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.
With Apple’s recent announcement of Tap to Pay on iPhone, use of mobile devices to accept payment at the point of sale continues to gain traction. With that in mind, I thought it was important to discuss the differences between PIN on terminal, PIN on glass and PIN on mobile, as card authentication will continue to play a big role in how tap to pay on mobile devices will ultimately work.
If you needed evidence of the rise of cryptocurrency in the US, you only have to look at the 2022 Super Bowl’s advertising. Of the many cryptocurrency-centric ads, Coinbase’s was so popular, it crashed its app within seconds. With crypto’s growing popularity, I’ve received a lot of questions on how it might impact retail, and in particular, the in-store payment experience.
While NRF 2022: Retail’s Big Show was very different this year due to COVID, it was still a show filled with meaningful conversations and strong display of innovation across the exhibit hall.
One thing that always excites me about NRF is that there are Ingenico solutions across the area. Whether in the dining and check-in facilities of the venue, my hotel or even on the train from Boston to NYC, it was great to see our solutions being used across a variety of use cases.
As we close out 2021 and begin 2022, we see a retail landscape that’s very different than it was two years ago. The global COVID pandemic served as a catalyst for the evolution of how consumers prefer to shop. For example, Accenture predicts an increase of 169% in online purchases from new and low-frequency users. This is just one example of how consumers have pushed toward the convenience of digital services to fulfil their shopping needs.
