Payvision study shows 44% of retail consumers won’t change their “COVID-19 effect’ buying habits


Global retail spending fell dramatically throughout the 2020 lockdown as governments asked virtually all non-grocery retailers to close. Consequently, 2020 saw the biggest decline in in-store sales over the last 25 years. However, this was partially offset by the surge in panic buying essential goods at the start of the lockdown restrictions.

With lockdowns lifted, governments encouraged consumers to limit in-store shopping. This boosted global online sales by an annual growth of 9%. In Europe, online retail spends on physical and digital goods increased by USD116 billion in 2020 to reach a total of USD832 billion.

E-commerce will continue to play a critical role and businesses will need to accommodate this. To retain a competitive edge, retailers have been investing in digital transformation: chatbots, voice assistants, and messaging apps etc.  In 2020, conversational e-commerce grew by 171% and reached nearly USD60 billion in transaction value globally and is forecast to reach USD200 billion in 2022.

Ellerd Liem, Director POS and Payvision, comments: “The key to a truly customer-centric shopping journey is in integrating all your sale points onto a single platform. Convenience, personalization, and seamless checkout should be at the heart of your customer’s experience – no matter whether they’re in a physical store or online.”

International shipping and sales are a staple of future growth. Ultimately, this means competing with popular marketplaces and global retailers, so they’ll need to meet consumer demand while offering fast delivery turnaround and specific payment methods for each market. OEM and invisible payment methods will eventually be expected alongside the traditional, as a 13% increase in the popularity of digital wallets for e-commerce has already been seen.

Ellerd Liem of Payvision explains: “Paying must be as easy and natural as possible. The customer should be able to checkout whenever is handy for them, at any point in the process. If they’re not able to, this can lead to unnecessary friction, which means a risk that the customer could get frustrated and turn away from the brand.

A way around it is enabling subscription purchasing, increasingly popular. Across BelgiumGermany and the Netherlands 35% of respondents stated that they had increased the number of online subscriptions. Subscription transactions in Europe will exceed $51billion in 2021 and are set to reach $84 billion in 2025.

Payvision’s findings are clear: it is time for retailers to adjust to the new post-pandemic climate, as 44% of consumers are convinced that their new buying habits will not change post-COVID-19.


Selina and Payvision joined forces to help you find your home away from home

Payvision, the global fintech and omnichannel payments provider, and Selina, the global hospitality platform, announce their partnership in providing travelers with the ultimate user experience. Payvision supports Selina in ensuring all customers undergo a smooth and successful payment journey with all transactions.

Conversational commerce is an important feature for Selina’s co-live offering with the additional questions that arise from long stays. Payvision helps Selina power conversational commerce with its sales team through customized Virtual Terminals and payment links.

With Selina’s dedication to providing a unique travel experience and Payvision’s commitment to guaranteeing a smooth transaction with every payment, the two companies are bound to ensure the best customer journey and experience.

“PSD2 SCA has additional challenges in hospitality when accepting bookings from online travel agencies (OTAs) where an additional authentication reference is sent. As PSD2 SCA became mandatory, Selina has now a dynamic solution to meet the requirements of the mandate and optimize authorization rates,” said Bradley Hossack, Technical Integration Manager at Payvision.

Payvision is processing the direct ecomm platform on and will process the rooms sold through OTAs. A major challenge in hospitality is managing guests’ card payment info securely, especially when multiple external channels are involved in an online and physical omnichannel experience. Payvision’s solution offers increased security for Selina’s guests’ personal data, by reducing card data exposure across channels from online to check-in.

We bolstered our payment strategy by unifying all our channels and achieved a quantifiable cost optimization. Payvision’s technical solution will grow at the same pace as Selina, together with the user experience that allows guests to pay however they want, wherever they want,” declared John Santrizos, Director Treasury at Selina.

Payvision also provides Selina’s commercial team with a dashboard showing a clear view of each location’s performance. With this service, Selina can turn data into business intelligence, helping make strategic commercial decisions.

After a testing period, the partnership between Selina and Payvision became operational in October 2020 and it fills the gap between service and technology while also demonstrating responsiveness and street-smart mentality. The partnership with Payvision will help Selina have a stronger hold and further expand their business in Europe.