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That inherent distaste for the transaction phase is one reason payment companies are so eager to expand into other parts of the shopper journey. Embedded finance has become big business: McKinsey estimated that the sector reached $20 billion in revenue in the U.S. Denise Leonhard, VP and GM, Venmo.
It was an eCommerce pioneer back in 2006, then expanded to iPad POS in 2013, and now it basically runs the world. For example, you can’t process offline sales with Android, and the POS hardware bundles Shopify sells are all made for iPads. Shopify is also compatible with external payment processors (for an additional fee).
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Consumers were finally given a way to access merchandise at much lower prices than what was available from nearby merchants. Trying to seamlessly integrate two different cultures, different systems and processes is hard for even the strongest of companies. It was a runaway success. His next wave of brilliant insight? Retail stores.
Told us very clearly that we don’t really care about great software what we care about is a great product or a great service which helps us in packaging and shipping so that influence the decision-making right. for a merchant they want that unboxing experience to represent their brands you know.
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