How Cashless Retail Changes Analytics Strategy

PIERRE DEBOIS | October 3, 2019

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The familiar line from the American Express commercials, “Don’t leave home with it,” was meant to have consumers remember their credit cards. It is an especially useful reminder when purchasing online. With the advent of cashless retail (or cashierless retail, as some experts are claiming), consumers can shop via the convenience of their smartphones now, which can render a website less important in an ecommerce strategy. That shift alters the analytics strategy as well. Smartphones are at the center of the cashless movement. Consumers have grown reliant on them for more than calls the new Lincoln Aviator can be unlocked and locked through a smartphone. Consumer adoption of mobile devices and additional self-service options such as ordering kiosks has blended the retail experience in-store with online convenience.

Spotlight

Alipay

Facing individual users, Alipay, the world's largest mobile and online payments platform, operated by Ant Financial, is a lifestyle platform based on real name authentication and creditworthiness. Since its establishment in 2004, Alipay has partnered with more than 200 financial institutions in providing payment services to tens of millions of small and micro merchants, leading to a continual increase in service use cases. Alipay's popularity with users has continued to increase. Over 520 million people are now active Alipay users.

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