Highlights From 2021 Merchant Advisory Group (MAG) Mid-Year Conference.

Jan 27, 2021 3 Mins
Highlights From 2021 Merchant Advisory Group (MAG) Mid-Year Conference.

About MAG

MAG conferences provide all the key stakeholders in the payments world to collaborate and exchange views on the most crucial subject in payments. MAG conference offers a distinctive exposure, alluring payments professionals along with those with organizational obligations that include cash out and related matters.

Merchant Advisory Group(MAG) Mid-Year Conference Year 2021.

Merchants and industry thought leaders from various parts of the world participated in webinar sessions for the Merchant Advisory Group (MAG) Mid-Year Conference 2021.

As challenges and possibilities created by Covid-19 throughout the world, various scenarios on the merging of physical and digital commerce were discussed, the key highlights we outline from the MAG’s conference are as follows:

  1. A humungous shift of the younger generation to alternative methods of payment: Adapting to the changes is the need of the hour in the payment industry. So, as per the present circumstances to create healthy and ever- lasting relationships across all age groups, merchants need to lead the chart of the customer’s preferred payment options. This can only be possible through matching the requirements of the present-day customers' failure to which can cost merchant customers loyalty and revenue.

  2. Buy on credit transactions popular among youth: In the economic fallout during the pandemic, the most alluring feature to digital active customers is to buy now and pay later method through which customers are allowed to pay their bills in installments.

  3. Conducive digital and physical experience earning brownie points: the rapid increase in demand of uniting online and in stores shopping experiences, comprising of buy online, pick up stores makes it important to provide effortless multi-channel customer experience.

  4. QR code is helping create personal, data-driven customer experiences: the upsurge in demand of contactless and cashless, QR code payment technology due to COVID-19, merchants who are meeting the demand of the consumers by delivering this secure payment gateway can transact with more customers while also creating a more personalized data-driven path to purchase.

  5. Payment information is aiding merchants balance revenues and fraud prevention priorities: Detaining and analyzing data across merchant’s payment habitat is becoming important to not only enhancing profits and fraud prevention but also creating discretely fulfilling and highly distinguished customer exposure.

Do you provide your customers with an exceptional digital experience?

As digital technology is making the world so dynamic and is changing the way value is generated and exchanged, an era of opportunity exists for present-day merchants to transform the lives of their customers and make the most of every transaction.

DafriBank Digital enables both entrepreneurs and business personals to protect as well as increase their revenue by unifying and aligning cross-border payments and cash management strategies.

To matriculate and know more, please contact your DafriBank Digital representative.