March - 2022retailtechinsights.com8IN MY OPINIONIs the Pinpad "just a cost of doing business?" Our food retailers view them as one of the most important technology touchpoints in the shopper experience our our leaders in local food retail are looking carefully into these tools and processes to find insight and investment opportunities ­ the local food market owner is quickly embracing new trends and services on nimble platforms that can update and change within minutes because ignoring these changes may leave a location with few choices to adapt or update. Our forward-thinking retailers challenge us as their technology team to address these three soft trends.1. Which Payment improvement provides the most value torevenue?2. What is the impact of Payment transaction type onmargin?3. Which cost within a payment transaction is increasingthe most?Adding Value to the Revenue StreamWe recently supported a retailer introduce a mobile wallet app to reach consumers through payment, following in the footsteps of many others, including McDonald's and Dunkin, in terms of tokenizing payment. Another retailer choose to use QR codes which means they do not have to buy new hardware for their POS system and can instead integrate the technology into an existing system. It also means that all customers who have camera capabilities on their phone can use the service and both will also be able to integrate loyalty and offers into the current system. The mobile payment platform was less about the payment and more about establishing a direct communication channel with their customers to improve the frequency of visits. More revenue without a rip and replace hardware strategy for the business owner enables income value from an innovative payment solution.Impacting marginOver the last several years, technology has allowed guests to be recognized at the beginning of a transaction and remind a customer of previous orders and loyalty status. We faced LOCAL FOODMARKET RETAILERS TRANSFORMING THE PAYMENT EXPERIENCEBy Steve Methvin, VP of Ecommerce and Retail Technology, Bozzuto's Steve Methvin
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