Payment Options

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…

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 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…