Some companies launched new solutions to upgrade existing merchant checkout experiences. For example, point-of-sale provider Verifone recently announced plans to provide its payments-as-a-service (PaaS) platform to Israeli supermarket chain Shufersal — including local EMV compliance solutions, access to third-party apps and omnichannel tools for insights into customer purchases, both online and in-store.
Additionally, in California, a service called Fair recently launched, enabling customers to shop, get approved and purchase or lease a vehicle all from the confines of a mobile app. The PaaS space is on the move, and keeping up with recent developments can make all the difference for a business’ bottom line.
Here are the numbers:
125 billion | Anticipated value of the point-of-sale terminal market by 2024
21 billion | Number of connected devices Visa anticipates will be deployed globally by 2020
2.3 million | Number of merchant locations that accept EMV chip cards as of June, according to Visa
473 | Percentage increase of U.S. storefronts that accept chip cards as a payment method since 2015
47 | Percentage share of consumers who prefer to use mobile apps over cash (45 percent) to make payments
6.2 | Percentage portion of credit card balances that became 30-days delinquent in Q2 2017, a 5.1 percent jump over the same quarter last year
