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Visa, Mastercard Settlement Represents Major Victory in Merchants’ Fight Against Swipe Fees

Retail TouchPoints

merchants worth an estimated $30 billion that will lower the interchange fees (commonly referred to as swipe fees) that merchants are charged when customers use credit or debit cards. Swipe fees typically include small, fixed fees plus a percentage of the total sale amounts and average about 1.5%

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URBN to Deploy Common Payments Infrastructure Across Brands

Retail TouchPoints

URBN , parent company of Urban Outfitters , Anthropologie , Free People and FP Movement , will adopt Stripe as its primary payments infrastructure for both online and in-store sales, consolidating the majority of its North American payments volume onto the solution provider.

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Unlocking Commerce: The Win-Win of Dynamic Currency Conversion

Retail TouchPoints

One such payment option that has demonstrated its effectiveness in streamlining these transactions is Dynamic Currency Conversion (DCC). DCC is an optional service offered at the point of sale, allowing customers to view the cost of their purchases in their home currency. As evidenced by the data showing U.S.

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Where Payment Processing Systems Are Headed In 2020

RTP blog

market for payment systems is complex. We have over 21 million businesses, and every one of them needs some form of a payment processing solution. Payment processing is complex. However, payment technology is perhaps the best it’s ever been. However, payment technology is perhaps the best it’s ever been.

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Digital Wallets: What’s Good for the Payments Industry is Good for Retailers…Right?

Retail TouchPoints

As the online payments industry continues to evolve, new digital wallet solutions, such as mobile payment apps and e-wallet platforms, are becoming increasingly popular and reshaping the way consumers transact. 4 Pros of Digital Wallets Some of the advantages of digital wallet payment options include: 1.

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Move Past Hype to Focus on Value with AI Implementations in the POS Space

Retail TouchPoints

In the point of sale (POS) space, three AI applications show particular promise: Headcount and Heat Mapping in Brick-and-Mortar Retail Insights from shopper behavior data are valuable – and financially impactful – to retailers. Businesses must work with software providers that help them manage data consent, privacy, and compliance.

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Consumers and Merchants Should Look Before They Leap into BNPL Services

Retail TouchPoints

The economic fallout from the COVID-19 pandemic accelerated demand for buy now, pay later (BNPL) payment options. Surges in online shopping during the pandemic helped fuel the growth of point-of-sale loans — a market that is forecast to grow at an annualized 9.8% over the five years through 2024-25, to $1.1