5G networks, faster and more reliable than anything that’s come before, is poised to power the next generation of internet connectivity and e-commerce.
The new network will enable people to communicate, consume entertainment and shop at unprecedented speed and could prove pivotal for Australia’s economy, especially following the challenging rollout of the NB (National Broadband Network), which was designed to power connectivity.
Today, where everything (and everyone) is connected via internet in some way, 5G will assist the entrant of of the IoT (Internet of Things), allowing networks to keep up with the traffic demand for the foreseeable future. Some of Australia’s largest corporations and financial institutions are already looking to harness 5G – for example, Commonwealth Bank is trialling 5G for edge computing.
The high speed connectivity of 5G will provide a huge potential for businesses in the e-commerce space and will definitely transform the way people shop, signalling the arrival of the next big retail evolution and presenting new challenges and opportunities for brands.
To match the overall shopping journey, and meet consumers’ preferred payment methods in any given market, online merchants should look into the possibility of innovative new payment systems – think facial recognition authentication, social payments and invisible payments.
Source: Power Retail
Least-Cost Routing Explained
Download the PDF and receive a free annual membership offerFind Out More
PayPal Study: 38% Of Online Shopping Purchases Made Via Social Mobile Posted on: 15-11-2019
According to the new research from PayPal, social media is now a significant eCommerce force.Read More
InstaReM Rebrands To Nium, Launches Open Money Network Posted on: 14-11-2019
InstaReM, a digital cross-border payments provider, has announced its rebranding plan to to become part of Nium.Read More
Square goes up against Aussie banks with new eftpos terminal Posted on: 07-11-2019
This new payment terminal, the upsized gadget will feature a colour touch screen, accept all cards bank terminals currently do but will not lock clients into annual or monthly contracts or minimum transaction volumes.Read More
Splitit Announces Partnerships With Shopify and Divido As Well As New North American Merchant Agreements Posted on: 01-11-2019
The leading global monthly installment payment solution, Splitit Payments Ltd announced updates, and new partnerships, merchant agreements and a strengthened go-to-market infrastructure.Read More