Tag: Payments

It wasn’t that long ago that shopping was a single-channel experience. If a customer needed something, they purchased the item at the store, checked out at the register and took their receipt at the end of the transaction. However, disruptive technology like mobile commerce has opened new channels that have transformed the entire retail experience.

Mobility and the Modern Shopper

Mobile commerce is expected to hit an all-time high in 2017, according to the retail analysts at eMarketer.com. The website estimates that this year, more than 95 million Americans will make at least one purchase on a smartphone and an even higher number – 165 million people – will use their smartphones to research and compare products. Retailers have been working to adapt to shopper’s new preferences by optimizing their websites for mobile, introducing new store apps, and offering cross-channel purchasing options.

Although the competition from online-only retailers is fierce, big data has helped brick-and-mortar retailers learn more about their customers’ habits and preferences. Online shopping is highly personalized, so physical retail stores are working to provide a similar experience by gathering information about their customers via social media, traffic counts, and loyalty engagement, but big data has helped them to better predict trends, develop targeted marketing campaigns, engage customers across channels and generate a higher level of customer loyalty.

Mobile Commerce’s Impact on the Receipt

Disruptive technology like mobile payment platforms will continue to emerge and gain popularity and the number of purchases made using smartphones will soar. These innovations have transformed the way we shop and pay for purchases, but it’s also had an enormous impact on another staple of a payment transaction: the receipt.

Many retailers require receipts for returns and exchanges, but disruptive technology has changed the way we think about receipts – how they are printed and issues and what information they include. A customer who opts for the mobile checkout to avoid waiting in line still expects to be given a receipt, and Star Micronics’ printing and receipt apps along with wireless printers make this possible.

The SM-T300i, for example, is a popular wireless printer with an ultra-rugged design, perfect for busy restaurants or retailers and other harsh work environments. Printing is possible via practically every mobile device using Star’s newest app PassPRNT, which enables printing from an iPad®, iPhone®, iPod touch®, or Android™ device. Star’s cloudPRNT, is an innovative technology enabling users to print to Star printers directly through a cloud service.

Although it’s easy to lose track of paper receipts – whether they are crumpled on the floor of the car or shoved into a pocket, electronic receipts are easy to organize and access later. Star Micronics’ AllReceipts™ is a free, cloud-based digital receipt application that allows users to store and manage receipts on their mobile device. Customers just have to scan the QR code at the bottom of the receipt using the app.

Disruptive technology like mobile payments and big data have changed the way people shop as brick-and-mortar retailers work to compete with the highly-customized experience that online-only retailers can provide. Receipts are still expected with every purchase, so this technology has been forced to evolve as shoppers prefer mobile checkout and paying with their smartphones. Star Micronics offers an arsenal of options for retailers seeking wireless solutions for receipt printing, so customers can receive their receipts and organize them the way they are most comfortable.

Amazon Go and the Post Checkout Era Begins

New broke out detailing Amazon’s latest innovate in retail, Amazon Go beta, which opens to the public in 2017. Amazon has built a grocery store equipped with machine learning technology, similar to that in self-driving cars, and is testing out a post checkout, post line waiting era in retail. Here’s the cool Amazon Go video for your enjoyment. Companies like ShelfX and a Swedish entrepreneur have also attempted unmanned grocery stops (before it was cool).

Why is there so much hype surrounding it? Consumers are in and out of the store thanks to Amazon’s “Just Walk Out Shopping” experience. Families and individuals can go into the store, see something on the shelf, and walk out with it while never speaking to an employee (it’s called technology, not shoplifting?).

This means POS users need to start thinking ahead of the curve and preparing themselves for yet another technological advancement. Granted, since the program is in beta, that doesn’t mean things are going to change overnight, but now is a good time to start brainstorming changes so the impact of a new status quo is less severe.

This new shopping experience requires customers to have an Amazon account, a supported smartphone, and the Amazon Go app installed to shop freely. The outside orange square logo display Amazon and Go in large letters, and on the inside there are four bottom menus that users can press “key”, “receipts”, “about”, and “more”.

I speculate they might release for both Android and iOS. Users can enter the store by tapping on “key” and scanning the QR code that appears on screen to pass through a subway-like terminal. That process than activates the shopper’s virtual cart and customers can begin taking goods. Amazon Go automatically updates the user’s inventory in the app when products are detected taken from our returned to the shelves. Customers don’t need to scan out and when they pass back through the terminal, the app sens a mobile notification alerting that a payment was processed, and a digital receipt is then sent to their device.

