The new year is here and ISVs, ISOs and VARs continue to play a crucial role in delivering innovative business solutions into the markets they serve. But for many of these organizations, payment technology is not a core competency, and it doesn’t to be.
U.S. customers are no stranger to the PIN when it comes to debit transactions while they shop with large retailers. These retailers are using full POS solutions with PIN pads or touchscreen PIN entry to securely process its transactions. What’s less common here — but is widely accepted in the U.K. and Europe — is paying with a credit card and PIN.
We live in an experience economy and every business is trying hard to emotionally engage with their customers to make their shopping journey a positive one. Today, the market is filled with similar products and services and this pushes customers to pay close attention to the overall experience. How they grade these experiences can determine if they will spend money with that business again.
The Internet of Things (IoT) may sound daunting to someone unfamiliar with the tech industry, but it doesn’t have to be that complicated. Plainly put, IoT is the network of connected ‘things’ which are embedded with sensors, software and network connectivity. This connectivity allows these devices to continuously collect and exchange data. Did you know that your Smartphone is actually an IoT device? With the steady rise of online retail giants, there is an overwhelming misperception that brick-and-mortar shopping is a thing of the past. Although online shopping has its clear advantages, physical stores are utilizing ways to advance their technology and keep their customers returning in-person. One of these approaches? IoT.
All any retail business wants for this holiday season is their customers to be happy and their revenue to increase. However, over the years, eCommerce sales have grown compared to in-store. With the success of giants like Amazon and other players in the market, brick and mortar businesses have started to think about reaching their customer base in new innovative ways and get them back into the store. But maybe, it is not about that. Consumer preference on how they shop are evolving and they are using each channel differently.
