U.S. customers are no stranger to the PIN when it comes to debit transactions while they shop with large retailers. These retailers are using full POS solutions with PIN pads or touchscreen PIN entry to securely process its transactions. What’s less common here — but is widely accepted in the U.K. and Europe — is paying with a credit card and PIN.
Building loyalty isn’t just about gaining new customers but providing an experience for the existing ones to keep coming back for more. Mobile payment applications have created a tech-savvy way of engaging customers while providing a range of benefits for both them and the retailer.
Expectations for the in-store experience have greatly evolved in the last few years alongside changing payments technology, online options and more. Customers assume they’ll be met at each touchpoint with convenience, speed and innovation, and -- if you want to keep up with competition -- you need to anticipate these needs.
You probably didn’t realize it, but the future of payments is already here. While you may not be able to ride a hoverboard Marty McFly-style to work each morning, you can use your smartwatch to pay for your coffee on the drive-in. Wearable technology – some of the most futuristic consumer technology innovations – is here, and is enabling nearly invisible payments.
Do you remember the wonder in your eyes when mobile wallets were first introduced? The idea of just simply tapping your smartphone on a payment acceptance device to pay seemed magical and in many ways, it was! The fact that you didn’t even have to take your credit card out seemed like a dream and it made you think that someday you could leave your wallet behind at home.
