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Online retailers embrace e-commerce innovations to tackle pandemic slump

A new study has found, perhaps unsurprisingly, that 75% of online businesses in the UK are suffering because of the Covid-19 crisis. The findings come after payments platform Paysafe surveyed 1100 small to medium-sized businesses (SMBs) globally for its latest Lost in Transaction report.

Many SMBs fear that the negative long-term effects caused by the coronavirus pandemic will be just as problematic, with 45% reporting that it won’t be good for their business. Nevertheless, the shift towards more people shopping online in order to avoid physical checkouts and contact during transactions is leading many business owners to capitalise on new opportunities.

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