Wireless payments are quickly rising in popularity, and since you probably have a mobile phone within reach right now, it's easy to see why. The smartphone has quickly become the go-to device for anything and everything. Now that smartphones integrate so many smart features into the fabric of everyday life, it's only natural to expect them to handle wireless payments as well. Mobile payments are helping to simply the retail experience by making the buyer journey as seamless and easy as possible.
As one of the biggest shopping events of the year, the stretch between Thanksgiving, Black Friday, and Cyber Monday serves as a microcosm of the entire retail industry. The massive transaction volumes over this period amplify existing consumer trends and can tell us much about the future of retail. Let’s look at the 2017 Black Friday metrics and trends to see how retailers can use them to their advantage moving forward.
The latest stats on EMV bring us good news about U.S. merchant chip card acceptance. The U.S. Payments Forum Fall 2017 Snapshot reports that 96% of the top 200 merchants are now fully EMV enabled and between 70 and 80% of small-and-medium-sized businesses are accepting chip-on-chip payments.
As a wireless retailer, you know that people rely on their smartphones for everything—from booking appointments and sending emails, to making calls and taking photos. And now consumers also use their smartphones to make payments. The rise of digital wallets and other mobile payment options has changed the retail environment dramatically—and it's in retailers' best interest to learn how to incorporate these payment options into their stores. In fact, a recent report from Juniper Research found that by 2021, smartphone and tablet-based mobile transaction systems will account for more than one-third of all POS systems, and process 20% of all retail transactions.
The most recent report from the U.S. Global Payments Forum shows merchant acceptance of chip cards is on the rise—and if you know a thing or two about EMV payment terminals, it’s easy to see why. EMV terminals are nothing like their magstripe predecessors; they’re S-M-A-R-T!
The 2015 EMV liability shift was implemented nearly two years ago, and a lot has changed in the world of retail since then. With all of these industry updates now taking hold, it's the perfect time to review the current state of EMV in the U.S. market.
Directly integrating to your point of sale, a modern payment system delivers a robust payment experience for both merchant and customer. From merchant services, to hardware procurement, to remote terminal solutions and everything in between, a modern payment system connects merchants to a total payment ecosystem.
Processing fees are an annoying fact of life for merchants. Complex structures and various fee types are designed to be complicated, boring, and inaccessible for merchants.
Payment processing- an industry surrounded by mystery, regulation, and misconception.
Credit and debit card processing fees are some of the most convoluted and complex aspects of owning a business.
New payment technologies have made significant strides in improving both the payment solution and overall in-store experience for shoppers. Merchants are now tasked with understanding the benefits and drawbacks of such payment innovations and are wading through the waters to find the perfect payment fit.
Gone are the days of simple swipe terminals in the U.S., where a payment could be captured using a “dumb” USB device or keyboard reader.