Remove 2022 Remove Consumer Remove Payment Services
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Holiday Shopping Trends and Payments Innovations: Experience as Competitive Advantage

Retail TouchPoints

As the holiday shopping season approaches, retailers face increased pressure to facilitate a seamless and secure shopping experience. Payments technology is central to the shopping experience. Innovations like biometrics and tap-to-pay have transformed how, when and where consumers shop.

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Rethinking Retail Returns

Retail TouchPoints

Consider these facts: total returns amounted to $743 billion in merchandise in 2023 and in 2022; approximately 16.5% Returns negatively impact brands in several ways including processing costs, shipping fees, unsellable merchandise and more. of all purchased goods were returned to retailers.

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Apple to Expand Further into Payment Services with Built-in BNPL Option

Retail TouchPoints

At Apple ’s 2022 Worldwide Developers Conference (WWDC), the tech giant unveiled a slew of updates for its impending iOS 16 release, including a new buy now, pay later (BNPL) option that will be incorporated into Apple Wallet. At launch, Apple Pay Later will only be available in the U.S.

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How AI is being used to simplify backend systems and processes

Inside Retail

Artificial Intelligence (AI) is being increasingly used to simplify, automate and optimise backend systems and processes across the retail sector. In one successful example, a major consumer goods company used AI to predict future store and online sales. The result is better efficiency, speed, accuracy, and cost savings.

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Embedded Finance: Making Payments Possible in New Frontiers

Retail TouchPoints

If we thought the pandemic-driven shift to digital payments was an evolution, we’re about to be catapulted into a new world, where payments will become possible in places thought impossible just a few years ago. Currently, consumer payments account for more than 60% of all embedded finance transactions and are set to reach $3.5

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Global Payments Provider Secures $30 Million in New Funding

Retail TouchPoints

Reach , a combined payments, tax and fraud platform designed to improve handling of cross-border commerce transactions, has received $30 million in its latest funding round. The Reach solution powers transactions in 120 local currencies and local processing in more than 40 markets.

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Apple ‘Tap to Pay’ Expands Retailers’ Contactless Payment Options

Retail TouchPoints

retailers will be able to accept contactless customer payments on their Apple iPhones via its new Tap to Pay functionality. Consumers will be able to use their credit and debit cards, Apple Pay or other digital wallets to purchase items, with no additional POS hardware or payment terminal required to complete transactions.