The Value of a Password Manager in Retail

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Single Sign-On technology has helped to shape the current state of the retail sector. Arguably one of the most pivotal sections of any economy, the retail sector as of late has been experiencing the disruptive and transformative effects of an all-digital, interconnected world with 24/7 service and consumer access.

This trend of always on, always open retail is only going to deepen as millennials continue to grow in size and push the envelope of technological trends that rely on multiple back-end networks, mobile applications and autonomous systems that house secure payment systems.

For millennials, people who reached young adulthood around the year 2000 and represent a massive population that has been indoctrinated from birth into the digital age, digital payment and online backing systems are an inseparable fact of life. User logons, as well as applications that are more web-based are facts of life for most millennials that they have been working with since early-childhood.

The dependency in multiple autonomous but interconnected sources of secure logins exacerbates the need for Single Sign-On technology. Other factors exacerbating the adoption of a password manager technology is the cost of a password manager implementation which is increasingly more affordable, and the ease of install and use of available solutions which have democratized the technology to smaller businesses globally connected on the Internet.

This leaves potential password manager customers free to evaluate benefits without excessive concern for cost. With so many benefits to the retail sector, the best way to better understand the value of password manager within this field is to look at it from both the buyer and seller’s point of view.

Password Manager: From a buyer’s perspective

Password manager technology and the Internet opens the world to new services and goods from smaller businesses that otherwise would be inaccessible to buyers. It also affords buyers with a safe and reliable accessibility to payment systems that accommodate their demands for 24/7 shopping, back-end interconnectivity with other portals, and single-interface shopping.

This also opens the world of mobility to the buyer, letting them choose where, when and how to shop and buy. Most importantly, since password manager provides users the ability to logon to multiple applications by providing a single user name and password, the immediate benefit to the buyer is from a user-experience perspective. As opposed to having to remember multiple passwords and usernames, now the consumer just has to remember one.

Password manager: From the seller’s perspective

From a seller’s standpoint, the operational benefit of a password manager is pivotal to their business goals. password manager saves money by facilitating the password management portion of their payment systems. Password manager also helps brick and mortar retail companies expand their footprint to online buyers.

Lastly, password manager saves them time. Now instead of dealing with password reset issues, sellers can automate and outsource that component, efficiently and economically.

Password manager has helped blur the lines of online storefronts with brick and mortar shopping by allowing companies of all sizes to integrate on the back-end and provide their customers simplified access to payment systems. And in the course of doing so, password manager has helped reinvent the shopping experience for both buyers and sellers alike.

This Blog was brought to you by Hypersocket and its CEO, Lee David Painter. With over 20 years of industry experience as a pioneer in IT Security, Lee developed the world’s first OpenSource browser-based SSL VPN (SSL-Explorer). Today Lee runs Hypersocket, a leader in virtual private network technology.
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