Which of the following is not a major trend in e-commerce payments in 2022-2023?Group of answer choicesLarge banks enter the mobile wallet and P2P payments market.Payment by credit and/or debit card is no longer the dominant form of online payment.Online payment volume surges due to the Covid-19 pandemic.PayPal remains the most popular alternative payment method.
Question
Which of the following is not a major trend in e-commerce payments in 2022-2023?Group of answer choicesLarge banks enter the mobile wallet and P2P payments market.Payment by credit and/or debit card is no longer the dominant form of online payment.Online payment volume surges due to the Covid-19 pandemic.PayPal remains the most popular alternative payment method.
Solution
The statement "PayPal remains the most popular alternative payment method" is not a major trend in e-commerce payments in 2022-2023. While PayPal is indeed a popular payment method, the dominance of PayPal as the most popular alternative payment method is not a new or emerging trend. Other payment methods such as mobile wallets and P2P payments are gaining popularity and large banks are entering these markets. Additionally, the statement that payment by credit and/or debit card is no longer the dominant form of online payment is also a trend as more and more consumers are using alternative payment methods. The surge in online payment volume due to the Covid-19 pandemic is also a trend as more consumers are shopping online due to lockdowns and social distancing measures.
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