This is a preview of a research report from BI Intelligence, Business Insider’s premium research service. To learn more about BI Intelligence, click here.
The downfall of US brick-and-mortar commerce is overblown — despite sharp gains in e-commerce, which will nearly double between now and 2021, the lion’s share of purchasing continues to take place in-store. And that’s unlikely to change anytime soon, since the online environment can’t yet compensate for the reasons customers like brick-and-mortar shopping.
That means the point-of-sale (POS) terminal, which merchants use to accept payments of all types and to complete transactions, isn’t going anywhere. But that doesn’t mean it’s not changing. As merchants look to cut costs amidst shifts in consumer shopping habits, POS terminals, which were once predominantly hardware offerings used exclusively for payment acceptance, are evolving into full-service, comprehensive solutions. These new POS terminals are providing an array of business management solutions and connected offerings to complement payment services. See the rest of the story at Business Insider
- Amazon Alexa may get P2P capabilities
- Amex cuts merchant fees to in order to increase business
- Here’s what payments companies should know about tariffs