OPERATIONS

Here’s how NYC’s Hudson Yards plans to spur shopper spending

BY Deena M. Amato-McCoy

As Manhattan’s newest mega-neighborhood inches closer to its promised grand opening, the destination has made a new move to attract visitors.

Hudson Yards, the mixed-use development that will be home to more than 100 shops, is partnering with Visa on a “connected commerce” program. Through the deal, Visa will develop “only at” payments experiences for cardholders on the property. In addition to offering access and perks to cardholders, the program will allow customers to tap to pay with their contactless card or payment-enabled device at checkout.

The partners are focusing on contactless payments because more than 40% of Visa domestic transactions – excluding the U.S. – occur with a single tap, according to data from VisaNet.

All Visa-Hudson Yards-specific programming will be aimed at a global audience, and showcase the speed and convenience that contactless technology offers both retailer and consumers, according to Hudson Yards.

“Hudson Yards is the neighborhood of the future, bringing together brands and companies at the forefront of their industries to create an entirely digital ecosystem for visitors,” said Stacey Feder, chief marketing officer, Hudson Yards. “Visa’s leadership in contactless transactions makes them the ideal partner to help shape this new center of commerce for the next generation.”

Manhattan’s newest neighborhood, which will feature stores including New York City’s first Neiman Marcus, Banana Republic, Coach, Lululemon, Zara, and H&M, is on track for its promised grand opening in March of 2019.

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