February 8, 2024 - Retail payments innovation is charging ahead at breakneck speed. Mobile wallets, cryptocurrencies, merchant-initiated payments, buy now pay later, and more are transforming consumer experiences and merchant operations.

To dig into these developments, we sat down with Chris Gilderson, our Head of Retail and Hospitality, to get his expert opinion on the dynamic retail payments landscape, including providing insight into the next generation of PXP Financial’s offering.


Can you explain a little bit about your role and background?

Chris: “I began my journey with PXP fresh out of college and have been a part of this dynamic organization for 25 years. My career here has been diverse, with a significant portion dedicated to operational customer service and onboarding. Around seven to eight years ago, I transitioned into handling some of our key accounts, overseeing the comprehensive support provided to our customers.

My close interactions with these key accounts, through regular service reviews and more, naturally evolved into a formal role in account management.

In November last year, I embraced a new challenge within the commercial team. My current role, Head of Retail and Hospitality, involves leading a dedicated team focused on account management and fostering new business partnerships. We primarily concentrate on the hospitality and retail sectors, with additional involvement in the cruise and travel industries."

What are the latest emerging trends and opportunities in retail payments?

Chris: “The most notable trend is obviously the adoption of contactless. If you look at where we were 12 to 18 months ago, adoption has increased massively. For example, our statistics show 96% of transactions were contactless in the stores in Austria. At the beginning of the year, the percentage of contactless transactions in the US was around the low 30s – it's now in the mid-40s. The US is definitely catching up but remains behind the rest of Europe, which is really high on the contactless, which will enable things like SoftPOS mobile payments to be checked out.

“We’ve also seen a widening of what people use to make contactless payments with; wearables are taking the form of anything from rings and bracelets to watches and keyrings – anywhere you can put a payment chip!"

“Another trend to mention is the growing adoption of digital and mobile wallets, which is changing the retail landscape, offering consumers and merchants speedy, convenient transactions and the potential for enhanced loyalty schemes. Alongside, the rise of cryptocurrency in retail signifies a shift towards more secure, efficient, and globally accessible payment methods.”


Can you tell us a bit more about PXP’s retail customers and their needs?

Chris: “We look after some big merchant clients and we do different things for all of them, but we see common themes. More than ever, retailers are quickly having to adapt their trading models and must now support various paths to purchase and channel combinations. We’re here to provide modular and configurable systems, which means our retail customers can scale up or launch quickly, as well as turn on additional sales channels post-launch, easily, when they need to. This integration is crucial for retailers to stay competitive, offering a seamless, unified payment solution that caters to the evolving preferences of today’s consumers, wherever they are."

“It’s been particularly interesting to see some retailers moving away from opening stores with point of sale in them, opting for mobile payment apps connected to a mobile payment device, in favour of fixed points of sale – a trend growing more rapidly moving forward”

In your view, why do retailers choose to work with PXP?

Chris: “Retailers continue to work with PXP because we're a partner. We're transparent and agile, and we provide a much more expansive service than our competitors, acting as an extension of their team.

Our proven track record in delivering stable platforms goes beyond mere reliability. It's not just that our clients seldom need to discuss payment performance – a reflection of our seamless integration – but more importantly, our solutions actively contribute to their strategic success and bottom-line improvement. Our approach transforms payment processing from a routine transaction into a strategic asset. By being 'invisible' in daily operations due to our unmatched reliability, we allow retailers to focus on growth and customer experience. Behind this effortless functionality is our commitment to continuous innovation and optimization, ensuring that our payment solutions are not just a background process, but a driving force in the financial and strategic advancement of the businesses we serve."


About PXP Financial

PXP Financial offers a comprehensive end-to-end payment platform, providing a single, unified payments solution that caters to online, mobile and point of sale transactions. Backed by in-house acquiring capabilities, a diverse array of 120+ alternative payment methods and a suite of financial services, PXP Financial processes over EUR 22.7 billion annually through its unified gateway. 

To find out more about the PXP Financial family of companies please visit: pxpfinancial.com