Whether we like it or not, the evolution and use of consumer technology continues to impact how consumers engage with brands and make purchases. Think about your smartphone, for example, who would have thought 15 years ago that we’d be using it to make both online and in-store purchases? While much of the technology consumers use every day was destined for the retail world eventually, the COVID-19 pandemic played a critical role in catalyzing the use of many technologies.
Ever since Mastercard announced its efforts to make contactless payments even more secure the industry has been buzzing with questions. From what the technology is to how it will benefit the industry and the players in it. Even though Ecos is in its early stages, it is important to have these conversations and better understand how it applies to everyone from the merchant to the end consumer.
The COVID-19 pandemic has changed travel and hospitality forever. 2020 saw many hotels and flights go empty for long periods. But with additional precautionary measures, CDC guidelines and the start of the vaccine rollout in the US, things are starting to look up. Most importantly, consumer confidence is making a comeback. According to Deloitte’s State of the Consumer Tracker, the percentage of US adults who feel safe staying in a hotel (46%) and flying (34%) reached their highest levels since April 2020. As hotels and travel organizations look to boost their business they need to keep a few things in mind:
The retail experience has changed in many ways over the years with advancing technology, but one major factor that has made an impact is payment security. According to the new survey from Ingenico and FreedomPay, “Emerging Trends at the Point of Sale,” security is the highest concern merchants have around the adoption of different payment methods.
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