NFC Contactless Payments lead the change into the Post Checkout Era

Snapchat Spectacles and the Engaging Brick and Mortar Space

Snapchat, known as Snap, Inc., released a camera equipped pair of sunglasses called Spectacles that might seem familiar to those who bought Google Glass. TechCrunch reports Spectacles allow users to record video tidbits in a socially accepted style. On November 21st 2016, a pop up shop appeared overnight in New York City where app users and curios consumers initially waited as long as three hours in wintery weather to get their hands on a pair. Inside the brick and mortar store was a single vending machine (SnapBot), where customers choose up to two out of three sunglasses, selling for $129.99 each. I was in the city visiting some friends and decided to snag a pair for myself. While I anxiously waited in line, there were a few thing that I noticed about the store. Snap Inc engaged their users and holiday customers by providing exclusive content. Unique snap codes were placed throughout the queue and shoppers in line were able to entertain themselves by scanning them. The staff was equally as engaging by educating their new product users in-store with personalized customer service.

Showrooming Pains and Frustrations

Retailers will continue to struggle against online sales due to a developing showroom trend that is likely to move forward into the new year. Consumers visiting in-store locations are purchasing goods online later at their own convenience after studying the product in-store. I’ve seen people walk into a store, snapping a quick photo and leaving without a purchase. This can be increasingly difficult for retailers and small business owners to keep a healthy relationship with customers while fighting for their attention. At first glance it might seem as though showrooming is becoming a nuisance, but some retailers are using this as an opportunity to innovate. Small businesses can utilize new technology available to study their target market, improve the ecommerce experience, as well as integrating a seamless purchasing system between online and physical

Personalization and Exclusivity

In a retail world where department stores once ruled the market, small unique ships are are able to provide value, unique in-store experiences, and cultivate relationships with their customers, are embracing the momentum shift. Therefore, offering a unique and personalized shopping experience is vital for customer retention, on-site sales, and business growth. The goal is to add a hint of intimacy and customer care, rather than entertaining customers (depending on your objective and brand).

Rob Hom

Marketing Intern

Who is using it?

Millennials are embracing the use of their phones and mobile near field communication (NFC) technology at the checkout lane. Now is the time for small business owners to accept that reality and harvest the benefits by adapting their point of sale system.

Picture this. A consumer is in a hurry to grab a quick bite to eat on their way to a meeting. While driving through town, the consumer sees a local restaurant and decides it would be a good place to pick up lunch. Getting back on the road with as little time disruption as possible is important. After a quick meal prepared by the merchant, the consumer soon realizes he left his wallet in the car, but notices that the restaurant accepts mobile payments. Without hesitating, the consumer pulls out his phone at the point of sale and uses it to pay for his meal. After a speedy meal and transaction, both the merchant and consumer are happy with the exchange.

Consumers and shoppers are always looking for the smallest queue. NFC technology effectively cuts back the wait time since people with smaller purchases can complete their purchase faster. There’s no more waiting a half an hour just to buy a single item. Thankfully, there’s also no more searching through purses (or man purses because… it’s 2016) for oversized wallets filled with tons of credit cards or cash. With the advent of technologies like Apple Pay, Samsung Pay, Google Pay, and Android Pay, wallets are succumbing to the Internet of Thing (IoT), a past time that consumers are likely not to miss.

Where are they being used?

According to a Business Insider article, there are approximately 2.5 million point of sale systems equipped with NFC readers that are being used in the United States alone and Apple Pay is looking at a lot of growth. Mobile payment systems are being used in local retail stores, restaurants, for public transportation, and inside convenience stores when consumers are making a quick or small purchase. As long as the point of sale hardware or credit card reader displays an NFC logo, that means Apple Pay and other mobile payments are compatible at that retail location.

Barclays is now leading the finance industry with newly announced ATMs. The new machines offer cardholders contactless access to their accounts via mobile key points at the ATM, according to multiple news sources. These new machines utilize the same kind of near field communication technology, and prompts user authorization to allow the debit card stored on their device to be used for banking.

Why are they using it?

In 2014, PayPal disrupted the payments industry where users could pay across platforms with a single touch, without the hassle of entering usernames and passwords. A year earlier, companies like Venmo began the downplay of entering credit card numbers on small screens. Innovative technology continually changes our world, and millennials are adapting by using these services to help create a smooth initial transaction at checkout. PayPal and Venmo revolutionized the way younger consumers interact with their finances, and larger tech companies notice the switch in consumer behavior and react by scaling use of mobile payments.

In addition to the mobile payment phenomenon, millennials are now using more coupons than previous generations and they are accessing these on their mobile device. Imagine allowing customers to not only use their phone for coupons at the point of sale, but for payment as well. The two go hand-and-hand because with every mobile payment, there is an opportunity for the merchant to access the customer digital world by offering digital receipts and coupons, ultimately driving more return customers.

Small businesses can believe in the post-cash payment era because it all comes down to speed, ease, and simplicity. Using a phone to pay for goods provides a better solution for consumers who don’t like to carry cash or consistently forget their wallet, and it provides a faster and easier workflow for the retailer who wants to keep their lines moving.

Learn more about Star’s digital receipts and coupon solutions at www.starcloudservices.com.

Rob Hom

Marketing Intern

Our phones have already replaced our cameras, our iPods (or MP3s), and our computers. Now, they are beginning to replace our wallets. We are seeing more and more consumers reaching for their mobile phone at the point of sale instead of their wallet. It’s no surprise that this recent adoption of mobile payments is going to majorly change the way people shop.

