When it comes to payments, consumers want convenience.
For an ISV, ISO or VAR, bringing an innovative point of sale (POS) solution to the market quickly is a big priority. However, an obstacle for many of these businesses is that their core competency is developing POS solutions and not in payments and the required technologies. Merchants of all sizes, across every vertical, expect their POS solutions to not only meet their payments needs but also enhance the overall customer experience. That’s why it is important for ISVs, ISOs and VARs to work with a payments technology partner that enables them to easily develop these solutions while at the same time assists in delivering an innovative POS experience. When partnering with the right technology partner to handle these various barriers, developers are able to focus on their core competency – creating innovative business applications.
As mentioned in Part I of this blog post series, at some point in our lives we, as consumers, have abandoned our baskets without purchasing anything while shopping online. This process, which may seem harmless from the consumer’s standpoint, is frustrating for an online merchant. They put in a lot of hard work into reaching each customer and losing them at the crucial moments of a checkout can be disheartening. If you put together all these instances of cart abandonment, the business implications can be significant and may require some intervention. The goal of these blog posts is to highlight three reasons why this consumer behavior of cart abandonment occurs and provide constructive solutions that merchants can implement immediately to curb the practice. In the previous blog post, I provided two reasons and solutions help online merchants address this issue. Here’s what we discussed:
TechCrunch recently published an article citing a new Juniper research discussing the state of contactless transactions globally. According to the new forecast, in-store contactless payments will reach $2 trillion by the year 2020. In addition, the mobile contactless payment market will be dominated by Apple to the extent that one in every two contactless transactions, consumers will use Apple Pay to buy. That got me thinking if we can expect to see similar results in the U.S.
As consumers, we’re all guilty of digital window shopping, adding items to the cart and then changing our minds when we get to the virtual checkout. No harm done, right? But for eCommerce companies, there is nothing more frustrating than an online shopper who abandons their cart at that final, crucial stage.
The end of summer is approaching, marking the beginning of the back-to-school season. Parents are gearing up their kids to get ready for their new terms. Retailers are simultaneously getting ready for all the business that is coming their way. According to a Deloitte’s 2018 Back to School Survey, total back-to-school spending is expected to reach $27.6B, or $510 per household, slightly up from $501 in 2017.