POS / Payments / EMV

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.

EMV Liability Shift Deadline Arrives. Are Retailers Ready?

NB EMV 092215October 1 has finally arrived, and retailers that have not updated their payment terminals to meet Europay, MasterCard and Visa (EMV) standards are now liable for some fraudulent payment activities — shifting the responsibility away from banks and credit card providers. Have retailers planned effectively and implemented the required new technologies in stores? Perhaps even more critically, are consumers equipped and informed about the new standards and payment procedures?

Retailers across all categories are spending close to $8 billion to complete the necessary upgrades that enable their point-of-sale (POS) terminals to accept EMV payments, according to the Retail Industry Leaders Association (RILA). The organization also expects that most large retailers will complete the POS upgrades this fall to accommodate the liability shift.


Lightspeed Raises $61 Million To Drive International And E-Commerce Expansion

Lightspeed, a POS platform for retailers and restaurants, has secured a $61 million funding round co-led by Canadian investors Caisse de depot et placement du Quebec (CDPQ) and Investissement Quebec (IQ), alongside existing investors Accel Partners and iNovia Capital. This brings Lightspeed’s total funding to date to $126 million.

The financing will support the company's global growth, technology infrastructure enhancements and deeper investment in its omnichannel offering.


Macy’s Makes PayPal A Payment Option In-Stores And Online

paypal macysMacy’s will offer PayPal as a payment option for consumers shopping in stores, online and through its mobile properties by the end of September 2015.

Customers will be able to use PayPal in all Macy’s and Bloomingdale’s, Macy’s Backstage and Bloomingdale’s Outlet locations, according to Robert Clarkson, VP Large Enterprise Retail Sales and Partnerships at PayPal, who delivered the news via a blog post. The integration also will enable Macy’s customers to check out more quickly and securely online or via mobile using the PayPal button. The PayPal function also includes a One Touch feature, so shoppers who opt in can complete online transactions without having to type in any payment credentials, usernames or passwords.


EBay Puts The Brakes On PayPal Rival Payment Systems

0524 ebay 630x420EBay will no longer allow its sellers to offer PayPal rival services ProPay, Skrill and Paymate as payment options. Sellers using the services will have at least 30 days to change to accepted payment methods.

The marketplace first announced the change in an email sent to sellers on September 27: “Over the course of this year, eBay has conducted a global review of the use of payment methods on its web sites. Given the very low usage of ProPay and Skrill on eBay’s various sites, from the week of Sept. 27, 2015, these payment methods will no longer be supported. Please revise the payment methods offered on Good ‘Til Cancelled listings to avoid them being taken down 30 days from their initial listing date.”


Mobile POS Helps Chocolatier Become A Portable Business

When it comes to managing their overall retail presence, SMB owners sometimes stretch themselves too thin as they try to serve multiple areas of the business at once. Because they often have a plethora of daily tasks to address, they may be forced to use manual processes that are outdated and stall the company’s growth.

As Co-Owners of Georgia-based chocolatier M Chocolat, sisters Maritza Pichon and Marlena Snyder sought a cloud-based system that could help them track sales, vendor relationships and inventory levels without consulting a part-time IT professional.


Synchrony Financial Integrates Samsung Pay Into Credit Cards

1samsungpayPrivate label credit card provider Synchrony Financial now allows Synchrony Bank-issued credit cards to be accessed through Samsung Pay. The new mobile payment service is expected to launch in September 2015.

Samsung Pay leverages Magnetic Secure Transmission (MST) and NFC technologies to integrate with most existing payment terminals. All of Synchrony Bank’s payment solutions and CareCredit cards, including approximately 12 million active accounts, will be compatible with Samsung Pay.


CurrentC Launch Potentially Delayed Beyond 2015

currentcCurrentC, the mobile payments app created by the Merchant Customer Exchange (MCX), may not launch in 2015 as initially planned, according to Brian Mooney, CEO of MCX, in an interview with Re/code.

The app, which is positioned as a key competitor for Apple Pay, Google’s Android Pay and Samsung Pay, will begin a public pilot in Columbus, Ohio within “a few weeks,” according to Mooney.


