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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Drive Digital Transformation in Your Business with Cloud-Based POS Services

Cloud-based POS solutions have been trending upwards over the last two years, with more ISVs offering their small and mid-sized customers an alternative to traditional on-premises, server-based POS systems. While retail ISVs are on the front lines of this evolution, other segments are following suit to meet customer demand. According to Hospitality Technology’s 2018 POS Software Trends Report, 61 percent of merchants said they want their next POS system to be cloud-based.

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Single Certification: Why It’s Worth It

Payment solution certifications are notably one of the biggest pain points for Independent Software Vendors (ISVs). Terminals and mobile card readers are getting more flexible, checkout methods are becoming more varied and retailers are looking to expand their offerings to include new options like NFC/contactless and QR codes. In the midst of all this change, ISVs feel the pressure to develop and certify a broader range of solutions for the industries they serve.

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How Professional Services Can Solve the Challenges Merchants Face Today

Payments are a major part of retail - and they’re constantly changing. Payment acceptance devices need replacement, software requires upgrades and keeping up with fluctuations throughout the industry can be a challenging task. Frequently, for merchants, there are many questions to be answered when it comes to payments and hiring a dedicated payments expert to answer them can be a significant financial undertaking.

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