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Holiday Shopping Trends and Payments Innovations: Experience as Competitive Advantage

Retail TouchPoints

This is an opportunity to not only capture share of wallet but also build lasting customer loyalty and trust. Payments technology is central to the shopping experience. During the holiday rush the security and ease of the payments experience can be as crucial as product price or availability.

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Resilience is Key as Payments Acceptance becomes Mission-Critical

Retail TouchPoints

Consumers now prefer digital payment options, with cash usage declining in all major economies. Cards have become by far the most popular payment method, with contactless now accounting for most purchases made at retail stores. Equally, the terminal app should have been designed to support alternative transaction processing flows.

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Social Commerce Revolution: How Payments Innovation Transformed the Digital Shopping Experience

Retail TouchPoints

Take Instagram, for instance the platform pulled in an estimated 6.5 They extend to things like livestreams, shoppable content and payment links within Instagram Reels, stories, TikTok videos or Pinterest Pins. Higher transaction volumes across these platforms have led users to be more cognizant (or wary) of privacy and data-sharing.

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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. In fact, embedded finance will be a $777 billion opportunity by 2029. 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

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.

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3 Realities Shaping the Future of B2B Ecommerce

Retail TouchPoints

These two realities are converging and inspiring manufacturers, wholesalers and mass marketplaces alike to modernize their tech stacks and implement more robust customer experiences that are more aligned with modern B2C behaviors. Composable commerce is making it easier to create feature-rich platforms more quickly, Chandel said.

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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.