Stay Fresh:How to Keep Up with Payment Trends in Retail
Retailers have long understood the power of payments. Offering shoppers both traditional and alternative payment tools has helped drive customer loyalty and engagement for years. However, the number of new payment options has resulted in confusion and a lack of confidence about which payment methods to adopt next.
It’s a common refrain: Retailers understand they have a problem, with 55% acknowledging that they need more payment options in-store and 54% saying they need more online payment tools. What holds them back? No clear strategy to move forward in the ever-evolving landscape of new payment methods hindered by the:
Complexity of managing the payment method (54%)
Time it takes to learn the payment system (53%)
Cost to implement (51%)
Ongoing fees (50%)
See all the findings that Retail Dive’s studioID, on behalf of Blackhawk Network, uncovered in a survey of retail leaders about how they use payments now, and how they plan to adapt to evolving trends.