How can retailers leverage mobile technology?
October 22, 2013

Retail organizations can benefit from investing in technology that makes it easier to accept mobile credit card payments from customers. The industry has experienced unique challenges over the last several years, as consumers become more attached to their smartphones and tablet devices. The growing popularity of e-commerce has created substantial competition for many brick-and-mortar establishments that aren't able to offer the speed and convenience of online shopping portals.

In fact, the September 2013 "Supermarket Buying Guide" from Consumer Reports revealed today's consumers have mixed feelings about the quality of service they experience at retail establishments. The publication analyzed responses from 24,203 readers and found more than half take issue with some aspect of the in-store shopping experience. The most common complaint was a lack of open checkout counters.

Mobilizing the point of sale
Investments in electronic payment systems enable large retailers to tackle many of the most pressing industry problems head on. For instance, mobile credit card processing technology allows clerks and cashiers to automatically increase the point of sale to various locations throughout the store to better serve the needs of customers. As a result, businesses can alleviate shopper concerns about wait times at the checkout lane. Instead of having customers walk to a designated location at the front of the store, mobile payment technology allows customers to make purchases as soon as they've finished shopping.

Leveraging consumer trends
Retailers can further remain competitive in the larger retail industry by offering dynamic gift card programs and loyalty programs that create opportunities for shoppers to earn discounts and other deals. According to the "2013 U.S. Supermarket Experience Study" from the Retail Feedback Group, an organization that offers customer service consulting services, nearly half of 1,200 shoppers surveyed said they own smartphones. Among those consumers, 42 percent said they are very likely to use their mobile devices to access digital coupons.

Instead of old-fashioned frequent buyer cards, businesses can create dynamic rewards programs that users can access through their smartphones and tablets. Doing so increases the likelihood that consumers will forgo e-commerce options and actually take the time to visit brick-and-mortar stores to make purchases. With the right credit card processing technology, retailers can experience substantial revenue growth that rivals industry competitors.

Nexus: G-WEBCD2