PXP Financial launches new report ‘Supporting Businesses and Payments through COVID’

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PXP Financial has launched its ‘Supporting Businesses and Payments through COVID’ report, advising businesses in gaming, retail and hospitality on best payments practice throughout the ongoing COVID-19 pandemic.

Split into three designated sections and led by an in-house expert in gaming, retail and hospitality, it provides these sectors with a deeper understanding of some of the problems they are currently facing. Utilising the knowledge and experience of PXP Financial’s expert team, the report tackles some of the biggest challenges brought about by COVID-19, and in turn lockdown – from its impact on consumer behaviour and sacrifices to customer experience, as well as how to reshape the payments process by utilising innovative payment technology to overcome issues. 

Retail

Koen Vanpraet, CEO of PXP Financial commented on the issues facing the retail sector: “The retail sector has undoubtedly been strongly hit by COVID-19, not only through the closing down of in-store operations but also by changing customer spending habits, expectations and preferences. The retail industry is accelerating into a different era than the one we saw only one year ago, and retailers need to keep up if they want to survive the change."

Hospitality 

Adding to this from the perspective of the hospitality sector, Franco del Basso, Director at PXP Financial said: “Understandably, the hospitality sector has suffered as a result of COVID-19 and the restrictions put in place to keep the public safe. Restaurants, hotels and cruise ships have been forced to stop or limit their services, disrupting travel and making eating out far more complicated. Now that we are moving out of lockdown and these businesses are being allowed to reopen, they are faced with a need to radically change how they operate, and this is being supported by technology.”

Gaming 

While gaming expert and Board member at PXP Financial Kamran Hedjri contributed: “In line with all the other industries, physical and in-store, gaming and betting was massively effected during the initial phase of the COVID-19 lockdown. However, there is still a great opportunity to support this sector as the slow down to gaming was more limited than with other sectors.”