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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.

Walmart Shoppers Will Get Cash Access From PayPal Accounts

  • Published in News Briefs
For the first time, PayPal is letting shoppers get cash from their accounts in a brick-and-mortar store. The payments company will start offering deposit and withdrawal services at Walmart stores. The partnership will allow PayPal users to put cash into or take cash out of either their PayPal accounts or…
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H&M Buys $20 Million Stake In Klarna, Will Integrate Payments Platform

H&M is investing $20 million in Klarna, a Swedish bank and online payment solution provider. The investment equals a stake of less than 1% in the company. With the partnership, H&M will implement Klarna across all channels as a means to further integrate its digital and physical stores, the two companies said in a joint statement. The partnership, which spans 14 European countries including the UK and Sweden in its first phase, will go live in 2019. The deal could expand to the U.S. and Asia at some point, Klarna first told the Financial Times.

Seller Feedback Motivates Bonanza To Bring Stripe Into Payments Ecosystem

While 68% of Millennial consumers bought something via a marketplace in the last year, 51% will still abandon a checkout page if it takes too long, according to a recent Nielsen and Stripe study. Bonanza, an online marketplace where shoppers can buy and sell both regular goods and collectibles ranging from shoes to pet supplies to garden gnomes, sought to eliminate such friction within its checkout process by integrating the Stripe online payments platform. “As mobile shopping is positioned more at the forefront of e-Commerce and web sites go more into the background, buyers need to have a frictionless experience at checkout,” said Mark Dorsey, Co-Founder and VP of Business Development at Bonanza in an interview with Retail TouchPoints. “When you are visiting a site on your mobile phone and you go to checkout, and then you’re prompted to log into a PayPal account or a checkout by Amazon account if you haven’t already done so, it creates an extra step. That could result in a lost cart. It’s little things like that which make a difference.”

Studio Proper Launches Second Generation Of Business Solutions Hardware

Studio Proper, a product design studio, has launched the newest generation of its technology solutions for businesses using Apple iPad devices, including an iPad stand, swivel stand and wall mount. With capabilities ranging from hospitality to retail environments, Proper Business Solutions are designed to accommodate checkout and order processing for restaurants or bars, POS and customer service interactions for retailers and self-service capabilities for enterprises, such as reception desks or conference rooms.

Bread Secures $60 Million To Extend Financing Platform Capabilities

Bread, a marketing technology company that builds customizable financing solutions for retailers and brands, has completed a $60 million round of equity financing. The company, which first closed $126 million of equity and debt financing in August 2017, offers a white label financing platform designed to help retailers reach more consumers seeking to pay in monthly installments. The company will use the capital to extend Bread’s omnichannel capabilities, expand into new verticals and strategic opportunities, and offer more cross-channel marketing strategies designed to help the retailer improve conversions and customer lifetime value (LTV).

Abercrombie & Fitch Integrates Venmo Into Mobile Apps

  • Published in News Briefs
Abercrombie & Fitch (A&F) has adding Venmo to the payment options on both the Abercrombie & Fitch and Hollister iOS and Android apps. The mobile apps have become A&F’s fastest-growing digital market, with the company saying that mobile app customers are visiting the brands twice as often as the average…
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Study: Starbucks Mobile App Usage Exceeds Popular Payment Apps

Just how popular is the Starbucks mobile app? In 2018, 23.4 million people aged 14 and above will use the app to make a POS purchase at least once every six months, according to eMarketer. That’s more than the users of today’s most popular proximity-based mobile payment apps, including: Apple Pay (22 million); Google Pay (11.1 million); and Samsung Pay (9.9 million).

Venmo Debit Card Expands App’s Reach To Brick-And-Mortar Retail

  • Published in News Briefs
Peer-to-peer payment service Venmo has launched a Mastercard debit card, allowing users to pay for items in retail stores without having to transfer funds to their bank accounts. The card rollout follows Venmo’s October 2017 move to allow app payments at more than two million online retailers, according to Reuters. Venmo,…
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Peet’s Coffee Takes The Guesswork Out Of Promotions With New Loyalty Solution

Peet’s Coffee was looking to expand its Peetnik Rewards loyalty program to all 240 stores following a beta test period, but needed a more reliable platform. By partnering with Paytronix, the chain got a more stable platform, along with a bonus: detailed data about program members’ activity, which has translated into valuable marketing insights and measurable benefits. The chain moved its loyalty and stored value program to a SaaS platform from Paytronix. Within six months after a July 2017 chainwide rollout, Peet’s had achieved:

Microsoft Enters Cashier-Less Tech Race: Will Checkout Lanes Become Relics?

The news that technology powerhouse Microsoft is working on cashier-less technology that could help retailers compete with Amazon Go signals a major advance in this area. Still, questions remain about exactly what kind of solution will best solve shoppers’ checkout pain points. While some consumers may welcome a cashier-free environment, others might want more cashiers on duty to provide assistance if needed. Tech-savvy retailers are still trying to figure out the optimal way forward. Kroger has made major investments in its Scan, Bag, Go technology, which allows shoppers to scan products either with a device provided by the store or with their smartphones. The retailer is in the process of expanding the program to 400 stores, and Kroger CIO Chris Hjelm identified the technology as one of his proudest achievements of the past few years.

Too Many Products Crowd Small Screens: ‘Paradox Of Choice’ Frustrates 48% Of Mobile Shoppers

Nearly half (48%) of consumers agree or strongly agree that buying and discovering products directly from brands’ mobile sites is frustrating, according to a survey from Qubit. Instead, consumers are more likely to use their mobile devices for browsing and inspiration (61%) than for purchasing specific items (58%). During 2017, consumers could choose from more than 78 million products across 73 retail web sites in the U.S. and EMEA regions, according to Qubit. This demonstrates a “paradox of choice” for consumers and illustrates the need for retailers to focus on relevancy and discovery now more than ever.

What To Look For In Servers For POS Systems

Hospitality and retail companies face numerous hardware challenges in their highly competitive and ever-changing environments. They need highly-configurable and cost-effective point-of-sale (POS) systems that are secure and reliable. In selecting the right server for their POS system, they should look for platforms with three key characteristics: consistency, long server life and the ability to handle multiple needs simultaneously to drive down costs.

5 Best Payments Solutions For Pop-Up Shops

Who doesn’t love a pop-up shop? The quirky, short-term retail stores are on the upswing as of late, keeping neighborhoods vibrant by temporarily filling vacant spaces and giving brands the chance to show off their goods to the public — even if it’s just for two-day sprints. For customers, pop-up shops deliver an exciting experience and fill them with a sense of urgency to get the latest sales. However, that feeling of excitement could quickly diminish if a they find the shop doesn’t take debit or credit, putting an unexpected hurdle in the way of completing their purchase, and diluting the whole customer experience.
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