The growing demand for payment solutions for a variety of industries and business sizes has led to major growth in software options and partnerships
With the acceleration of digital payments making a significant impact on the ways that software and technology innovate to meet changing demands, Blackhawk Network continues to provide its retail partners with new payments innovation and access by offering new technologies for Independent Software Vendors (ISVs). As payment solutions adapt to better meet the needs of businesses of all sizes in a variety of verticals, ISVs—providers that power point-of-sale systems in retail—are finding new ways to better differentiate their service offerings to provide new, unique value to retailers and consumers.
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Research from Blackhawk Network shows that of the digital wallet growth observed in 2020, 59% of surveyed consumers have been using their digital wallet more frequently than before the pandemic began1. And, of the digital payment tools available, 48% of consumers began using QR codes and barcodes on a mobile device more frequently in 2021, which has brought a more seamless and connected payment experience to in-person shopping1. These factors have helped drive expansion for ISV partners in the payment space.
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“Integrated payments continue to grow as a major part of the retail landscape, and businesses of all sizes have an enormous opportunity to tap into these tools,” said Jarrod Newman, Director of ISV and Channel Partners at Blackhawk Network. “Partnerships with ISVs help a variety of Blackhawk’s retail partners and customers to better manage their digital payment ecosystems, adapting to changing trends and consumer demands.”
For Blackhawk, recent partnerships including Aurus Inc., Custom Business Solutions, LOC Software, Tender Retail and others are spurring growth in the ISV space. According to new research from Technavio2, the ISV market is predicted to reach 11.5% YOY growth in 2022.
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