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RFID Technology: Enhancing Retail Efficiency While Protecting Consumer Data

Retail TouchPoints

RFID uses electromagnetic fields to automatically identify and track tags attached to objects, offering retailers precise control over inventory and enabling real-time data analytics to enhance operational efficiency. RFID can enable personalized product recommendations and a more seamless in-store experience. For customers.

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Retailers’ Quest for Seamless Shopper Journeys Fuels Payment Modernization Projects

Retail TouchPoints

Even though more than half ( 56% ) of retailers surveyed by KPMG completed a major payments modernization program within the past year, even more 83% already are modernizing their payment infrastructure, or are planning to do so in the new future. Consumer and Retail Leader at KPMG in an interview with Retail TouchPoints.

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As Gen Z Enters Prime Spending Years, Brands Sharpen Their Pitch

Retail TouchPoints

They’ve been shaped/scarred by not one but two global economic traumas — the Great Recession of 2008-2009 and the COVID pandemic — and they’ve grown up with social media playing an increasingly large (and loud) role in shaping culture, including how these consumers shop, research and purchase products and services.

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Sephora Debuts Contactless Payment via Associates’ iPhones

Retail TouchPoints

retailer to offer Tap to Pay on iPhone, which allows associates to accept contactless payments using their iPhones without requiring a dedicated payments card reader or additional hardware. Morgan Payments powers the Tap to Pay on iPhone service, which can accept credit and debit cards, Apple Pay and NFC-enabled digital wallets.

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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.

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Target Rips Up Paper Checks as Payment Method

Retail TouchPoints

Citing “extremely low volumes” of customers using personal checks, Target will stop accepting checks for in-store payments on July 15, 2024, as reported in the Minneapolis Star-Tribune and confirmed by Target. According to the Federal Reserve , the number of payments made by check has been declining, dropping 7.2%

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American Dream Again Misses $8.8 Million Loan Payment

Retail TouchPoints

million debt service payment on municipal bonds sold to help finance the venture, due to insufficient funds. The mall also had missed the previous payment deadline for the same reason in August 2022. The concept was developer by Triple Five Group and is billed as the “first-ever modest clothing department store” (i.e.