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Digital Payment Solutions For Retailers

A growing number of retailers and e-tailers have adopted the payment solution referred to as digital payment. Examples of digital payment systems include Apple Pay, Google Wallet and Android Pay. According to a recent ITG report, Apple Pay accounts for 1% of all dollars while Google Wallet and Android account for 4% each. However, consumers still prefer traditional payment systems that include credit cards and debit cards because they are not aware of the advantages of digital wallets.

Due to the low figures, many tagged digital wallets as a disappointment. A vast majority of retailers do not accept payments through mobile wallets. Sales staff and customers alike are not aware of businesses that support the kind of payment because businesses do not inform the public that mobile wallets can be an option. However, this is not completely true because Whole Foods is now processing about 20% of its payment transactions through Apple Pay. This accounts for at least 28% of its sales. Walgreens accounts for 19% while McDonalds boasts of 11% sales through digital wallet.

Mobile wallets are convenient and secure payment methods. You simply hold your phone to the terminal and Apple Pay goes through. Retailers who do not accept mobile wallets are missing the opportunity of a safe payment transaction. The mobile wallet can bypass the slow and secure chip-card transactions and can facilitate a 360-degree customer interaction.

Walgreens has integrated its loyalty program with Apple Pay and shoppers who pay using their iPhones receive the loyalty points immediately. Other retailers like Panera, Kohl’s and Wegmans have also realized the advantages of mobile wallets because they know that in the not too distant future, the landscape will shift.

Consumers are becoming more selective and there is a growing concern over privacy standards. Additional security to transactions is provided through cutting edge technology while introducing faster, safer and more efficient ways to interact with customers.

Many consumers are choosing their mobile phones to make online purchases. Through you can have a dedicated mobile website that is specifically created for mobile access. You also the option of responsive web design that displays existing content according to the screen size of the device being used.

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