Predictions for retail, payments, and mobile in 2017

The point of sale and retail industries have been shaken up in recent years with the rise of new payment technologies. From mobile wallets to on-demand apps, and consumer demand for a more personalized and interactive shopping experience, merchants big and small are facing a new wave of expectations from customers…

Making strides in mobile payments: In 2017, consumers will continue to convert to the mobile wallet. Realizing its ability to create a fast and seamless experience, consumers will opt to replace their credit cards for mobile wallets and NFC technology. With all the major players in the mobile device industry having delivered their own version of the mobile wallet (e.g. Apple Pay, Android Pay, Samsung Pay),  and Apple Pay reporting a growth of one million new users per week, this technology will continue to make strides in the coming year.

Beefing up retail: Consumers will push for a more personalized shopping experience in 2017. With the consumer in the driver’s seat, retailers, big and small, will be forced to adapt and rethink their approach to attracting customers. They will need to think outside the box and consider using interactive screens, pop-up shops, recreation and virtual reality that combines a visual and sensory experience for customers. By embracing these types of changes and incorporating them in the coming year, small business merchants will be able to provide an elevated experience that keeps customers coming back.

With 2017 fast approaching, the POS and retail industries must continue to adapt to the constant changes in payment technologies. By updating their POS systems, preparing for future trends, and implementing the suggestions as outlined above, these merchants will begin to streamline processes and deliver an improved experience for customers. Read the full article here

 

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