3 “Spring Cleaning” Suggestions for Payment Technology

 

Winter is over and spring has sprung! You know what that means… spring cleaning, getting rid of old things and making room for the new. It’s also the perfect time to update, consolidate and/or refresh your payment technology. Technology and your business needs are constantly evolving, including your payments solution. It’s important to stay on top of your product lifecycles, make sure all your systems work together seamlessly and be in the know of what’s new in the market. With that in mind, here are three suggestions for your business to consider this spring:

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Optimize Retail Customer Experience: Ask Yourself These Questions

Revamping the customer experience is all the hype in 2019 and according 451 Research, optimizing the checkout is central to providing a good in-store experience. All too often, customers abandon carts because of long lines. In fact, 56 percent of consumers can recall doing this at least 1 or more times in the last six months. If you’re still not convinced that a frictionless checkout is important, consider Amazon’s 1-Click technology that is worth billions thanks to its method of capitalizing on impulse purchasing.

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Biometrics Payments: Where Are We Headed?

 

Biometrics today, such as fingerprint readers and facial recognition, are making the payment experience more secure and seamless for consumers. Biometrics have been widely used in other industries including law enforcement, healthcare and voter registration for several years. In the past, authenticating a person came only in the form of either something you have (a key, a badge) or something you know (a PIN, a password). A password is more difficult to steal than a physical object, but it can still be done. Biometrics today also verify identity based on characteristics unique to the person which cannot be stolen or replicated (for the most part).

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Buy Online Pickup In-Store: Everything You Need to Know

Buy online pickup in-store (BOPIS) is an increasingly attractive option for consumers. According to Business Insider, 68 percent of US consumers have made numerous click-and-collect purchases. What’s more, 50 percent of shoppers said that being able to pick up their order in-store has influenced their decision of where to shop. The data speaks for itself and in addition to the strong desire from consumers, there are benefits of click-and-collect purchases for businesses when it comes to providing a great customer experience and maximizing revenue. Let’s take a look at a few of them:

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3 Retail Opportunities to Embrace in 2019

There was a lot of discussion about “the retail apocalypse” in 2017 and 2018, but the data tells a different story. Retail sales have been growing gradually since November 2009 on a year-over-year basis, according to the National Retail Federation (NRF). Additionally, 2018’s holiday season sales hit record numbers: according to Mastercard’s SpendingPulse report, which records data from November 1 to December 24, holiday sales increased 5.1 percent over 2017, the biggest growth in six years. This tremendous boom of retail spending in 2018 and continuous growth year after year suggests 2019 may be even bigger.

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