E-commerce surged largely out of necessity but research shows that there is no going back and contributing to this growth are innovations in digital payments to be a solution to online consumer preferences. According to Joel Henckel, SVP, US Market Acceptance of MasterCard, the transaction volume of card-not-present surpassed card-present last March 2020 and has not gone back down since.

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While the whole world was put on a sudden pause, the new normal introduced a different routine as people worked around safety guidelines implemented by the government and health sectors all over the world. One thing we noticed is the transition to cashless payments. In the recent PayPal 2020 PH Consumer Survey Results, 93% of the consumers surveyed preferred digital platforms over cash and 87% of those surveyed increased their usage of online payments during the pandemic.

There has been a rise in online shops and websites. More and more businesses have been shifting to online platforms. One big problem in their online business venture is when their customers do not follow through on their orders. They just simply add to cart but do not checkout.