Forbes and J.P. Morgan asked 400 global business leaders about digital innovation and the ways they expect it to provide them with a competitive edge.
The survey’s findings identified four imperatives that can help your business grow by maximizing your return on innovation.
1. Subscription business models
U.S. retail 130%
- Subscription Economy Index 435%
- 435% growth rate of the Subscription Economy® since 2012²
- 46% of surveyed executives say a subscription business model is a priority³
Subscription businesses must balance sales and fraud objectives — particularly as more brands seek to create and grow recurring revenue streams.
2. Fraud risk
- 74% of companies targeted by payments fraud4
- 47% of surveyed executives cited card fraud as most common form of payment fraud³
When your fraud and revenue objectives remain in balance, you can approve the most card transactions at the lowest possible cost while mitigating risk.
3. Business insights
- $1 Trillion in consumer spending is enabled by J.P. Morgan annually5
- 60% of surveyed executives recognize the value of translating payments data into actionable customer insight3
Your payments data can hold the key to acquiring and growing customer relationships and maintaining your competitive edge.
4. Digital transformation
- $5 Trillion projected global e-commerce spend in 2021¹
- 50% of surveyed executives have increased budgets for digital payment innovations3
From accepting your customers' preferred payment method to creating uniquely rewarding experiences, innovation is central to your business' success.
J.P. Morgan helps you manage the cost and complexity of digital payments and cash management everywhere you do business.
Discover how J.P. Morgan innovation can help you maximize your potential.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author nor J.P. Morgan makes any representations or warranties as to the information’s accuracy or completeness. The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments, and may not be construed as such.
References
2021 AFP Payments Fraud and Control Survey https://www.jpmorgan.com/commercial-banking/insights/afp-fraud-survey-webinar
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