POPcodes, a startup focused on improving consumer, merchant and acquirer experiences, has been selected as a finalist in the 2018 Canadian FinTech & AI Awards. The Awards are held on November 26th in Toronto and bring together over 4,000 of Canada’s top entrepreneurs to attend the formal black tie Awards Gala.
POPcodes®, a startup focused on improving consumer, merchant and acquirer experiences, has been selected to showcase their unique solution to over a thousand attendees of the FinTech South conference at the Mercedes-Benz Stadium in Atlanta, Georgia May 7 & 8, 2018.
The influence of mobile technology on retail in this century has been truly astounding. By 2003, 95 million people around the globe made a payment via their mobile device. By 2015, there were 500 million users making 50 billion transactions for a total volume of 610 billion USD. With mobile wallet growth on the rise, could it be the next subset of mobile commerce to reap the benefits of a mobile hungry populace? Over the last five years, m-commerce has enjoyed a 30% compound annual growth rate (CAGR) that is showing little sign of slowing down. If brick and mortar retail is still king, what will it take to bring mobile wallet adoption out of the hands of early adopters and into the hearts and minds of shoppers worldwide?
It is clear from the study that consumers want speed, convenience and timely communication for a better BOPIS experience. Currently, a small portion of total purchases are completed through click and collect, but it is growing in use, with 49% of Americans trying it for the first time in 2016.
Retailers can benefit from creating a winning in-store experience — 59% of buyers expect to purchase additional items at least some of the time. Retailers should explore if they can provide incentives to convert the 41% of customers who are not likely to purchase additional items.
It is interesting to note that 77% of shoppers did not want to be dragged all the way to the back of the store to pick up their items. Businesses should balance their financial motives to upsell patrons entering their stores to pick up their items with the speed and convenience that they expect.
Retailers should focus on creating a winning in-store experience by enabling what matters most to click and collect consumers: speed, convenience and timely communication.
In sector after sector, companies are asking how they can adapt to the digital world—how they can build more digital capabilities, create more digital offerings, and even become “digital first” organizations.
But for institutions that have served customers for decades in person and over the phone, digital too often falls short. After the debut of a new app, for example, a jump in sales may not be as big as expected, while hoped-for operational efficiencies—such as a reduction in expensive call-center and in-store customer-support requests—hardly materialize.
Executives naturally wonder why: aren’t customers demanding digital? Without question, they are. But not to the exclusion of other channels, which remain critically important.
According to the study, 60% of retailers consider Amazon at least somewhat of a competitor. These companies also continue to grapple with free shipping, email communications and better access to customer data to mimic what Amazon does best: provide highly personalized and convenient experiences for customers.
Specifically, 63% of retailers believe free shipping for loyalty program members is one of Amazon’s most impactful consumer-facing technology initiatives. Yet, only 10% of retailers have significantly increased investment in technology to better compete with Amazon. Meanwhile, 29% of retailers haven’t even changed their data collection and analysis processes as a result of Amazon’s influence.
BOSTON – Jan. 25, 2017 – PRLog — POPcodes, a startup focused on improving consumer, merchant and acquirer experience, has been asked to participate in Catapult 2017 at the Northeast Acquirers Association conference in Boston between January 31st and February 3rd.