Digital Commerce Transactions to Pass $20T in 5 Years: Juniper

The value of digital commerce transactions will top $20 trillion globally by 2027, up from $12.3 trillion this year, said a Wednesday Juniper report, citing growing acceptance of digital payment methods and near-field communication payments at retail that replace the need for a payment card. The report recommends that NFC payment vendors eliminate unnecessary steps in the payment process and support devices that enable biometric identification for payment authentication to curb fraud. Juniper expects the value of global e-commerce transactions to grow by 82% through the forecast period with remote purchases of physical goods growing 106% through 2027 as improvements in supply chain and order fulfillment operations result in faster delivery times. Vendors operating in the e-commerce market should integrate alternative payment methods such as buy now, pay later to maintain growth and compete with brick-and-mortar retailers, it said.