Retail Trends: Global Payment Methods in Retail
New innovative payment methods are evolving at a rapid pace with new providers, technologies, and payment platforms emerging quickly. Consumers are looking out for convenience and omni-payment options which enable them to pay with the same method whether buying in-store, online or via a mobile device. This shift demands retailers to opt for fast, simple and secure payment methods.
Scope
- Convenience is the major driving factor for innovative payment methods
- Cash remains the preferred mode of consumer payments followed by payment cards
- Usage of cash is declining gradually with rise in electronic payments
- Retailers are adopting smarter payment options to offer enhanced security
- Contactless payments overtaking traditional payment methods
- Self-checkout stores gain traction
- Mobile payment apps provide consumers with new ways to exchange money
- Increasing adoption of smart phones is propelling the growth of m-commerce
Reasons to buy
- This report briefs about the key payment methods widely in acceptance in the retail industry, payment trends and innovations
Summary
Payment methods in the retail industry
Payment trends & innovations
M-commerce in the retail industry
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