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Payment has become a challenging and complicated scenario for retailers. Mobile technology, NFC and EMV offer valuable opportunities, but at a cost. Together with payment processors, banks and technology providers, merchants must uncover the best solutions for their particular business. If it’s time for a POS upgrade, then mobile POS featuring a variety of payment options must be on the table. Access the latest trend updates, news, and case studies with this up-to-the-minute coverage.

LightSpeed Receives $35 Million To Expand Product Line

LightSpeed Cloud family funding image 1
LightSpeed
, a provider of cloud-based commerce solutions, has closed $35 Million in new funding led by iNovia Capital and Accel Partners. This is the second round of funding for LightSpeed, bringing the company’s total capital raised to $65 million. LightSpeed will use the money to help accelerate the development and release of new solutions. 

“LightSpeed is deeply ingrained in the challenges and needs of today’s retailer,” said Chris Arsenault, Managing Partner at iNovia Capital. “They’ve figured out how to make big box retail tools easy and accessible to independent retailers to help them thrive in a highly competitive market. We are thrilled to be their partner in this journey.”

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A Vote For Apple Pay: How It Will Impact Retail Loyalty Marketing

Zach-Goldstein-Thanx-HeadshotApple made a big splash on September 9 announcing Apple Pay — finally enabling consumers to make purchases with their iPhones at participating retailers.

With such a dramatic entry and a new, imposing entrant into mobile payments, retail loyalty marketers need to grasp the ramifications of how purchasing and retention marketing will evolve.

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The Move Toward Mobile POS

FEAT Payments 922014For retailers looking to foster customer loyalty and enhance in-store service, mobile POS is becoming an increasingly attractive complement to more traditional devices. In fact, according to an IHL Group study, Mobile POS: Hype To Reality, mobile POS will cannibalize 12.4% of traditional POS shipments in North America by 2016. And a report by Infogroup indicates that the number of retailers using mobile POS systems will triple by 2018.

Driving this movement toward mobile POS is the sheer number of smartphone-wielding shoppers — a whopping 58% of Americans, according to Internet analytics firm comScore. Hoping to tap into this burgeoning demographic, retailers are reaching for a widening array of mobile POS tools, aiming to strike a better balance between traditional tools and more innovative POS devices.

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Apple Spotlights Payment Security In iPhone 6 Release

iPhone6-PF-SpGry iPhone6plus-PF-SpGry NFC-PRINTThroughout the summer, industry experts speculated that Apple would include an NFC chip in the next iteration of the iPhone. At its Sept. 9 event in Cupertino, Calif., the company went a step further and announced Apple Pay — a payments service the company is touting as “an easy, secure and private way to pay.” The iPhone 6 and iPhone 6 Plus phones, as rumored, contain an NFC chip, but the devices also include a dedicated chip called the Secure Element that features Touch ID convenience.

Apple Pay launches in October as part of the iOS 8 update scheduled for that month. Apple Pay will work in stores with iPhone 6, iPhone 6 Plus and Apple Watch. The service works through iTunes and supports credit and debit cards from American Express, MasterCard and Visa. To start using Apple Pay, users can add the credit or debit card number already on file with their existing iTunes account.

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Auchan Group Selects ACI Worldwide To Provide Centralized Payments Platform

auchanAuchan Group, an international retail group of supermarkets based in France, has selected electronic payment solutions provider ACI Worldwide to deliver the Single Euro Payments Area (SEPA)-compliant European card payments platform.

Auchan Group will implement the Postilion solution as the foundation for a centralized card platform that manages electronic transactions through all channels across Europe. The platform supports the new European standard EPAS protocol, which addresses the region’s numerous local standards and regulations.

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90% Of U.S. Shoppers Received A Gift Card Over The Past Year

RR Giftcard image 1Up to 77% of U.S. consumers have given a friend or family member a gift card in the past year, while even more consumers (90%) have received one or some gift cards over the same period of time, according to the Retail Gift Card Association.

In the spring of 2014, the Retail Gift Card Association surveyed more than 1,100 U.S. consumers on their use of gift cards, their preferences for giving and spending the cards, and their overall willingness to embrace new gifting options.

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5 Obstacles To International Commerce

VP BlueSnap head shotCross-border online sales are notorious for giving merchant headaches. After dominating one market, merchants try selling in other countries, and then they get blindsided by shipping issues, tax complications, payment failures and other problems I will discuss in a moment. It shouldn’t be this way.

