German financial technology company Wirecard has created a prototype of an interactive in-store screen with integrated payment technology.

Called the 360˚ Retail Experience, it was developed at Wirecard’s Innovation Lab to meet the demands of modern shoppers.

A recent Wirecard-commissioned global survey found that most shoppers are ready and waiting for retailers to implement innovative payment methods and in-store technologies to enhance their shopping experience.

The 360˚ Retail Experience is a multi-touch screen equipped with capacitive object recognition. The shopper can take an item from the store, for example a sneaker, place it on the screen, and be presented with various features including hyper-personalisation, social media sharing and instant checkout.

The screen combines the digital must-have that today’s consumers seek, with an entirely in-store experience from which brick and mortar retailers benefit. The possibility to checkout via app or mobile site, which can be tailored to the retailers’ preference, and then have the item delivered to a preferred location, gives shoppers a unified commerce experience: a fully digital online checkout carried out in-store, where the shopper can touch and feel the product before buying it.

“Shoppers want more cutting-edge tech, and retailers want to delight shoppers while bringing them back into stores,” said Jörn Leogrande, EVP of Wirecard Labs. “The 360˚ Retail Experience delivers on both of these needs: customers can see products in person, while enjoying all the benefits technology brings to the retail experience including a quick, fully digital checkout. We see the 360˚ Retail Experience and similar solutions becoming widespread in the very near future, and we are excited to be at the forefront of this customer experience revolution.”

Wirecard provides businesses and consumers with an expanding ecosystem of real-time value-added services built around digital payments. This ecosystem concentrates on the areas of payment and risk, retail and transaction banking, loyalty and couponing, data analytics, and conversion rate enhancement in all sales channels including online, mobile and ePoS. Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licences from all major payment and card networks.