The Evolution of Retail Payment Processing

Think about how you have been purchasing goods and services in just the last decade. Perhaps at the beginning of that time, you were clipping coupons or trying to determine which store had the best deals by skimming through advertisements before you head out the door. Maybe you were someone who adopted online shopping during its earlier stages and you remember when long shipping times were a thing and footing those costs were normal. Those days might seem long gone as we are now programmed to find any product we need with a few taps of the screen on our smartphones, laptops, or tablets, and we expect our items to arrive within only a few days. 

Does this mean that we have changed, or that the fast-pace in which technology has advanced has made us adapt to whichever means of transaction is in front of you? Do you opt to stand in line or do you seek out a self-service checkout? Do you find yourself frustrated by having to stand in line or waiting more than a few days to receive a package?

Regardless of where you fall, it is evident that the way in which you used to shop has changed, mainly in hopes of helping the customer experience a quicker transaction.

Retail Payment Processing Is Changing. This Is What Your Store Can Do to Keep Up

Without a doubt, we have now entered an era in which your business may be judged on its speed more than anything else. Your customers certainly want to work with a business where the efficiency and the pace in which you handle transactions is a benefit to them.

To keep up with this trend, retail has to be thought about differently. For starters, retail stores first tried to implement a speedier checkout with the express lane, which eventually transformed into the self-serve checkouts that are more common today. Now, you won’t be surprised to see that stores have taken additional steps to make the checkout process even faster by putting in handheld devices or mobile apps for quicker, more efficient checkouts. This puts that power back into the consumers’ hands. 

Whether your store is trending towards self-checkout or handheld device payments, the future is here. What steps have you taken to ensure your store is keeping up with the new changes?

Efficient Retail Payment Solutions Are No Longer Optional

Knowing that speed is a top priority for your customers, especially during the busier times of the year, how do you adapt to make the checkout process run as smoothly as possible? How do stores keep up as eCommerce becomes more popular?

These are all very serious questions that retail stores need to begin asking themselves in order to keep up with the changing demand in customer experience for shopping. Ask yourself, if you could save your customers time to ensure their ongoing business, what would that cost you? 

Do you rely on an outdated system to track inventory? How do you let customers know what items are in stock at your store? 

Cash payments are almost by the wayside, which means most customers pay with a card. Do your payment solutions accept all cards? How many verification steps are required for each transaction? 

Shopping for Retail Payment Hardware Is a Must

Once you decide how your store is best primed for hardware, the next step will be determining if you want to purchase or lease it. Are you looking for mobile computers, barcode scanners, barcode printers, or tablets?

After determining what your needs might be, you will want to decide if you want to lease or buy the equipment. There are many advantages to leasing equipment, especially when working with a trusted partner as a vendor. Buying equipment is another option, but you have to take into consideration what you will be missing without that vendor partnership. Who will fix your equipment when it needs to be repaired? Do you have an in-house team dedicated to this? 

However, partnering with a vendor while leasing equipment provides benefits to both parties. Your organization will have ongoing technical support, and in return, will be a customer for the foreseeable future. 

Roll-outs might seem overwhelming, but they don’t have to be. In some cases, you might be able to get the equipment in the hands of your employees to test it out before making a decision. This will also provide familiarity and make the process much smoother, resulting in an easier transition. 

TRG Can Assist With Your Payment Solution Needs

Implementing and deploying new hardware and devices may seem overwhelming, costly, and like a burden. When the time comes, finding the right vendor to partner up with could be the difference-maker in your business operations.

TRG promises to add value by inserting our expertise and skilled technicians into your organization while maintaining focus on your core business objectives. Our hardware can be leased, giving you all of the control when it comes to the type of terms and support you will receive. Our customized solutions for all of our clients ensure that any challenges that they face will be met and overcome with timely and reliable service. 

If you would like to hear more about our product or service offerings, please contact us today We are looking forward to speaking with you!

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About TRG

TRG is a global managed solutions provider focused on mobility, point of sale and payments. With facilities across the United States, Canada and Europe, we provide the most comprehensive suite of lifecycle management services – from warehouse to boardroom and deployment to retirement. Our mission is to Make Technology Simple, helping customers accelerate projects, drive application success, improve employee/customer experience and maximize ROI. We’re relentless in our drive to find innovative, effective ways to enhance customer operations and challenge conventional thinking along the way. Learn more about why The Difference Is Us at www.trgsolutions.com.