Payment systems are an essential component in any business and can indicate a brand’s current position in the marketplace. These systems help determine if a brand is staying up to date with payment trends and innovations or if they are falling behind, still using outdated systems and payment methods.
Why is this important? I’m glad you asked!
Fashion Retailer, Rebecca Minkoff, leverages the growth of technology not only for its product line, but also for it’s payment systems. The Rebecca Minkoff brand is one of the first companies to parter with Instagram, utilizing the new shopping capability to increase the brand’s E-Commerce presence.
An upgraded payment system makes it easier for fans, or customers, of the Rebecca Minkoff brand to find the latest fashion trends with the option of purchasing directly on the social media post.
Innovative payment systems continue to emerge, such as the Square Reader, which is a POS, or Point of Sale, system designed to accept credit card transactions through a mobile device. There is still progress to be made, as some businesses remain reluctant to upgrade current payments systems.
Have you used any of these E-Commerce payment systems? Share your experiences in the comments below!