ENTERPRISE IT
FOUR PILLARS OF THE NEW PAYMENTS ECONOMY
Contactless Checkouts : Palm Scanners and EPOS Safety is now a priority . Shaking hands , once as natural as greeting someone on the street , is now an awkward dance between people at varying levels of comfort with human contact . Cash is similar . For years , we exchanged physical representations of payment — beads and rocks and salt . But now that ’ s changing , as consumers tap cards , wearables , and smartphones over scanners . In fact , Visa found that if factors such as price and location remained equal , 63 % of people would switch to a business with contactless payments .
Amazon has taken note . When you walk into two of its Amazon Go stores in Seattle , you can hold your hand over a scanner for a second or two , let custom-built algorithms create your unique palm signature , and start to shop . Compared to facial recognition or eye biometrics , this technique feels relatively more private and secure — which is partly why it ’ s caught on .
Alternatively , Square has pioneered new EPOS ( electronic point-of-sale ) touchless payments . Restaurant servers can charge tables remotely ; retail stores can customise their discounts . It bears repeating that according to the company , the average Brit carries no more than £ 22 pounds in cash . Therefore , digital EPOS systems not only help your business gather customer analytics . They actually help people buy your products .
Smooth Customer Experience : Automated Payments and QR With attractive fintech options flaunting automatic payments , customers now seek
£ 22 The amount of cash carried by the average brit . company , HEG .
50 % of Gen Z consumers have recommended a store , restaurant , or merchant based entirely on the fact that it was easy to pay .
96 August 2021