Top retail payment trends of 2024

Consumer preferences are constantly changing. People want hybrid shopping (both online and in-store) and are craving innovative and flexible cross-channel experiences consisting of physical and digital. 

Convenience is a key aspect driving this trend. Consumers want to find what they are looking for and pay without a hassle. This is often a challenge for retailers selling furniture, sports equipment, or electronics. Consumers often need to pick up the product in one place and bring it to the checkout to pay or purchase a product in store and then pick it up from a collection point, making the experience slow and inefficient. 

To solve this, businesses are adapting to their customers' needs and enhancing their payment experiences by offering services such as click-and-collect, self-checkout, endless aisles, and mobile point of sales (mPOS) solutions. These innovations provide customers with the cross-channel and in-store experiences they expect.

Unfortunately, many of the retailers in these industries work with legacy providers. Their siloed data and innumerable integrations make launching and maintaining these flexible cross-channel customer experiences difficult.

In this article, you'll discover the top innovations for businesses in these industries that can help them enhance the payment experience for their customers and learn how to overcome the challenges of working with a legacy provider.