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Education

stress and overhead costs that can form around it—that is,
setting up the technology to work and keep working for
them in the long-run.

Successful MSPs cannot rely solely on technology trends
to sell their products and services; they need to be a part
of the retailer's growth to help them excel in what they
do best. Technology can seem overwhelming to a busy
brick-and-mortar retailer. Companies providing high-tech
solutions also need to consider retailers' pain points. A
Payment card processing busy store owner has little time or availability to read user
manuals, navigate complex user interfaces, and learn about
trends in 2023 less-than-obvious technological features. So it's important
for technology providers to keep their offerings extremely
user-friendly and offer stellar customer support.
By Elie Y. Katz
National Retail Solutions In the United States today, many mom-and-pop
establishments are family-owned, and with the country's
oday, almost anyone can learn the trades of growing immigrant population, ethnic communities are
merchant service providers (MSPs), indepen- growing and supporting their local stores, see https://pewrsr.
dent software vendors (ISVs), and independent ch/42gZDFP. So it's additionally valuable for technology
T sales organizations (ISOs). And with proper providers to offer support in various languages.
research, store owners can find technological solutions to Trending technologies in 2023
advance their businesses. Consequently, unlike when they
had only cumbersome AIO POS terminals, retailers can While it's important to not rely only on trends, it's also
easily research trendy credit card machines and retrofit important to know which ones are trending now. Following
iPad or Android devices to optimize their transactions. are several technologies gaining traction in 2023.

Now that such tools can be conveniently acquired and • Mobile payment: Mobile payments will likely re-
implemented by anyone with minimal help, many business place credit cards as the preferred payment method.
owners are purchasing POS systems compatible with Merchants will use their smartphones for checkout
credit card readers to take customer payments seamlessly. without swiping or dipping a physical credit card,
That's why many POS systems now accept EBT, EMV, a trend that offers a more convenient form of pay-
Apple Pay, Google Pay, etc. The ways businesses handle ment while reducing the risk of fraud. Plus, for con-
everyday transactions is evolving rapidly. sumers, making a few taps on your smartphone is
much easier than rummaging through your wallet
Trending in a long line of impatient people. Mobile payment
has probably outsmarted credit cards as the most ef-
There's been a paradigm shift toward transparency in ficient form of payment.
recent years, especially in the fintech industry. One
would be hard-pressed to find business ideas not being Most Americans also believe the trajectory to be
openly shared, known and competed around. The fintech shifting toward smartphone payment. According
industry has plenty of technology providers, with many to the vice president of Harris Poll and Public Re-
credit card processing companies competing heavily for lations, "The biggest news for retailers is that most
retail customers. Americans believe this is coming. Granted, not
overnight or this year, but it's not the distant future
The actual trends are not about who renders the hottest either." Remember, this does not eliminate the need
products and services, but rather who offers retailers to process cards or cash. Still, as technology contin-
the most ethically organized, conscientiously clean and ues to evolve, younger generations will likely adopt
productive solutions. Payment acceptance companies must mobile as their primary form of transaction.
comply with PCI Security Standards Council requirements
encompassing compliant hardware, a secure network with • QR codes and self-service kiosks: Merchants de-
a firewall, antivirus software and authentication data. sire convenience. QR codes and new inventory tech-
nologies are on the rise. Businesses have started
A true partner using QR codes as a primary form of marketing.
With the internet at everyone's disposal, it's inevitable One Super Bowl commercial even had a QR code as
merchants will stay updated about the latest gadgets. the main display in the advertisement. Businesses
Coincidentally, technology providers are shifting toward would be remiss to disregard the importance of QR
silent partnerships. The path of virtue dictates that fintech codes.
providers help their clients do what they initially set out Personal kiosks became the preferred method of
to do, which is good business without the complicated
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