Consumers want what they want, whenever they want it — digital or otherwise. Whether it’s ordering via a ride-hailing app, or streaming their favorite TV shows, they want it to be fast and secure.
As such, digital services are racing to deliver a fast and secure experience, while appealing to consumers’ varied preferences around the globe.
Netflix, for instance, is looking to launch mobile access for its content in India, a market where the smartphone is quickly taking center stage. Netflix currently has about 137 million global users, and India’s 450 million internet users provide an opportunity to significantly boost that figure.
Other companies, like Spotify, are looking to expand their global reach by cutting out the middleman: The music streaming service may be pulling its mobile app from the Apple App Store, as gaining back that share of revenue could enable Spotify to expand its services and features in the future.
However, before expanding to new global markets, companies must make sure they’re compliant with new regulations. Laws like PSD2 in the European Union, for instance, could change the way that companies like Google and Square are allowed to treat data.
The latest edition of the Commerce Connected Playbook, in collaboration with First Data, offers a roadmap for digital services to navigate international compliance challenges, digital payment upgrades and data security as they expand across the globe.
Digital Services and Their Impact
As consumers turn to digital services, they are increasingly turning away from cash, and resorting to cards and mobile wallets to pay for these experiences.
Between 2017 and 2018, card volume for on-demand and live-streamed content increased by 35 percent, and is expected to continue to grow. However, as customers rely on their smartphones for most of their digital needs (from entertainment to rideshares to payroll), how is the impact of these digital services changing?
In the Deep Dive for the Commerce Connected Playbook, we examine how digital services are changing, what impact they’re having on consumer spending habits and how they’re adapting to the global (and increasingly mobile) customer.
About the Playbook
The PYMNTS Commerce Connected series, in partnership with First Data, is designed to give readers an overview of the latest developments, data and trends from around the connected commerce space. Each issue of the Playbook will cover the major news from connected commerce players, and will include a data-driven Deep Dive into various retail segments and industries.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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