The retail industry is going through a major evolution to effectively address the needs of today's consumers. Starting from table point of sale (POS) technology to acceptance of emerging digital wallet payment methods, many options address the mobile and wearable device environment, that help enhance the customer shopping experience. Besides two-step authentication and tokenization, biometrics is increasingly being used to handle payment security by providing the factors that help in determining the actual identity of the consumer to confirm the legitimacy of a transaction.
Retailers are the most appealing targets for cybercriminals owing to the huge data sets they gather during their business operations. To address cyber threats, retailers are taking 'buy not build' approach, where possible, to allow cybersecurity professionals to defend their physical and virtual assets.
Providing companies with the ability to improve customer service competency, drive revenue, and gain an 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 CEOs, CIOs and analysts including the Retail CIO Outlook’s editorial board have evaluated firms offering innovative solutions for assisting enterprises with robust retail payments solutions. We present to you Retail CIO Outlook’s "Top 10 Retail Payment Solution Providers - 2019”.