Business without borders: Navigating modern payment trends and consumer behaviours

THE pandemic brought about a boom in e-commerce, which has permanently altered the way consumers make their purchasing decisions. The growth has been immense and has persisted despite challenging economic times.

Research firm McKinsey expects consumers to buy a broader range of goods online in the coming years, across more product categories and channels. They are also willing to pay for new and more sophisticated logistics services.

That is great news for merchants everywhere. This new consumer reality has opened the door for more cross-border transactions. That includes many Singapore-based businesses, which are targeting buyers in the United States, the world’s largest consumer market.