How smarter payments are reshaping retail

For many retailers, the checkout is still viewed as the final step in the customer journey. But in reality, it’s the beating heart of the store. It’s where revenue is captured, customer experience is shaped and data is generated. And when payments are optimised, everything downstream – from reconciliation to staffing – runs more smoothly.

Modern payment terminals now do far more than accept cards. They integrate with point-of-sale systems, support contactless and mobile wallets, and enable real-time reporting. This means fewer errors, faster transactions and better visibility into what’s happening on the shop floor.

Take contactless payments, for example. In 2024, over 1.5 billion contactless point-of-sale payments were made in Irish shops, restaurants and other retail outlets – that’s 87% of all card payments. In the UK, some 95% of all in-store card payments under £100 were made using contactless in that year.

A tap-and-go transaction is not only faster – it’s also more hygienic, more secure and less prone to delays caused by chip and PIN or handling cash. For retailers, that translates into shorter queues, happier customers and more efficient staff deployment.

Let’s not forget the customer. Shoppers want speed, convenience and choice. They want to pay with their phone, their watch or their loyalty app. And they want to feel confident that their data is secure.

Smarter payment systems support all of this. They enable digital wallets, tokenisation and biometric authentication. They allow for seamless refunds and split payments. And they integrate with loyalty programmes to reward repeat customers instantly.

The move away from cash seems unstoppable. In Ireland, some 70% of consumers use contactless regularly, and nearly 40% say they plan to use cards even more in future. In the UK, only 4.4 billion cash transactions were recorded in 2024, compared to 26 billion debit card payments.

For retailers, this means fewer abandoned baskets – whether that’s a shopper clicking out of an online checkout or, literally, walking away from a queue in-store and leaving their unbought goods behind. 

A frictionless payment experience helps reduce those moments of hesitation, encouraging both impulse purchases and repeat visits. In a market where differentiation is hard to come by, offering a seamless way to pay can be a real competitive edge.