COVID-19 has brought its impact on every aspect of life globally. Are you interested in the current COVID-19 impact on payments and online marketplaces? In this article, you’ll find interesting stats concerning Visa Inc. and eBay Inc. after the impact of COVID-19. Moreover, you’ll get help with the best credit card processing reviews in the U.S.
Visa Remains Profitable: Credit Card Processing Reviews
Though COVID-19 hits, Visa Inc. hasn’t lost its profitability. As the payments giant reports, its Q2 profit increased by 4%. For the same period, the company saw a 5% increase in the overall payments volume. Visa’s largest market U.S. accounts for 46% of the overall volume.
As for your own business, what changes are you faced with currently? Are you wondering how you can increase sales and reach out to more customers? One thing is certain: you should find a reliable payment processor to work with. Finding one can’t be challenging if you turn to a respectable payment processor comparison specialist in the U.S.
Thanks to a trustworthy merchant processor comparison expert in the country, you can stop worrying about where you can find the best credit card processing reviews. Only, make sure the comparison specialist guarantees the most reliable and unbiased review of credit card processing companies.
eBay Volume Rises by 26%
Now, let’s focus on the online marketplace eBay Inc. The company’s volume grew by 26% since consumers began placing orders from home when COVID-19 appeared. The platform started seeing an amazing rise in eCommerce purchases.
In Q2, eBay saw its volume soaring 35% in the U.S. and growing by 26% internationally. This resulted in a situation where merchandise volume had a 29% increase during the mentioned period. So, eBay grew its volume by $5.9 billion during the last quarter as compared to the decline of $4.4 billion in all of fiscal in 2019.
According to eBay, the company’s growth will decline in the 2nd half of 2020. This means investors can’t anticipate anything like the 29% volume rise to apply to the broader fiscal year.
As you see, COVID-19 has resulted in immense changes in payments and online marketplaces. Visa and eBay have reported growth caused by COVID-19.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of credit card processing reviews. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.