For ages, retailers have used similar layouts in their stores, with the point-of-sale being a crucial part of store design. Cash registers and the equipment necessary to facilitate transactions are located near the exit and are often the last stop in the shopping process.
Those smartphone devices that customers use to call your customer service line, read your marketing emails and browse your app will take on an additional role in the near future as key payment tools.
Starbucks may be known by customers as a trendy coffee house, but in the business world, its fame stems from something else entirely: it’s innovative approach to mobile payments.
It’s no secret that quick-serve restaurants have been some of the pioneers of the mobile payments landscape.
Few devices have transformed business operations over the past five years as much as smartphones and tablet devices.
Research firm eMarketer recently released its latest mobile payments forecast and found that contactless transaction values are set to hit $58.42 billion in the U.S. alone by the end of 2017.
While a variety of industries are implementing mobile payment schemes, the restaurant sector in particular seems to be embracing them, with many businesses looking to offer their customers with the additional flexibility of paying by their phones.
While payment cards won’t disappear in the near future, U.K. Cards Association members believe that mobile payments will continue to grow in popularity until they eventually do replace credit and debit cards.
Mobile payments aren’t the go-to solution right now.