Reimagine Retail with the Point of Decision in Mind

Retail checkout is changing. As consumers across the globe get used to more flexible shopping experiences, retailers are adjusting their technology needs accordingly. Not too long ago, most stores only had fixed checkout lanes. Whether you were shopping for groceries, apparel, appliances, or computers, you could only pay for that merchandise at a fixed location within the store. While the point of decision for the consumer has always been the moment when they selected the merchandise and decided to purchase it, the transaction took place at a different location in the store. Retail experience needs to be reimagined for the new customer.

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Maintain the Health of Your Payment Tech Investment with Estate Management

“Begin with the end in mind” is keystone habit number two from Stephen Covey’s 7 Habits of Highly Effective People. For an ISV or merchant with large payment infrastructure, the chances are high that they will eventually need direct access to their fleet of payment terminals. Technical teams may be asked to update a newer EMV or alternative payment standard, schedule seasonal advertising, or track terminals for a P2PE Validated Solution. Without an effective plan in place to manage all terminals can result in inefficiencies for the business in many ways:

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Four Ways SMBs Can Meet Post-Pandemic Customer Needs

When the pandemic hit in early 2020, consumers were shopping online for essentials and nonessential items alike. According to a Deloitte report, as of May 2021, 71% of consumers feel comfortable shopping in stores. However, their shopping preferences are forever changed – only 27% will return to their pre-pandemic shopping habits. For SMBs, that means stepping up to meet changing customer expectations.

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Six Ways Technology Has Changed Traditional Payments

Payments experiences have changed significantly over the last few decades. Improved technology, customers’ needs for convenience, security measures and regulations have all helped transform how we pay for goods and services. If you look back at history, cash was the predominant mode of payment for a while. Soon after, checks became a practical option for large ticket purchases, allowing shoppers to carry less cash. Then came the plastic credit and debit cards – allowing consumers to have thinner wallets but larger purchasing power.

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Has the Retail Consumer Changed for Good?

Consumer trends are always evolving. The use of new and improved personal technology enhances consumers’ lives and pushes them to expect similar experiences in everyday environments. The COVID-19 pandemic changed many things for retail stores and consumers alike. eCommerce grew by 44% in 2020 as consumers stayed at home at the peak of the health crisis and bought most things online. It also catalyzed the evolution of the shopping experience – including use cases such as, curbside pickup, BOPIS, etc. The question that lingers right now is are these trends here to stay for good? And if they are, how can retailers continue to drive more in-store traffic?

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