Rite Aid To Accept Apple Pay Nationwide

8Rite-Aid-Apple-Pay-800x439Ten months after disabling Apple Pay capabilities from its stores, Rite Aid announced that it will accept the mobile payment option in all 4,600 locations nationwide. Starting August 15, the retailer also will accept Google Wallet, Android Pay and tap and pay credit and debit cards.

“Increasingly, consumers are actively seeking out and incorporating mobile technology into many facets of their life, including their shopping and purchasing decisions,” said Ken Martindale, CEO of Rite Aid Stores and President of Rite Aid Corporation. “By accepting mobile payments, we’re able to offer Rite Aid customers an easy and convenient checkout process, which we know is important to them. Investing in mobile technologies is just one piece of Rite Aid’s evolving digital strategy and we will continue to explore, test and implement innovative technologies that will help us to better serve our valued customers.”


Fred’s Investigates Security Breach On Two Servers

fredsDiscount retail chain Fred’s has revealed that a hacker gained access to two servers that process payments data after credit and debit cards are swiped. The hacker placed a malware program capable of copying payment card data on both servers on March 23, according to a company regulatory filing. The program appeared to stay active on one server until April 8 and on another server until April 24.

The malware program was designed to search for and retrieve track 2 data — data from payment card magnetic stripes including the card number, expiration date and verification code. However, Fred’s did not find evidence that the track 2 data was removed from the company’s system, according to the filing. No other customer information was at risk during the breach.


How To Create In-Store Experiences That Keep Shoppers Coming Back

AVP site only Vend headshotFinding ways to lure people into stores isn’t as big of a challenge as some retailers may think. After all, there isn’t a shortage of ways to drive in-store traffic. There are plenty of tactics — including the use of loss leaders and PR stunts — that can lure customers into stores.

But these things, while effective, aren’t always sustainable. And this is where the real challenge lies. Any retailer struggling with improving in-store sales should go beyond gimmicks and short-term gains, and instead focus on strategies that can not only bring people in, but also get them to stay and come back.


Epson Unveils New Products, Partnerships At RetailNOW

epsonEpson has unveiled a series of new products at the Retail Solutions Providers Association (RSPA) RetailNOW conference, which is being held August 2-5 in Orlando, Fla.

The new hardware includes the TM-m10 and TM-m30 mobile-friendly POS receipt printers, as well as three new additions to the Mobilink printer series. During the event, Epson also announced a new distribution agreement with M-S Cash Drawer.


Stripe Now Valued At $5 Billion Following Partnership With Visa

Visa has formed a strategic partnership with online payment provider Stripe to support new technologies and online payment experiences for merchants, developers and consumers worldwide. In a recent funding round, Visa, American Express and Sequoia Capital have collaborated to invest an undisclosed sum in Stripe, which is now valued at $5 billion.

With the partnership, Stripe will accelerate its international expansion, particularly in emerging markets, accessing Visa’s global footprint through its acquiring and issuing partners. As part of the agreement, the companies will collaborate on issues related to payment security and product information, as well as e-Commerce experiences such as “buy buttons.”


EMV ‘Money Pit’ Set To Cost Retailers $35 Billion

With the Oct. 1, 2015 EMV deadline looming, U.S. retailers of all sizes are scrambling to update their payment processing systems. However, the retailers that don’t have the resources to make the required change are left liable for any future data breaches.

IHL Group released a report, titled: EMV: Retail’s “$35 Billion Money Pit,” indicating that retailers will have difficulty handling the financial consequences of the mandated shift to EMV-enabled cards and systems.


The Top 15 Stories Of 2015 (So Far…)

topstoriesWe’re halfway through 2015 and Retail TouchPoints already has covered a plethora of new industry trends and best practices through our features, special reports, awards programs and proprietary surveys.

While the Apple Watch and Internet of Things (IoT) turned the heads of industry analysts and retail executives in a number of articles, the final top 15 list also includes a variety of topics that are relevant to all retail businesses, such as: Pricing, inventory management, customer service and loyalty programs.

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