With an increasing number of big-box retailers embracing mobile credit card processing equipment, it looks as if the retail payment landscape is set to undergo significant changes over the next few years.
For instance, department store chain Nordstrom has been providing its employees with tablet devices that are equipped with mobile credit card processing capabilities. However, as The Wall Street Journal notes, the chain sees mobile credit card terminal availability as much more than just a way to augment existing transaction methods. Rather, it plans to go “completely mobile,” according to the news source.
As the Indianapolis Star reports, Nordstrom’s approach is far from anomalous. A number of other big-box retailers – including Starbucks, Apple and athletic retailer Finish Line – have jumped on the mobile payments bandwagon as well, prompting some experts to go as far as to herald the demise of the traditional point-of-sale setup.
“This is the road to the extinction of the cash register,” predicted Richard Feinberg, professor of consumer sciences and retailing at Purdue University, as quoted by the newspaper. “We have just gotten on the highway and not yet reached 65 miles per hour, but it will happen – sooner rather than later.”Back To Blog