The changing landscape of payment options and point of sale retail software for customers and merchants across the U.S. and the world highlights a growing need for more security features. Digital payments emerging in new forms and values are creating a new landscape for both stores and shoppers to travel.
Many shoppers enjoy using new forms of payment because they are usually easy to understand and implement into usual shopping routines. Although some merchants may have a hard time making a change, due to expense or preconceived notions of new payment deliveries,change is often necessary to survive.
Keep the following two benefits in mind when deciding to make a payment method change in your store.
- Customer behavior: Tracking customer behaviors, purchases and desires is a great way to increase sales volume and visitor happiness. Often, if customers are satisfied with their purchase and experience in-store, they will return again and again. A system such as Visual Retail Plus tracks inventory, accounts for shortages, handles price changes and has the ability to create purchase orders. Having a store inventory at the fingertips of employees is essential for a business to survive.
- Security: According to BI Intelligence, the U.S. accounted for 51 percent of global payment card fraud costs in 2013, totaling over $7 billion in losses. This high number, coupled with the rash of breaches many stores have faced, highlights the upcoming October 2015 EMV security change. Although EMV is already a standard security measure in Europe, it has not been required by the U.S. until now. Although EMV won’t protect against all breaches, if used in addition to other security features, both customer and business information will be safer.
Learn more about Visual Retail Plus and its many capabilities by visiting our website.