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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.

Most Consumers Carry Less Than $20 In Cash

walletIn today’s omnichannel environment, retailers are pressured to provide exemplary service at every touch point. Some retailers are even refining their payment offerings to become more digital, which aligns significantly with customer wants and needs.

After all, more than 55% of consumers say they carry less than $20 in cash with them on a typical day, according to research from SecureNet. Among 18-to-29-year-old shoppers, that total leaps to 68%.

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Adyen Processes $25 Billion In Transactions During 2014

adyen logo large 1Global payments technology provider Adyen processed $25 billion in payments transactions in 2014, an 80% increase over 2013. Year over year, the company also experienced revenue growth of more than 100% and a 40% increase in customer wins. Payment transaction volume quadrupled among U.S.-based customers over the past year, according to a company statement.

In December 2014, Adyen raised $250 million in Series B funding from growth equity firm General Atlantic and investment firms Index Ventures, Felicis Ventures and Temasek Holdings.

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FreedomPay Expands Retail Network Across Data And POS Providers

freedompayFreedomPay, an e-Commerce payment solution provider, has expanded its retail ecosystem to help merchants deliver more personalized offers and experiences to customers.

HP, Neal Analytics, Panasonic, Revel Systems POS and Verifone all have partnered with FreedomPay to integrate their solutions into its Commerce Platform. The platform is hosted on the Microsoft Azure cloud, is enabled with EMV and NFC,  and is validated by the PCI Security Council for Point-to-Point Encryption (P2PE).

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Does Apple Pay Have A Trust Problem?

Kim head shotThis 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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Sparkle CS App Store Unifies E-Commerce And Payment Systems

SS SparkleCs ImageRetailers still using legacy systems are having a difficult time bridging the gap between in-store POS systems and their e-Commerce platforms. With an updated infrastructure, retailers have the opportunity to adopt e-Commerce functionality in-store and create a more seamless omnichannel experience.  

Sparkle CS has developed the App Store for POS, a Platform-as-a-service (PaaS) that allows retailers to connect physical POS systems to the omnichannel digital marketplace without modifying POS software.

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Chick-fil-A Investigates Potential Breach

chickfilaChick-fil-A has announced that it is working with law enforcement and security experts to investigate suspicious activity involving payment cards used at several of its restaurants.

The fast food chain received initial reports from payment industry contacts on December 19 and is working to confirm whether a breach did, in fact, take place. However, security expert Brian Krebs indicated in an article that he first heard rumblings of a potential breach in November.

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Epicor Integrates With AJB FIPay To Accelerate EMV Adoption

EpicorAJBEpicor Software Corporation is partnering with payment solution provider AJB Software Design to provide retailers with a single payment solution that can handle high transaction volumes and accommodate EMV payments.

“Simply meeting PCI compliance standards is no longer sufficient to protect customer data,” said Perry Kramer, VP and Practice Lead at Boston Retail Partners. “The best way to reduce overall payment card exposure is with a multi-tiered security approach with a combination of EMV, encryption and tokenization.”

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ChowNow Adds ApplePay To Online Ordering Solution

chownow2ChowNow, an online ordering solution and smartphone app developer for restaurants, will offer Apple Pay as part of its platform, making it the first online ordering program to offer the payment technology. All ChowNow client ordering apps will accept Apple Pay by January 2015.

With the Apple Pay integration, ChowNow will enable diners with an iPhone 6, iPhone 6 Plus or Apple Watch to complete orders with a fingerprint instead of manually inputting their credit card numbers and billing addresses. As a result, restaurants will be able to provide ease and convenience to customers, helping to boost satisfaction and overall order volumes.

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Cybersecurity Is Not Just For Payments

VP SAS head shotOver the last year, payment card security — or actually, the lack of payment card security — has been one of the top discussions among retailers and consumers. New payment technologies are coming forward such as Apple Pay and Point-to-Point encryption, but will those new payment technologies do the trick?

A recent study by ACI Worldwide and Aite Group titled, Global Consumers: Concerned And Willing To Engage In The Battle Against Fraud,  found retailers have little consumer trust when it comes to data security. Only 55% of survey respondents said they think the stores they frequent deploy security systems to prevent data breaches. And nearly one third of respondents (29%) said they don’t trust retailers to protect their personal and financial data from criminals.

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Mobile Transactions To Reach 2 Billion By 2017

mCommerceMore than two billion consumers will complete a transaction using a smartphone or tablet by the end of 2017, an increase from 1.6 billion in 2014, according to a report from Juniper Research. Additionally, mobile shoppers will complete 195 billion mobile commerce transactions annually by 2019, almost tripling from the 72 billion transactions estimated for 2014.

The report, titled: Mobile Commerce Markets: Key Sector Strategies, Opportunities & Forecasts 2014-2019, assesses emerging trends in key m-Commerce markets. Seven different markets are analyzed in the report, including: digital and physical goods; NFC mobile payments; mobile money transfer; mobile ticketing; mobile coupons; mobile banking and mobile gambling.

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Blackhawk Gift Cards Now Available At Select USPS Locations

USPSThe United States Postal Service (USPS) and gift card and payments provider Blackhawk Network have entered a distribution deal that allows USPS to offer closed loop gift cards from Blackhawk at select post office locations.

“The USPS is excited to work with Blackhawk Network to offer gift cards in our post offices – it is a completely natural fit,” said Nagisa Manabe, EVP and Chief Marketing and Sales Officer of USPS. “We have been focused on providing more consumer services and products, and working with Blackhawk allows us to offer one of the best managed programs and product suites to our customers.”

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Pose Simplifies POS For SMBs

SS PosePOS ImageSmall and mid-sized businesses (SMBs) need best-in-class tools and techniques to help them run their businesses more efficiently and compete more effectively against their competitors.

Pose has launched a cloud-based POS system designed to integrate with any computer, laptop or tablet device, allowing SMBs to create a more streamlined and enjoyable brick-and-mortar experience. Store associates can tap into the back end of the system to access a plethora of data and even track customer purchases.

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Stripe Raises $70 Million, Valued At $3.5 Billion

stripeOnline payment services provider Stripe has secured $70 million in funding, according to a report from The Financial Times. Investors in the round include Sequoia Capital, General Catalyst, Founders Fund, Khosla Ventures and Thrive Capital.

The new round of funding doubles Stripe's valuation from $1.75 billion to $3.5 billion. The company received $80 million in funding in January 2014, and altogether has raised a total of approximately $190 million, according to CrunchBase.

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Porter’s Brings POS To Cloud With Springboard

portersMore retailers are moving their POS systems from the store to the cloud, so they can access and analyze sales, customers and products across multiple stores. Having this real-time access to data empowers retailers to keep a constant pulse on business performance and make the necessary changes to improve results moving forward.

Prideful in its ability to keep up with the latest industry and technology trends, specialty crafts retailer Porter’s Craft & Frame has implemented Springboard Retail to keep track of performance during the competitive holiday season. In September 2014, the retailer replaced its 15 PC-based POS terminals in two stores with tablets featuring the Springboard retail management platform.

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