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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.

90% Of Retailers And Financial Institutions Want To Collaborate On Payments

RR ACI ImageNew payment platforms and tools are launching on a consistent basis. In order to drive widespread adoption of new payment options, retailers, financial institutions and payment providers need to converge. Now, up to 90% of financial institutions say they want to work more closely with retailers and billing organizations to reduce payment costs, according to research from ACI Worldwide and Ovum.

The payments industry has a complicated value chain consisting of multiple stakeholders. This chain can become more complex as new payment touch points are thrown into the mix. However, 44% of organizations say they are already taking steps to, or would like to eventually, reduce the number of “fee-collecting” intermediaries in the value chain.

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EMV, Fulfillment Among Major Topics At Celerant Client Conference

When it comes to managing the e-Commerce site, CRM, distribution, the POS or any data security measures, SMBs have more of a hurdle to clear than their larger counterparts. In many cases, these smaller organizations have to enlist an all-in-one solution specifically designed to handle the numerous tasks that bigger companies have the resources to handle separately.

To educate these SMB retail clients on relevant industry topics and update them on the current retail management platforms, Celerant Technology held its 11th Annual Client Conference on April 22 to 24, 2015, in New York City. Recurring topics discussed throughout the event included the shift to EMV-enabled cards, store fulfillment, inventory management and mobile POS.

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Flourish Of Thomasville Prepares For Expansion With Harbortouch POS

Melissa Taylor, Co-Founder of Flourish of Thomasville, started her business because she wanted to make a difference. She refers to her shop as an “encouragement store” — a hub of products that are practical, affordable and encourage people to feel better. 

Based in Thomasville, Ga., Flourish of Thomasville began when Taylor’s friend/Co-Founder Gerriann Kennedy indicated that she wanted to give back to the community. A breast cancer survivor, Kennedy helped develop the foundation for the store concept and its product assortment, which started by providingprosthetics, hats, scarves and wigs.  

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Merchant Customer Exchange Appoints Bank Of America Exec As Interim CEO

MCX head shot
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.

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Verifone Receives NACHA Electronic Payments Award

verifoneNACHA — The Electronic Payments Association, has presented Verifone with the 2015 George Mitchell Payments System Excellence Award. NACHA grants the award annually, honoring an individual or organization that has shown superior leadership in the development, implementation or advancement of domestic or international electronic payments.

Verifone and other recipients of the 2015 Payments System Awards were recognized during the Payments System Awards Luncheon, which was sponsored by TD Bank N.A. at PAYMENTS 2015 in New Orleans. Verifone received the award for its leadership in driving EMV education and readiness.

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PayItSimple Allows Shoppers To Pay For Items Through Monthly Installments

SS PayItSimple ImageConsumers are sometimes deterred from purchasing high-ticket items because they either don’t want to collect credit card debt or don’t have the cash to pay up front.

With PayItSimple, brands and retailers can turn these potentially lost opportunities into sales by providing consumers with alternative payment options. Rather than paying for items up front, consumers can charge their purchases on their credit cards and pay them back in monthly, interest-free installments.

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Kount And Ethoca Collaborate To Tackle E-Commerce Fraud

KountFraud 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.

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CardinalCommerce Extends Bitcoin Acceptance To Retailers With Bitnet Partnership

bitnetMobile payment solution provider CardinalCommerce has partnered with Bitnet to allow its retail clients to accept bitcoin as a payment option.

With the Bitnet integration, CardinalCommerce users will be able to accept payments from dozens of digital wallets and alternative payment brands from around the world — without cross-border fees. Cardinal manages all program updates made by the wallets or payment providers, and keeps tabs on maintenance and version changes.

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Vestique Streamlines Business Expansion With Springboard Retail

SMBs that expand online and to multiple stores sometimes have issues scaling their POS systems, inventory management strategies and overall business reporting to meet and exceed growth objectives.

Experiencing these challenges firsthand, women’s apparel retailer Vestique implemented Springboard Retail as its new POS system and to monitor inventory levels for its e-Commerce site and seven retail locations in North Carolina and South Carolina.

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Your Customers Are Carrying More Than Plastic And Cash In Their Wallets

VP site only NCR head shotWhen 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.

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GameStop Now Accepts Apple Pay

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.”

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Plastic And Digital Gift Card Sales Continue To Rise

RR GiftCards ImageAs many as 81% of U.S. consumers said they planned to purchase the same amount or more plastic gift cards in 2014 compared to 2013, according to a report from First Data. More consumers (84%) planned to purchase the same amount or more e-gift cards, with 33% definitively noting that they would purchase more in 2014.

To conduct the report, titled: The 2014 Prepaid Consumer Insights Story, the company distributed online surveys to more than 3,700 U.S. consumers over 18 years old. More than 2,300 of the respondents said they had purchased or received closed-loop plastic or virtual cards within the past 12 months.

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Hackers Use Apple Pay To Make Purchases With Stolen Data

Cybercriminals are using credit card data stolen during the Home Depot and Target data breaches to make fraudulent purchases via Apple Pay. Approximately 80% of the unauthorized purchases were for high-value items and were purchased using iPhones at Apple stores, according to a source of the Wall Street Journal.

Hackers have not compromised the Apple Pay encryption system. Rather, they are entering stolen credit card data into the mobile payment prompt to make a purchase. The system’s weakness lies in the verification process, which is controlled by the card-issuing banks.

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Pizza Hut Unveils New On-The-Go Ordering Concept

Pizza Hut has partnered with Visa and Accenture to develop a connected car and on-the-go ordering experience.

The connected car will be equipped with cellular connectivity, online payment service Visa Checkout and Bluetooth Low Energy (BLE). Pizza Hut restaurants will also deploy beacon technology to recognize and engage with the connected car as it approaches. Accenture will manage the integration of the technologies.

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