After a huge surge during the pandemic, growth in online shopping is slowing. Inflation and worries about a possible recession have cast a cloud over retail. Payments players sit at the intersection of these factors.
“There was a catapult during Covid, and then there’s a normalization now,” said Brian Dammeir, president of North America at payment processor Adyen. Looking ahead, he thinks the share of retail sales completed online will increase “a few single-digit percentage points every year.”