The logistics sector is embracing digital transformation, with Payment Facilitators (PayFacs) at the forefront. Innovations in embedded finance, particularly digital wallets, are reshaping how transactions are conducted within this industry.
A recent study highlights the growing preference for digital wallets in logistics payments. PayFacs, along with Independent Software Vendors (ISVs) and marketplaces, are driving this trend by integrating advanced digital wallet solutions into their platforms. Notably, 34% of logistics payments are now processed through digital wallets, underscoring their rising prominence.
The shift towards digital wallets does not sideline traditional payment methods but complements them with more options like real-time payments and Buy Now, Pay Later (BNPL) services. This diversification in payment methods aligns with the strategic growth plans of businesses in the logistics and wholesale trade sectors.
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