Omnichannel is the ultimate buzzword in retail today. And, like many buzzwords, it suffers from a halo of hype and a dearth of substance.
What is it, again? A recent AdWeek article explains: “An omnichannel strategy is one that puts the customer in focus, drives engagement through personalization and provides a unified view of the ROI delivered.”
Merchant Customer Exchange (MCX), developer of the CurrentC mobile payment platform, has appointed Brian V. Mooney as its interim CEO. He succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.
Noted as a financial services and payment industry veteran, Mooney most recently served as CEO and a board member of Bank of America Merchant Services. In this position, Mooney oversaw client engagement, as well as product strategies, including mobile, sales, operations, risk and compliance. Before joining Bank of America Merchant Services he was CFO and later President of First Data Merchant Services, which provides payment technology and services to global companies.
Fraud technology provider Kount has partnered with Ethoca, a network for card issuers and merchants to connect and work cooperatively outside the payment network, to help e-Commerce merchants increase transaction acceptance levels and mitigate fraud.
Through the partnership, Kount now offers global merchants Ethoca Alerts as an additional complimentary service. These alerts are designed to catch fraud that has already been confirmed between the card issuing bank and the cardholder. Ethoca sends this data to merchants in the form of alerts that arrive in a matter of hours. Merchants would normally have to wait three to six weeks to receive this information through the chargeback and dispute process.
When Cloud99 Vapes co-owner Robert Testagrossa heard his point-of-sale system started accepting bitcoin, he set it up right away, knowing that customer demand for the alternative payment method was high.
When it comes to growing demand of payment methods such as LevelUp, Apple Pay and bitcoin, the Nanuet, NY-based vape shop is hardly alone.
GameStop is rolling out Apple Pay in all of its 4,200+ U.S. stores during March 2015, allowing shoppers to purchase products using their phones and eventually, their smart watches.
“We are excited to make it easier and more convenient for our customers to shop at GameStop,” said Jason Cochran, SVP of U.S. Stores at GameStop. “Providing a positive, memorable customer experience is our top priority. Incorporating the latest in mobile technology, such as Apple Pay, into our stores is another way we are offering customers options to help simplify their purchases.”
Starbucks initially piloted Mobile Order & Pay on Dec. 3, 2014, in Portland, Ore. Using Mobile Order & Pay, consumers can place orders via the Starbucks app and pick up their food and beverages at a selected location. Because the feature is available through the app, it also is integrated with the My Starbucks Rewards loyalty program.
PayPal has acquired mobile payment company Paydiant in an effort to expand its breadth of mobile solutions for retailers. Although terms of the deal have not officially been disclosed, a report from Re/code indicated that the acquisition will cost PayPal up to $280 million.
Paydiant provides mobile wallet and digital coupon services for organizations such as Subway, Harris Teeter and Capital One. The company’s customer list also includes the Merchant Customer Exchange (MCX), which will release its CurrentC mobile wallet app in 2015.
Last week, TechCrunch reported that Google was in talks to purchase mobile payment company Softcard, formerly known as Isis Mobile Wallet. Sources “familiar with the matter” said the deal could be worth up to $100 million.
As of now, both parties are very hush-hush about the whole ordeal. When I reached out to a representative from Softcard to glean some insight, she indicated that the company “does not comment on rumors or speculation.”
This holiday, more than half of shoppers said they would be interested in paying for a gift via their mobile device, according to research from Retale. That seems in line with the shift toward shopping on mobile devices and tablets in general. So far, it makes sense.
But what I found intriguing was that shoppers still don’t seem to be embracing Apple Pay. More than half (51%) said they would use PayPal. While this in itself is not surprising — as PayPal has earned the allegiance of many shoppers who want an alternative to credit card, debit card or cash — it shows that it does take a while to build consumer confidence.
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