In an era when we can video chat with a person 10,000 miles away, it’s absurd that selling something to that same person is so complex. Consider that only 27% of U.S. e-Commerce merchants are set up to sell internationally, according to the MCM Outlook 2014 Survey from Multichannel Merchant. An even smaller percentage of that 27% will get cross-border selling right because all international merchants have to overcome five obstacles:

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Collaboration Becomes Key To Success For Retailers And Suppliers

FEAT Collaboration1 imageIn the age of the omnichannel consumer, retailers need to ensure products are available at the right time, through the right channel and at the right price.

While it seems collaboration between retailers, suppliers and manufacturers has existed for as long as the industry itself has existed, it has become more pivotal to success as consumers grow more demanding.

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EMV: The Moving Target

ArroweyeEMV has been implemented around the globe, but the US is lagging behind. Fear of high costs, uncertainty about chip specifications and cardholder verification methods, and intimidating regulatory requirements have all meant that many organizations have been slow to take on the challenge of implementing EMV, even though new regulations say they must, and the National Retail Federation says it is the only secure standard. The cost of the transition to EMV is estimated to be $8 billion, and that number, while staggering, is causing some retailers to stop dead in their tracks when it comes to implementation.

The reality is this: major retailers are installing EMV-enabled point of sale equipment now, and in less than two years, 95% of all cards in the US are expected to be EMV-capable. If you are a retailer that offers branded credit or debit cards, you must take action, but you don’t have to take an all or nothing approach. The solution is a timely, four-step approach that will allow you to get an EMV card into the market without getting locked in to one production strategy or breaking the bank.

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45% Of Shoppers Don’t Trust Retailers To Keep Their Information Safe

RR Ineractions imageAlmost half (45%) of shoppers don’t trust retailers to keep their credit and debit card information safe from potential hackers, according to a report from Interactions. Up to 44% of respondents have had their personal information stolen as a result of a security breach.

The Retail Perceptions report, titled: Retail’s Reality: Shopping Behavior After Security Breaches, offers insight into how consumers’ loyalty to brands changed following highly publicized data breaches. Up to 12% of shoppers said they stopped shopping with retailers that experienced a breach, with an additional 36% indicating they shopped at the retailer less frequently.

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Amazon Enters Mobile Payment Market With Local Register

amazon-local-registerAmazon.com has launched Amazon Local Register, a secure card reader and mobile app designed to allow local businesses to process digital transactions originating from a smartphone or tablet.

Local Register will serve as a direct competitor to mobile payment processors PayPal and Square. Retail customers who sign up for the Local Register before October 31, 2014 will receive an introductory rate of 1.75% per card swipe until January 1, 2016. The Amazon solution’s initial flat rates are less expensive than Square and PayPal, which offer swiped rates at 2.75% and 2.7%, respectively.

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How To Stop Those Self-Checkout Thieves

VP Checkout Vision head shotSelf-checkout is a marvel of technology that customers seem to love or hate.  Love, because it saves them time.  Hate, because it sometimes wastes their time because it “beeps” and no one is around to help them finish checking out.

For the retailer or supermarket, self-checkout arouses a different sort of love-hate relationship.  Love, because it cuts labor costs and saves customers time.  Hate, because it sometimes “beeps” at the customer, thereby requiring more attendant hours resulting in less labor savings.

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Goodwill Industries Investigates Possible Breach

Goodwill Industries is investigating a potential data breach that may be leaving customer and payment information vulnerable to cybercriminals. A total of 2,900 Goodwill stores could have been impacted by the breach.

The nonprofit agency and thrift store chain is investigating whether credit card data has been stolen, according to The New York Times. In a statement last week, representatives from Goodwill reported that federal authorities and a fraud investigation unit contacted the company regarding the potential crime.

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Financial Services Alum Joins First Data As CIO

First DataPayment technology and solution provider First Data has hired former Citigroup and Bank of America executive Christopher Augustin as Chief Information Officer (CIO). In his role, Augustin will lead software development and engineering processes, as well as application development. 

Most recently, Augustin was CIO and Senior Business Advisor for Marked Private LLC, where he was responsible for designing and building the company’s private messaging and social networking web site. In addition to tenures at Javelin Capital Markets LLC and Salomon Brothers, Augustin served as CIO for several prominent financial institutions, including Citigroup, Bank of America and Merrill Lynch.

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Independent Solutions Partners With NCR To Speed Self-Checkout

self checkout
Independent Solutions, an Australian POS solution provider owned by Metcash, has partnered with
NCR Corporation to extend NCR point-of-sale (POS) technology to independent retail customers.

As part of the relationship, NCR will deploy more than 100 NCR self-checkout solutions and 150 POS systems to independent retailers across Australia. Independent Solutions POS and Profit-Track technology with NCR POS technology to help reduce wait times. Self-checkout solutions can help retailers reduce wait times by up to 40%, according to internal NCR research. As a result, approximately two thirds of customers believe that stores with self-checkout options provide better customer service.

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