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The Digital Checkout: How Tech is Revolutionising Online Transactions

Retail Focus

Payment initiation services enable clients to execute direct payments from their bank accounts without a card network, substantially lowering transaction fees for retailers. The post The Digital Checkout: How Tech is Revolutionising Online Transactions appeared first on Retail Focus Magazine - Retail Design.

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Embedded Finance: Making Payments Possible in New Frontiers

Retail TouchPoints

In fact, embedded finance will be a $777 billion opportunity by 2029. What’s really exciting about embedded finance is the simplicity of making complex payments accessible to a wide range of people and businesses, and the creative innovations that are opening new use cases and new opportunities. So how can businesses get a piece of it?

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Exclusive Q&A: Venmo GM on the Company’s ‘Natural Extensions’ into Business Payments

Retail TouchPoints

McKinsey calls this embedded finance — when a financial product or solution is placed in a non-financial setting, for example on a social media platform or in a store (private label credit cards are one old-school example). Embedded finance has become big business: McKinsey estimated that the sector reached $20 billion in revenue in the U.S.

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Guarding the Retail Fortress: Cybersecurity Challenges and Network Interruption Risks

Retail TouchPoints

In 2014, cybercriminals used a third-party vendor’s credentials to enter Home Depot’s network and deployed malware on the self-checkout systems to steal customer information.

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City Furniture Overhauls Ecommerce Approach to Create Highly Customized Shopper Journeys

Retail TouchPoints

Overall, mobile accounts for the majority of CITY Furniture’s traffic now, and the retailer is able to offer entirely different experiences to its mobile and desktop customers while still leveraging the same backend services, thanks to the headless microservices architecture approach. Mobile and Social Growth Motivated Online Upgrades.

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The Rise of Micro Markets in Airports

Retail TouchPoints

Consumers are also becoming more exposed to self-checkout options, and they are in turn becoming more normalized and natural. She has a BA degree in Economics with an emphasis on Accounting from the University of California Santa Barbara and is a registered CPA.

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Is BNPL the right choice for your business?

Inside Retail

That means having honest conversations with BNPL providers and your own team around issues like fees, integration, UX, accreditation and customer ownership, accountability and bad debt management. . Do research on your target demographic and ensure that your business would benefit from offering BNPL at the checkout.