What:  A full report on the evolution of checkout and payment systems available on the market.

Why it is important: RFID, smart carts, self-checkout, biometric identification and AI are all game changers that retailers need to take into account.

Coresight Research predicts that the US market for checkout and payment technology, comprising hardware and software for secure and efficient checkout processes, will grow at a CAGR of 11.5% through 2027 from USD 22.6 billion in 2023.

Retailers are adopting technologies like RFID-based checkout, smart carts, biometric authentication, and identity verification to streamline the checkout process, enhance customer experience, and reduce operational costs. AI-powered chatbots offer potential for a personalized checkout experience and valuable data, albeit with privacy and security considerations.

In the future, augmented reality, digital identities, cashless and contactless payments, and AI will make the checkout process more seamless, personalized, and secure. Traditional payment providers must adapt to these changes or risk losing market share to tech-driven competitors

The evolution of checkout