Evvio stresses the need for innovation in ecommerce payment technology as ecommerce in the US approaches $ 1 trillion and social commerce grows

The company’s Fluid Commerce ™ technology integrates income and expenses with fraud prevention in e-commerce networks and eliminates the need for a user to have a credit card or bank account

NEW YORK, NY / ACCESSWIRE / June 16, 2022 / Evvio, a next-generation ecommerce technology company, today highlighted the need for innovation in ecommerce payment technology as US ecommerce sales over the past 12 months have approached $ 1 trillion, according to the Commerce Department. The company’s patented technology Fluid Commerce ™ simplifies income and expenses in e-commerce networks and meets the growing needs of the industry in areas such as the metaverse, sharing economy, online games and super apps.

The demand for disruption is also evident due to the rapid increase in person-to-person or social commerce. According to Statista, social commerce is expected to grow more than 5 times from 2020 to $ 2.9 trillion worldwide by 2026. Evvio’s Fluid Commerce technology integrates revenue, expense and fraud prevention into e-commerce networks. including social commerce networks, and eliminates the need for credit cards, bank accounts, and third-party processors to allow users to participate in e-commerce. This technology addresses the current flaws in payment systems caused by payment processing taking place outside the digital markets, rather than being fully integrated into them.

“Today’s ecommerce payment systems were developed for an earlier era of merchant-to-consumer commerce. For the rapidly evolving ecommerce space, they are now inconvenient and introduce unnecessary transaction fees, delays and exclusions. at every step, “said Adrian Jones, Co. – Evvio’s founder. “We launched Fluid Commerce to meet the growing need for frictionless e-commerce for everyone. Our technology allows anyone anywhere to participate in e-commerce and earn and spend using any form of currency or stored value. Fluid Commerce brings the pleasure of instant e-commerce for users and platforms Recent reports and statistics highlight the need for our patented technology to make e-commerce frictionless. “

Additionally, according to the FDIC Domestic Use of Banking and Financial Services Survey, 16.1% of non-bank households cited “Don’t Trust Banks” as their main reason for not having a bank account. Since users don’t need bank accounts to be able to use Fluid Commerce technology, it creates a broader addressable market through the inclusion of unbanked and underbanked.

The patented technology also elevates e-commerce conversion rates by eliminating cumbersome steps. This is especially important as millennials and younger generations have grown up in the digital age and expect transactions to be instant. Over the next few decades, $ 30 trillion in wealth will go from baby boomers to millennials and generation X. This means ecommerce systems must quickly adapt to these digitally savvy generations.

“This is an exciting time for e-commerce with many fast-growing areas, from person-to-person commerce to metaverse to super apps,” said Brad Albright, co-founder of Evvio. “Our technology greatly expands e-commerce opportunities and we believe users will quickly enjoy the seamless experience and the elimination of the fees it brings.”

About Evvio

Evvio is an emerging e-commerce technology company. The company’s patented Fluid Commerce engine provides frictionless e-commerce transactions and eliminates delays and fees and the need for a user to have a credit card or bank account. It enables anyone to earn and spend securely and includes pay-as-you-go services to prevent fraud. Fluid Commerce is inclusive, giving the unbanked and underbanked a greater ability to earn and spend. Uses any digitally represented currency and offers broad applicability across a wide range of market types. The technology also expands e-commerce revenue by increasing the number of participating buyers and sellers. For more information, visit www.evvio.com.

Contact:

Central Waldenburg
MZ North America
[email protected]
973-924-9797

SOURCE: Evvio

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