How To Capture The Rising eCommerce Tide And Simultaneously Stem A Tidal Wave Of Fraud
It has often been said during the last several weeks that the world has seen several years’ worth of eCommerce innovations advance in about three months, due to the pressure and pivots created by the global health pandemic. What most people fail to appreciate, Payoneer Head of Enterprise Adam Cohen told PYMNTS in a recent interview, is how literally true that statement is. As much as it sounds like a colorful way of describing all the rapid progress, it fairly accurately captures what the trendlines have demonstrated of late, he said.
In the United States alone, he noted, the eCommerce penetration rate rose from about 17 percent to about 27 percent over the course of the eight weeks or so of stay-at-home orders. Before that, it had taken roughly 10 years to grow from 6 percent in 2009 to 16 percent in 2019.