational costs.
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