How Gen Z Consumer Trends Are Impacting Payments

Generation Z, people born from the mid-1990s to early 2000s, is emerging as the next consumer force. The oldest of the 68 million Americans who are part of Gen Z are now completing their education, entering the workforce, and building wealth. Gen Z’s estimated spending power in the U.S. is as much as $143 billion, with indirect spending power of $600 billion. Just as when millennials became a predominant consumer force and ignited changes throughout the industry, ISVs and VARs will see changes triggered by the rise of Gen Z.

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COVID19: Insights and Help from Our Partners

The COVID19 health crisis has had a big impact on the economy as many businesses have been shut for a few months. Some merchants had to close shop completely, while others operated in limited capacity. Many of our partners have been discussing innovative ways to help deal with this crisis. From highlighting benefits of technological solutions to changing consumer behavior, we have listed a few posts from some of our partners and insights they have to offer:

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Retail Round-Up: How Are Retail Stores Fairing During These Unprecedented Times

As the COVID-19 pandemic progresses in the US, every industry has seen different outcomes. With many states now reopening businesses, strict social distancing guidelines are being recommended. While transportation, hotel and lodging have seen very little traffic, restaurants in a lot of states are still only allowed to offer takeout or delivery. The retail industry has also seen its share of unpredictable outcomes from grocery stores being open with strict guidelines to online sales for many retail brands going through the roof.

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The Future of Contactless Is Now

The idea of paying with your phone or your watch at a store almost seemed laughable a decade ago. The typical US consumer was so accustomed to using cash or their credit cards, they had a hard time trusting the reliability of this payment method. Contactless payments have had a slow growth in the U.S. compared to other developed parts of the world – if you look at consumers in Canada and many European nations, they have been used to contactless payments for years and the U.S. has had to play catch up since.

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Enhance Your Customer Engagement Strategy with These Four Tips

The key to running a successful retail business is by consistently engaging customers - but how do you accomplish that? With major advances in technology, many retailers are turning their attention to digitizing the checkout. While it can enhance the customer experience by making payment easier and integrating loyalty, simply digitizing the checkout isn’t enough to stand out from competitors - and getting customers coming back for more.

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