Generations Argue About Money… Again
Merchants weigh in on the pros and cons of Digital Wallets for the future
By: Passfeed, Inc.
Many merchants and retailers have made the switch to go paperless — that is, they've converted to using e-wallet technology for consumers to make purchases. Retail giants like Walgreens and Target have made Digital Wallet payment options available within their stores over recent years. Since shoppers' details are stored within the Digital Wallet software, consumers don't need to physically swipe their bank card and re-enter their PII (Personally Identifiable Information)
While the convenience of Digital Wallets have been well documented, older generations of mom-and-pop shops may still be wary of their usefulness. Brick-and-mortar merchants, accustomed to tried-and-true payment methods, may be reluctant to switch to e-wallet technology. A mentality of "If it's not broken, don't fix it" could be enough to keep certain retailers away from such growing trends and that stubbornness may cost them more than their pride.
Restaurants that have more traditional ways of paying — i.e. cash and cards — may be getting left behind as well. Successful food chains like Jamba Juice, Jersey Mike's, Baskin Robbins and McDonald's have all gotten on board with customers wanting a quicker way to check out. A local eatery that isn't as well known or financially secure may not think they need to make such a change, but the best businesses are the ones that adapt with the times, right?
Generations of businesses — big, small and everywhere in between — are aware that they must keep up with consumers' wants and needs in order to survive. Those that embrace Digital Wallets can enjoy a faster, more secure way to make transactions with their customers. Those that don't may fall to the wayside, as cashless and cardless payment options will eventually be the only option that customers want.
Passfeed was founded in 2018 by Richard Wang, a start-up entrepreneur with several well-timed exits. Driven by the desire to expand the boundaries of online shopping and financial services, Richard's upstart start-up manages to "Never Be Boring." Consumers can shop, download funds into the App's digital wallet, receive virtual debit cards and even take advantage of the new PayLater service — all while earning Rewards and iPoints for everyone involved.
You can learn more about Passfeed by clicking on the website link here (https://www.passfeed.com/
If you would like more information about this topic, please call: Dennis Sary, Marketing Director at (929) 332-2099, or email at firstname.lastname@example.org.