You take an armload of clothes into the dressing room and, instead of having to flag down a salesperson for a different size, you tell the mirror what you need and it’s delivered. The mirror also tallies up your purchases when you’re ready and processes your payment. Done! It’s not magic: It’s Mastercard’s new showcase store in New York. Payments are changing the retail experience. Will consumers buy it?
Mastercard’s “Smart Mirror” Reflects a New Future for Retail
Mastercard has so many good ideas for revolutionizing retail that it’s opened its own store in New York’s Soho neighborhood. Among the smart features: a “smart mirror” that scans your items when you enter the dressing room, then offers different sizes as needed and checks you out when you’re ready to buy.
Consumers Not Keen on Facial Recognition for Payments
Smart mirrors sound fun. Using your face to unlock payments on your smartphone? Maybe not, according to new research. A Juniper Research survey reveals more than 40 percent of iOS users in the U.S. consider themselves unlikely to use facial recognition as a payment security technology.
Does Kohl’s Plus Amazon Equal Retail’s Future?
Department store Kohl’s is planning to accept Amazon’s returned merchandise in its stores. Will this drive new foot traffic to struggling Kohl’s locations?
Apple Pay Hits Aldi as Part of Its Payments Push
Apple Pay is now accepted at 1,700 Aldi locations, but the news isn’t all good for Apple. Who else is in store at Aldi’s?
Amazon Pay: Would It Change Everything?
“If Amazon created their own “Pay” solution and enticed all current customers both on-line and in retail locations to use their payment device, the face of the payments industry as we know it today would certainly change,” author Sarah Grotta, director of Mercatory Advisory Group’s Debit Advisory Service, begins.