The way that shoppers are able to pay for purchases is evolving quickly, growing more complex and challenging grocers to keep pace with new developments.
It’s a case of bad and good news. While digital payments promise to grow more complicated in the short term, with options expanding dramatically, the changes also create an opportunity for retailers able to capitalize on the trends to ensure that shoppers are able to pay on their own terms. Make no mistake: This isn’t just about payments. This is about capturing shopper data for the personalization of communications and offers, and endearing shoppers to loyalty programs.
“Grocers that successfully leverage shopper data are the ones that will dominate the future of grocery,” asserts Sharat Potharaju, CEO and co-founder of New York-based MobStac, which focuses on using such technology as near-field communication (NFC) and QR codes to make food and other types of retail payments more efficient.
QR codes — more about them later — are among the food retail payment technologies growing in importance among grocery shoppers, according to research from Elkhorn, Neb.-based payment services provider ACI Worldwide. In a survey of 2,000 U.S. adult consumers, ACI found that 35% of them would leave their preferred grocers for others that allow them to pay in-store in a touchless manner — a phrase that covers an array of payments, including contactless credit cards and digital wallets.
This story is from the March 2021 edition of Progressive Grocer.
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This story is from the March 2021 edition of Progressive Grocer.
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