Digital wallets have hit the mainstream and contactless is now an everyday expectation, making this the time for retailers to put these and other new payment technologies front and center. This Retail TouchPoints report looks at some of the most important considerations around modern payment systems, including:
- Delivering on convenience: Friction is deadly at checkout and expectations are higher than ever, so retailers need to use technology to improve the process;
- Evolving security measures: One of the hurdles of any new payment technology is helping shoppers feel comfortable with its use, which means making data safety a high priority;
- Using the right methods for the right purchase: Buy now, pay later (BNPL) is gaining momentum, but it isn’t the right choice for every kind of transaction, so retailers need to understand where and when to use it; and
- Integrating omnichannel capabilities: Payment systems can (and should) operate across channels, and achieving this holy grail will be a big win for speed and personalization.
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