Are Payment Technologies Driving POS Decisions?

By Chris Allen, Director, Demand Generation & Channel Marketing, Vantiv Integrated Payments (formerly Mercury Payment Systems)

The Internet and mobile devices have helped break down barriers to purchasing goods and services, making it easier than ever before for consumers to find what they are looking for, at the price they want to pay. As buying has become easier, though, consumers have become more complex.

The rise of the omni-channel consumer, an “omniconsumer,” who is comfortable working across all channels of commerce, old and new, lies at the roots of today’s payment transaction landscape. In addition to working across all channels, today’s consumers increasingly blend channels as they shop.

Smartphones play a big role in consumers’ shopping experience. A recent Socratic Consumer Survey sponsored by Vantiv revealed that more than half of consumers use retailer and/or shopping apps to retrieve coupons or deals, and 43 percent use some kind of price comparison app when shopping. Apps may be popular for shopping, but consumers don’t entirely trust them with their credit card information. Instead, 64 percent of those surveyed report they use PayPal when making a purchase through an app, and 45 percent enter their credit card each time they make a purchase through an app.

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