In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create.” – D. Ogilvy
According to MPD CEO Karen Webster, 2016’s ecosystem will be impacted by 6 main trends. Countertop checkout won’t die out, but the situation will change dramatically.
- Mobile App Payments
The online and offline blurring trend will expand further and faster. This will be dreadful for the countertop checkout.
Consumers will prefer cloud-based apps for checkout on their mobile devices inside stores. They will start paying for things even before entering the store. Increasingly, consumers will look for merchants who provide them with such ability.
QSR feels the mentioned impact in an incredible way and in a short period of time.
- Faster Payments
The US aims to enable more secure, data-rich, and faster payments. In the fall, NACHA is going to launch its universal Same Day ACH, thus being the first to enable advanced faster payments in the US.
The issue of faster payments will imply speed, efficiency, and flexibility based on the appropriate levels of data, security, risk management, and compliance.
Merchants operating in Canada should consider turning to EMB to enjoy exceptional payment processing benefits for their businesses. With EMB, you can get your high risk Canadian merchant account with ease. Being the #1 high-risk processor in the US, EMB offers ultimate payment services to its customers.
- Contextualized Commerce
Modern Contextual Commerce 2.0 will establish new relationships between consumers and brands.
In 2016 and in the upcoming years, success will be based on providing appropriate commerce experience via any operating system, buying environment or channel based on secure digital account credentials.
- Amazon Can Be Just An Alternative
Thanks to its simple, fast, and efficient services, Amazon crushed the holiday shopping season in 2015.
Given the online friction, retailers should find the best and the right way to have better sales and appropriately deal with data problems.
Retailers will target on delivering their omnichannel ambitions in a better way. Online credentials will be used to pay for something via cloud-based apps from a physical store.
- Towards Increased Loyalty
Data can influence and change the problem of loyalty. The frequency of use counts for preference, engagement, and loyalty.
Creatively integrating loyalty capabilities into payments app, retailers will have data on consumer behavior and will get to know how to communicate with consumers.
Loyalty programs will be built around payments, data, and enabling platforms, thus allowing consumers to get more valuable things from retailers. This will result in building a lasting relationship between merchants and consumers.
- Consolidation Vs. Payments
2016 is great if you’re looking for assets for a reasonable price. The payments and commerce industry are expected to become stronger.
Emerging and operating firms will focus on the value they offer to their stakeholders. Survivors will start 2017 with greater strength and power.