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The “New Normal” for Retail Payment Processing Options

Retail merchants shift their approach to retail payments as customer demands change. Find the best retail payment processing options via Best Payment Providers.

Tuesday, November 3rd, 2020

As we pass the six month mark of the COVID-19 pandemic, many are referring to the changes to everyday life as the “new normal”. One of the biggest changes affects both consumers and business owners: retail payments.

The biggest concern is still the safety and hygiene of employees and consumers alike, especially when it comes to shopping. Every day, consumers make purchases. Fuel, groceries, clothing and other items are still necessities. To keep everyone safe and their operations running smoothly, many merchants have sought ways to improve the customer experience and ensure their safety.

A recent survey found that more than 50% of consumers want stores to follow guidelines to help keep shoppers safe. This might include installation of plexiglass at checkout, the use of masks and availability of hand sanitizers. 59% also said it’s really important to them that stores are not too crowded.

Now more than ever, it’s important to listen to what consumers expect and demand. Here are 5 things you can incorporate to ensure shoppers (and staff) are protected during payment processing:

  1. Pay by link

This type of payment method provides new opportunities for retailers, both in-store and online. How does it work? There is no interaction with a payment terminal whatsoever. Instead, a provided link or QR code (via email, app, newsletter, social media, etc.) takes the customer to a secure payment page.  

  1. Mobile app/mobile SKD

In-app payments also offers a more hygienic payment option. Retail merchants can easily integrate payment methods into their app, without having to jump through complicated hoops to get started. Getting up and running is fast and easy, and it eliminates the need for customers to pay at the point-of-sale (POS).

  1. UV lights at POS

Still need your point-of-sale system? Many merchants are considering the option of ultraviolet (UV) disinfection to limit the spread of infectious pathogens on high-touch surfaces. This same concept has been used to disinfect surfaces in hospital rooms, ambulances and airplanes to eliminate bacteria and viruses.

  1. Contactless payments

You can also consider incorporating contactless payments. A recent study found that there has been a 27% increase in contactless payments made through smartphones and contactless cards in recent months. If you feel that your customers are hesitant to pay by traditional methods – like inserting their credit card into a terminal – this is an increasing popular option.

  1. Click and collect

Do you have long lines of people waiting in stores for their items? Are they even lining up in front of the store throughout the day? This option allows your consumers to quickly enter and pick up their order, with the transaction having already taken place online in advance. This can significantly reduce the average length of stay on-site.

If your business needs help implementing various payment processing options, you can browse and compare the top payment processing providers via Best Payment Providers. Your retail business needs – and deserves – a dependable processor with competitive services in order to reach more customers and satisfy their changing demands. Thankfully, there are many merchant account providers that specialize in working with retail merchants, each one with its own set of advantages and disadvantages.

Find everything you need to choose a provider that is right for your business type and industry – one that understands the unique challenges you face today.

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