Retail Industry and Payment Options


Retail Industry and Payment Options

  2016-08-23
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The advent of new disruptive technologies, retail industry is all set to take full advantage of different market offerings. North America being a leading market for technological breakthroughs, the region will witness tremendous market changing moves in the future. New payments will soon sweep the retail industry, as companies such as Apple have come up with payment platforms that will enable better and safer payment environments. Rising mobile payment trends and EMV mandates in the United States would largely drive the payment market and new payment methods would eventually rise. Newer payment terminals would also empower retailers to abide by the compliance rules and offer better and superior security measures.

Mobile will play a pivotal role:

Making payments has never been easier. It is a well established trend to pay using mobile phones. Traditional shopping methods will soon be put to sleep, as new mobile trends would allow customers to pay as they shop. Retailers all over the world are increasingly experimenting with mobile technology for the purpose of payments. Many large companies are also providing platform to shop online via the mobile, and pick the products from the stores. Companies such as Walmart are using mobile technology to send notifications to the clients about the product. Retail trends and technological breakthroughs will be a great combination, as businesses around the world would fully leverage the market opportunities and bring in differentiated products in the market. Competitive environment would witness new levels, as different sized businesses would enter the market with powerful strategies. Due to seamless integration of different technologies, consumers may eventually stand as gainers, leading to a new business landscape.