Developments in full-service payment solutions are changing the way companies conduct business by offering faster payment tools for both consumers and merchants.
In various markets around the world, new solutions like mobile and contactless payments are starting to become more widely available. These solutions also have wide-ranging applications that are changing the way consumers pay for small services, like sodas at a vending machine to more expensive items like condominium fees. The latest Payments as a Service Tracker™ explores how these payment solutions are changing the nature of commerce.
News from the world of Payments as a Service solutions
In several countries – from the U.S. to France to Singapore and Australia – Payments as a Service solutions are seeing greater expansion of mobile payment technologies.
One of the most famous mobile payment options, Apple Pay, underwent an expansion in several global markets. More than two dozen U.S. banks and credit unions agreed to offer the service to their customers, while, in France, Wirecard released its own Apple Pay-compliant mobile payment solution. Other recent advancements in mobile payment solutions include a partnership between USA Technologies and several PepsiCo bottlers that will allow consumers to buy beverages with their phones instead of ironing out a wrinkled dollar bill.
Other developments are changing the way both consumers and merchants conduct business and are creating new digital marketplaces. In India, solutions by Intex Technologies and OMA Emirates have been introduced to help local markets adjust to a cashless society. In another part of the world, payment solutions provider Assembly Payments teamed up with Gumtree to create a new eCommerce market in South Africa.
While eCommerce markets expand in some parts of the world, brick-and-mortar companies are still facing the challenges of competing with their online counterparts. For more on how storefront companies can address these challenges, PYMNTS spoke with ShopKeep CEO Michael DeSimone for the February Tracker Feature Story about how flexible Payments as a Service solutions can help merchants stay competitive with online sellers and address common storefront issues like EMV compliance.
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To download the February edition of the PYMNTS.com Payments as a Service Tracker™, click the button below…
About The Tracker
The PYMNTS.com Payments as a Service Tracker™ is designed to give an overview of the trends and activities of merchant platforms that not only enable payment processing of new and old technologies but also integrate with other features to improve the merchant’s experience, including customer engagement, security, omnichannel retail, analytics, inventory management, software and hardware management and more.
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