Payment Options

We live in the age of embedded finance, where non-financial organizations are seamlessly integrating financial services into their customer journey. In fact, most major retailers have added a third-party financing service to their checkouts — like Klarna or Afterpay — to offer split payments, point-of-sale (POS) installment loans, and lines of credit. But there are…

Thanks to advances in technology, QR codes are becoming increasingly embedded in the customer experience. From retail to quick-service restaurants, their use for payments is on the rise. In fact, it's predicted that the number of U.S. smartphone users scanning a QR code will increase from 83.4 million in 2022 to 99.5 million in 2025. As…

Historically, marketers have relied on the 4 Ps — Product, Price, Place and Promotion — to inform their marketing strategies. These foundational components help companies satisfy the dynamic wants and needs of the consumer, while also meeting the demands of the business. However, rapid advances in technology, magnified by the pandemic, have fundamentally changed consumer behavior, particularly the way…

“Society is unity in diversity,” wrote philosopher George Herbert Mead. Retailers today are faced with the checkout challenge of unifying consumers’ payment preferences, which have never been more diverse. Payment technology plays an essential role in ensuring customers’ transactional expectations are met and even exceeded, so they return again and again. “Can I pay with…

As readers of this article likely know, customers can use the buy now pay later (BNPL) option to make purchases — both in-person and online — without having to pay the entire price of the goods at the time of purchase. Like the layaway plans from the past, BNPL allows customers to spread out their payments if…

If you're just starting a business and you haven’t opened a bank account before, you probably don’t know that it can be an overwhelming process to have a bank account in the name of your business. Depending on where you reside and register your business, many requirements need to be fulfilled, ranging from capital expectations,…

Buy now pay later (BNPL) began as an online pay-over-time option, which has surged since the pandemic. The global BNPL market is projected to grow up to $22.86 billion this year. BNPL has extended to brick-and-mortar stores: As economies see in-store shopping returning to normal, consumers demand seamless and convenient payment methods like BNPL. Retailers…

Our current merchant payment systems are a ball and chain around our feet, dragging the industry down and driving up costs for merchants and consumers alike. If we're ever truly going to move to the digital economy — including the ability to purchase using cryptocurrencies — we must modernize and create a new streamlined payments infrastructure. Merchants…

The National Retail Federation (NRF) has joined bipartisan U.S. lawmakers calling for Mastercard and Visa to hold off on their planned credit card swipe fee increases, which are scheduled to go into effect later this month, the trade group announced in a press release. The group cited a letter sent to Visa and Mastercard from both Republican…

In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews David Roessler, director of payments, and Michael Habermann, director of fraud services at Radial, the leader in omnichannel e-commerce technologies and operations. Roessler and Habermann discuss how merchants can optimize their checkout experience from fraud and payment perspectives, why new buy now, pay…