The new year is here and ISVs, ISOs and VARs continue to play a crucial role in delivering innovative business solutions into the markets they serve. But for many of these organizations, payment technology is not a core competency, and it doesn’t to be.
Customer experience is one of the most talked-about topics for retailers today, in any segment, in-store or online. This includes providing choice, prioritizing personalization and innovating wherever possible. But what we don’t talk about as often is the importance of showing you value your customer’s time.
Self-service innovations in the quick-service restaurant (QSR) space, including mobile order-ahead and in-store kiosks, are booming. The self-service kiosk market is expected to reach $30.8 billion by 2024. This ramp-up is likely because these innovative ordering and guest service options have been shown to improve order accuracy, increase average ticket value, reduce wait times and help collect data to inform how to better serve guests. This makes QSRs happy and it also delights the guest (or so that’s the goal). When implemented properly, these new technologies can create a positive and memorable guest experience. However, if it’s not implemented properly, that memorable experience may not be a good one.
The U.S. travel industry as a whole has been on a steady incline since recovering from the economic recession a decade ago. Companies can compete by offering unique experiences to their customers in whatever travel-related vertical that they’re in. Millennials are especially known for craving unique experiences, and 77 percent of them will use all or most of their vacation time this year. Let’s take a look at some recent technologies that are beginning to impact the way we travel, whether it’s in transportation, hospitality or restaurants:
Biometrics today, such as fingerprint readers and facial recognition, are making the payment experience more secure and seamless for consumers. Biometrics have been widely used in other industries including law enforcement, healthcare and voter registration for several years. In the past, authenticating a person came only in the form of either something you have (a key, a badge) or something you know (a PIN, a password). A password is more difficult to steal than a physical object, but it can still be done. Biometrics today also verify identity based on characteristics unique to the person which cannot be stolen or replicated (for the most part).