The number one thing driving consumers toward mobile pay options and mobile wallets is simply the convenience of the payment. 45% of millennials said that they would be willing to connect their payment info to a wearable device in order to make fast, hassle-free payments, according to Adweek. If there is one thing that consumers today love, it’s for their shopping experience to be as quick and painless as possible. We know this because consumers, especially the millennial generation, prefers their shopping experience to be online. Seriously, what’s better than doing all your shopping from the comfort of your own living room? But, we are finding that brick and mortar stores are making a comeback.

According to TimeTrade research, 85% of consumers say they prefer to shop in physical stores. However, there is still a convenience in the shopping experience that consumers are looking for. This comes at the point of sale.

Giving customers the option of their preferred payment method is important, because it can make or break the entire shopping experience. How many times have you had your credit card out and ready to pay only to hear “sorry, cash only”? According to Business Insider, about 45% of millennials (ages 18-34) have made an NFC payment, and 35% of adults 35 or older have done so. When a retailer cannot accept the customer’s preferred payment method, the entire shopping experience becomes frustrating and inconvenient for the shopper. We must accept that we are now moving toward an age where shoppers will be standing at the point of sale with their mobile device out and ready to pay.

It’s now the responsibility of the point of sale industry to make these mobile payments possible and easy to implement for SMB retailers.

From a point of sale standpoint, we already see ISVs (Independent Software Vendors) working to make their POS applications compatible with mobile payments. Some, such as Square, have even developed their own customized payment terminals to accept any type of mobile payment along with chip-enabled credit cards. By moving toward mobile payments as the norm, we are left wondering what that means for the future of point of sale.

This could easily lead to a greater move toward digital receipts. When retailers are implementing mobile payment options, it is important for them to keep in mind the idea of the mobile wallet not just for payment, but for the digital receipt as well. While many mobile payment platforms offer digital receipt options, if retailers want to use those digital receipts as an opportunity to engage with their customers, going with an outside digital receipt provider might be the best option.

The bottom line is that cash and card payments will never fully disappear. As the adoption of mobile payments continues to grow, we will find a growing demand for more brick and mortar retailers to accept these type of payments.

Learn more about Star Cloud Services digital receipt solutions at www.starcloudservices.com.

In the world of small to medium businesses (SMBs) in retail, we hear the word “omnichannel” being used quite often. Retailers are working to improve and grow their omnichannel strategy in order to better satisfy and engage with their customers. Today, there are so many channels for purchasing, it is important for SMB retail stores, especially brick and mortar, to utilize these channels to increase their engagement with customers and customer loyalty.

First, what does omnichannel mean?

Omnichannel is a multi-channel approach to sales that seeks to provide the customer with a seamless shopping experience whether the customer is shopping online from a desktop or mobile device, by telephone or in a brick and mortar store.

Now the question is  – what does this mean for SMB retailers?

The answer seems very obvious – expand business by creating buying opportunities for customers through multiple channels. In order to do that and see an actual ROI from creating purchasing options from all channels, retailers will need to also develop a strategy for using these channels to increase customer loyalty and omnichannel marketing opportunities. Luckily, the two go hand-in-hand.

One important thing to consider about omnichannel retail is that you are not only giving your customers the option to choose which channel to purchase from, but you are giving them the flexibility of seamlessly moving between channels during their purchasing. For example, your customer finds the perfect dress for her friend’s wedding, but you do not have her size in stock. You will be receiving another shipment at the end of the week with her size included, but she is afraid that she may not make it back to the store in time. By offering the option to purchase through multiple channels, the customer can simply go online and pre-order the dress right from her smartphone, making it a win-win for both parties involved.

The tricky part here becomes marketing through the different channels in which customers are purchasing. Should you be investing in more digital advertisement to target your online buyers, or do in-store shoppers still make up the bulk of your total customers?

An easy way to bridge the gap between the digital channel and your brick and mortar store is to offer the option of digital receipts to customers. By offering the AllReceipts™ digital receipt application to in-store shoppers, you are automatically gaining access into their digital world, making the customer more likely to make future purchases through an alternative channel such as an online desktop or mobile device.

Since Star Cloud Services offers AllReceipts™ in-app marketing tools like Engage NOW and Flip, retailers can increase their omnichannel marketing strategies without any additional cost, and by targeting customers through all channels.

Star Cloud Services’ digital receipt solutions works to connect the retailer to the customer through IoT technology and uses the smartphone application, AllReceipts™, to help retailers engage with their customers through all purchasing channels, whether in-store or online.

With the growing adoption of mobile payments and mobile wallets, digital receipts are going to continue to grow in the retail space. By offering multi-channel purchasing options and using omnichannel marketing strategies, such as digital receipt applications, to engage with customers, you are opening your retail business to endless possibilities.

To learn more about Star Cloud Services and AllReceipts™, please visit www.starcloudservices.com.