If you’ve seen the Jungle Book, you might remember that scene where Mowgli is under the spell of Kaa - the python. He is rescued and snaps out of the spell before he gets eaten but that scene is significant in understanding the state of retail. Today, the offline retail industry is spellbound and believes it is fighting a battle with their online counterparts that it may eventually lose. But if you ask me, this is just a spell which needs to be broken.
The holiday shopping season is in full swing and trends are pointing toward even more spending this year. The National Retail Federation announced earlier this fall that it expects holiday sales to climb from 4.3 percent to 4.8 percent over last year ($717.45 billion to $720.89 billion). How can retailers be sure to take advantage of this huge opportunity to reach their sales goals and beyond this holiday season?
Recently, while at a baseball game, I had the chance to check out the self-service kiosks the stadium was using to help with line busting at the concession stands. Fans at the venue can easily order food from these kiosks and once they reach the concession stands, all they have to do is pick up their items, avoiding the typical long lines.
While PIN on Mobile is becoming a popular topic of conversation in the industry, there is still a lot of questions out there about the solution. In my last blog post, I talked about the basics of PIN on Mobile and how it works. In this post, I discuss which vertical benefits the most from PIN on Mobile and why. While PIN on Mobile is still making its way into the US, it is important for merchants of all sizes to understand why this solution matters and how it might be helpful for their business.
Payment technology is constantly evolving and every so often we are met with new terminology and solutions in the industry. This technology is often looking to drive innovation forward and make business solutions better. Two such terms that are being discussed frequently now are ‘PIN on Glass’ and ‘PIN on Mobile.’
