Payment Options

The 5th 'P' of Marketing
September 21, 2022 at 1:10 pm

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…

Checkout Check-Up: Meeting Americans’ Diverse Payment Preferences
August 4, 2022 at 3:21 pm

“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…

What Does the Buy Now Pay Later Trend Mean for Retail Payments?
August 3, 2022 at 9:57 am

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…

Can E-Commerce Businesses Leverage Digital Banks to Their Advantage?
July 12, 2022 at 3:29 pm

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,…

Why Retailers Should Offer BNPL Both Online and In-Store
June 21, 2022 at 4:31 pm

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…

Merchants and Crypto: Money Loser Today, New Opportunities Beckon
April 28, 2022 at 4:41 pm

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…

NRF: Mastercard, Visa Hold Off on Planned Credit Card Swipe Fee Increases
April 18, 2022 at 6:17 pm

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…

Radial Payment and Fraud Leaders on Optimizing Secure, Seamless Checkout
April 13, 2022 at 6:54 pm

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…

The Rise of New Retail: 3 Ways Autonomous Retail is Shaping the Future
April 5, 2022 at 10:13 am

Before the pandemic took hold in 2020, the unattended retail industry sat at a tipping point. A once cash-based industry that started in vending, the shift toward autonomous retail had been driven by widescale acceptance of cards and mobile wallet payments, not to mention by consumer expectations for digital payment solutions. This, in turn, enabled…

Walmart Sues BJ's Over Self-Checkout Technology
March 24, 2022 at 3:00 pm

Walmart and its big-box warehouse subsidiary Sam’s Club are suing rival retailer BJ’s Wholesale Club, accusing BJ's of stealing technology that powers a popular self-checkout option in the Sam’s Club mobile app. The lawsuit, filed in federal court this week, claims Walmart worked for years to develop Scan & Go, a feature that lets Sam’s Club…