Biometric Authentication in Retail: What the Future Holds
Google’s recent decision to offer biometric authentication to Chrome users is just the beginning. In both the online and offline space, more companies — including multi-location retailers — have begun using biometric authentication in payments as a way to cut down on credit card fraud and chargebacks.
6 Buy Now, Pay Later Solutions for Retailers
Retailers that don’t start offering flexible payment options on their checkout pages soon risk losing shoppers who prefer the unconventional approach to financing, especially for more expensive items. Flexible payment solutions tout bigger carts, customization, and faster transactions among their benefits.
Popular Global Payment Options for Better Conversions and Customer Loyalty
Technology has made it easier than ever for e-commerce businesses to sell to global markets, and shoppers are growing more accustomed to making purchases regardless of geographical borders. What customers still demand, however, is a shopping experience that is localized and relevant to their own cultural preferences, including method of payment.
Contactless Convenience Is the Next Normal
SYKES for FinTech recently conducted a survey to assess new consumer trends and discover how Americans view the next normal. SYKES polled 3,000 adults about their experiences with contactless financial technology (FinTech), like mobile banking, as well as touch-free purchasing, curbside pickup, delivery services, and other contactless customer experiences. The survey responses offer insights into the marketplace of tomorrow.
No Longer Alternative: The Rapidly Approaching Future of Local Payment Methods
In Asia, consumers typically prefer mobile e-wallets. Various bank transfer methods are popular across Europe. And in Latin America, many consumers rely on cash to pay for online shopping. These local payment methods (or LPMs) have been previously referred to by the industry as alternative payment methods (APMs), but the reality is that they are — globally speaking — no longer the alternative. These LPMs facilitate the needs of different geographies, cultures, and domestic economies across the globe.
Yet despite the fact that most consumers across the globe rely on LPMs, we’re still seeing a lack of adoption of these payment methods by online merchants in the US and UK. But, as we dive further into the digital age, it is a matter of when, not if, the trend will need to shift. Let’s explore the unique factors driving consumer behavior, payment preferences, and how merchants can best position themselves for the future of commerce.
Retailers Find New Marketing Opportunities with Wearables
A recent announcement that Amazon, Apple, Google, and the Zigbee Alliance are working on an open-source network standard is likely to lead to even more investment in connected devices among retailers. The open-source network that the group is working to develop is supposed to make life easier for IoT hardware vendors and software developers, but it also serves a secondary purpose of assuring retailers investing in connected technology that their budgets aren’t being wasted. With a common IoT communication and control standard, smart devices will be even more reliable and seamless to use in the coming years.
“Open source will bring businesses more agility and enable them to process data quickly while simultaneously producing valuable insights,” says Heikki Nousiainen, chief technology officer at Aiven, a firm that develops managed cloud service hosting for software infrastructure services.
Restaurant POS System Trends to Look Out for in 2019
2019 is all about connectivity when it comes to POS systems. The role of the POS system, used primarily for billing, has evolved into an operations hub that connects all your online order sources, guest-facing technology, and your kitchen (via Kitchen Display Systems). It’s the foundation of a technical system that helps you manage your restaurant operations better on the whole. Here are the cutting-edge trends.
Swipely CEO: We Want to Provide the Operating Platform That Restaurants Run On
“If you’re not going to fundamentally improve the guest experience, then there’s really no motivation for either the consumer to change the way that they’re buying in the restaurant or for the merchant to replace the operating practices they have,” said Swipely CEO Angus Davis about mobile payments.
#LDS15 VIDEO: How MasterCard Uses Its Payments Data to Understand Customers
During a presentation at Street Fight’s Local Data Summit in Denver earlier this month, Cristobal von Walstrom, vice president of location intelligence at MasterCard Advisors, said that the company is adding information to a 10 petabyte database at a rate of 160,000 transactions per hour, which deliver a range of insights about the businesses where those transactions take place…
On Street Fight: Facebook’s Video Pages, Food Tech’s Dilemma
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology…Facebook Challenges YouTube Channels With New Features For Pages (TechCrunch)… The Greasy Underpan Of Restaurant Tech (TechCrunch)… Have Online Payments Become Safer Than Offline? (Wired)…
Street Fight Daily: xAd Raises $50 Million, iWatch to Include Payments
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Location Is Everything, As Mobile Ad Startup xAd Raises $50M Led By IVP (TechCrunch)… Apple Watch to Allow Mobile Payments (Wall Street Journal)… Interpublic Invests in Mobile Measurement Company Placed (MediaPost)…
How Innovation in Payments Can Drive Local Marketing
The changes in payments that Seth Priebatsch foresaw three years ago are certainly underway, but it remains more of a revolution than an evolution. Street Fight caught up with the LevelUp CEO recently to talk about why he thinks transaction data is the foundation of the next big wave of innovation in the marketing industry…
Street Fight Daily: FoodPanda Raises $20M, Millennials Drive Mobile Bookings
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology.… Foodpanda Gobbles Up $20M In Fresh Funding To Fatten Its Global Pawprint (TechCrunch)… How User Reviews Are Gutting Brands (MediaPost)… Last-Minute Millennials Drive Mobile Bookings, So Make it Easy (Skift)…
Swipely Raises $12M to Expand Push Into SMB Payment Analytics
The payments space is starting to settle down. The flow of seed funding has slowed, and a handful companies have separated from the pack, raising meaningful capital over the past year. Add Providence-based Swipely to that list. The payments processing and analytics play has raised $12 million in new funding in a series B round led by Shasta Ventures…
Street Fight Daily: Apple Buys WifiSLAM, NYU’s Hyperlocal Finds New Home
A roundup of today’s big stories in hyperlocal content, commerce, and technology.… Apple Acquires Indoor Location Company WifiSLAM (Wall Street Journal)… Changing Trains: The Local East Village, NYU’s hyperlocal blog, Moves from The New York Times to New York Magazine (Nieman Lab)… Local Search Service Roamz Shifts Again – Now “Local Measure,” Startup Brings Geo-Based Data To Businesses (& Gets Them To Pay) (TechCrunch)…
The Covid-19 Pandemic at One Year: How Payments Have Changed Forever
The payments industry will move forward from the seismic shifts in behavior we’ve seen to new puzzles: how to make a card top of wallet, how to expand the on-demand economy to new product groups, and how the Buy Now, Pay Later space evolves in time. But the changes we’ve seen will impact the course of the industry for years to come. How merchants and payment providers adapt to these changes will have a key part to play in how they recover from the impact of the pandemic.