Payment Options

The COVID-19 pandemic has quickly changed the retail industry as we know it. Due to this change, retail technology must rapidly adapt to best suit the post-pandemic world that we're entering. “Post-pandemic” doesn't necessarily mean that that the pandemic has entirely ended, however. It refers to a world forever changed by COVID-19, and using innovative…

Some brick-and-mortar retailers are obligating customers to allow cashiers to keep their change as the U.S. experiences a coin shortage due to the COVID-19 pandemic, PYMNTS reported. Recently, grocery chain Kroger has been temporarily refusing to give coins out as change to customers. In these instances, customers have three options: round up their bills to…

Amazon.com is launching shopping carts that track items as shoppers add them, reports CNBC. The Amazon Dash Carts automatically charge customers when they remove their grocery bags, allowing them to skip the checkout line. These smart shopping carts will roll out at Amazon’s new Los Angeles-area grocery store, which is slated to open this year, the company…

Talk to any branding consultant, and they’ll frequently mention “consistency.” Brands should present themselves as consistent as possible, regardless of medium or customer touchpoint. This consistent approach should extend to the payment experience. Brands can draw in more customers and increase retention rates when payments and gift cards are consistently branded with a company logo…

Fast. Easy. Secure. Those are the words consumers use to describe their ideal checkout experience. But in reality, how often do those expectations ring true? Truthfully, not as often as retailers may think. Despite merchants’ best efforts to provide a smooth and seamless checkout, customers have reported that the in-store experience still isn’t always up…

The card-not-present (CNP) payment space has come a long way since the days of telephone orders. In the past few years, the market has seen an explosion in mobile app-based payments, which offer consumers unprecedented levels of convenience, albeit placing them at higher risk of CNP fraud. One thing that hasn’t changed is merchants’ never-ending…

Contactless payments have been experiencing a steep rise outside of the U.S., particularly as a result of the COVID-19 outbreak. In the U.K., where almost 50 percent of payments are contactless, the spending limit for contactless payments was increased in April from £30 to £45 so that even more transactions could be paid via this…

Retailers looking to upgrade their payment systems can be overwhelmed by the large number of merchant service providers and options to choose from. At a high level, retailers should start the process of choosing a new payments platform by assessing their needs and goals and evaluating how well the services offered by merchant service providers…

Shopping has changed as we know it. Consumers no longer stroll into stores and take their time interacting with products and people. Now, masks are mandatory almost everywhere and people try their best to stay six feet away from one another while making their way down narrow aisles. And while people are spending more money…

Overall, e-commerce sales were up 25 percent by the middle of March compared with the start of the month — and they show no sign of slowing down while people navigate the new normal of shopping. That's the good news. The bad news? An increased number of online sales comes with an even greater number of…