What retailers need to know about the future of payments
Payments — currencies, platforms, programs and systems — are ripe for change and thanks to technology, at a tipping point. Interest in blockchain and cryptocurrencies has reached a fever pitch and while much of the hype is just that, there are very real and compelling advancements afoot that promise to bring real change to retail.
And it can't come too soon. New generations, both millennials and Gen Z, are driving this and merchant systems that don't accept mobile wallets could suffer the consequences as spending shifts to those that do. Early movers include Amazon, which is reportedly developing new payment solutions including checking accounts for this, our youngest generation.
In the content below, we take a closer look at the future of payments. So fasten your seatbelt, it's going to be a bumpy ride as retailers and solutions providers embark on this digital journey.
Most major retailers are adopting scan-and-go options, but just walk out technology, facial recognition and personalization are all likely to guide the future of in-store payments. Read More »
Less than three years after the EMV liability switch, and many retailers are still on the sidelines but already looking toward the next stage in the evolution of payments. Read More »
They love stores, they love experiences, they visit bank branches more often than Baby Boomers. So how likely are younger consumers to pay with their phones? Very, experts say. Is your POS ready? Read More »
As Alipay expands in North America, mobile payments players here have a lot to learn, and perhaps something to fear. Read More »
AmazonGo may be the impetus, but a host of new technologies are about to change how shoppers pay for goods, writes Manolo Almagro, managing partner at Q Division. Read More »
Stephen Silver Fine Jewelry now sees 20% of its sales coming from cryptocurrency payment processing, surpassing credit card purchase volume. Read More »
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