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February 6, 2014

Payments in an omnichannel world

by HoosOnBrand

The Connected Retailer

The payments industry has seen many innovational developments over last few years, from mobile payments to contactless transactions and the mobile wallet – providing the consumer with a plethora of ways to pay. But which of these should retailers look to adopt? And where do they start when considering payments across their many channels?

The real issue is that after cash, credit and debit cards, and to a degree PayPal, none of the other payment types are really ubiquitous – or at least they aren’t yet. Retailers face the problem of not knowing which technology to invest in. Get it right and you have a head start on your competitors, get it wrong and at best the investment capital is wasted, at worst you have lost ground on your competitors.

A survey by Lightspeed Research reports that 59% of today’s customers are the omnichannel customers of the future. These consumers…

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