In 2020 Covid 19 incentivized merchants to change their focus toward the implementation of e-commerce, and click & collect strategies. But sanitary measures also impacted the customer journey in-store as the demand for cashless and mostly contactless payment methods proliferated. The shift in customer habits has been quite rapid but the need to offer user-centric and contactless payment solutions is expected to prevail.
In parallel, a transformation was already in progress among micro-entrepreneurs, such as taxi drivers, delivery personnel, street vendors, etc. to accept card payments in mobility while providing their clients with the option to pay by the latest popular methods (Apple Pay, Alipay etc). Consequently, a few payment facilitators emerged in the past few years and have been serving this unexplored segment of customers successfully by providing highly competitive and attractive offers, not only in the terms of affordability but also ease of installation and more importantly modern mobile POS design and features.
The renewed demand for seamless checkout solutions presents a unique opportunity for the fast-growing neo banks, acquirers and payment gateway providers to extend their existing business service portfolio and capitalize on it.
In addition to the merchants who are now migrating to a new cashless economy, SMEs represent a booming and captivating market segment for innovative companies who want to disrupt the way we accept payments. Here we present YouTransactor’s key takeaways from our experience supporting leading European and Latin American Fintechs in their upcoming mobile POS launches.