With the shift to digital, the retail payment industry has witnessed significant innovations in payment technology that enable payments anytime, anyplace, across any channel proving integral to the consumer’s daily life. With the growth in the retail payment ecosystem, the need for better usability, security and mobility has been facilitated by trends such as Mobile wallets, EMV security, and Mobile point-of-sale (mPOS) devices, thus shaping the future of retail payment processing.
Mobile wallets have helped companies enhance customers’ experience by making it more convenient for customers to handle payments and also offer valuable insights regarding customer transactions. Retailers are the biggest faction pushing the mPOS ecosystem to new heights owing to consumers’ demanding card payments everywhere as mPOS devices provide a simple and hassle free means that enable retailers to accept card payments. In order to mitigate credit card frauds, retailers are required to upgrade to EMV security, which has proven to be extremely effective at reducing in-person card fraud in countries that have deployed chip technology. Providing companies the ability to improve customer service competency, drive revenue and gain a winning edge over industrial competitors, the number of retail payment solution providers has grown relentlessly.
With the number of solution providers filling up to the brim in the industry, it is an uphill task for a CIO to find the apt solution provider. Acting as a beacon in the industry, a distinguished panel comprising of CEOs, CIOs and analysts including the Retail CIO Outlook’s editorial board have evaluated firms with a proven record in successfully assisting enterprises with robust retail payments solutions.
We present to you Retail CIO Outlook’s Top 10 Retail Payment Solution Providers - 2017