Not since the Great Depression has America’s economy been in such a precarious situation. Although the country has stopped hemorrhaging jobs at an unprecedented rate and unemployment has dropped to 8.4%, industries still face severe challenges.

First and foremost, companies must contend with the marked shift in consumer behavior brought on by the pandemic. With COVID-19 continuing to spread and a vaccine months away, people are shifting their commercial activity away from physical stores and towards digital channels. Even the physical stores that remain open are changing, with many offering curbside pickup, expanded delivery services, and contactless payment options, among other changes.

Faced with all these changes, companies have their hands full just trying to deal with the present. This makes developing new initiatives, strategies, and plans for the future more difficult than ever before.

To better understand what solutions exist for companies looking to navigate the current crisis while also preparing for future growth, PaymentsJournal spoke with Sarah Grotta, Director of Debit and Alternative Products Advisory Service at Mercator Advisory Group. During the discussion, Grotta explained how Mercator Advisory Group is well positioned to help companies in the payments industry adapt and thrive in these uncertain times.

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Ideas and initiatives for future growth are not getting the attention they deserve

The payments industry is no exception to all the economic disruption wracking the world.

As digital transactions volumes go up and the need for online financial services expands, financial institutions need to develop the necessary infrastructure, expertise, and product offerings to keep up. Due to disruptions in normal business operations, accounting and billing departments are scrambling to