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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.

Study: Mobile Empowers Retailers To Catch Shoppers At The Point Of Intent

Brick-and-mortar retailers once feared that mobile would eat into store sales, either via “showrooming” or simply by siphoning off shoppers. But now, omnichannel retailers are discovering that they can leverage mobile to bring what had previously been online-only tools into the physical store. These tools allow retailers to deliver targeted promotions and personalization when it matters most: the moment of purchase intent. Nearly half (47%) of retail executives say their mobile strategy is to increase shopping basket size both in-store and online by catching customers at the point of intent, according to the 2018 Retail Mobility Insights report by Oracle. “If you think about the experience that consumers are looking to have, the reality is most of them are shopping with a smartphone,” said Jeff Warren, VP of Solutions and Strategy at Oracle Retail. “A number of different retailers are seeing that they have to provide a more compelling experience in-store. There’s an opportunity to blend physical and digital, and they can use the advantage that the consumer is actually carrying around a computer with them as a way to engage.”

CVS Rolls Out Apple Pay Acceptance Chainwide

  • Published in News Briefs
CVS, which once went so far as to deactivate the NFC terminals in its stores in order to thwart customers’ use of mobile wallets, now accepts Apple Pay chainwide. CVS customers with compatible iPhones and Apple Watches can use Apple Pay throughout the 9,800-store chain. In August 2018, Apple CEO…
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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).

From The Back Of The House To The Front: The Benefits Of A Single Enterprise-Grade Device For Retail Operations

From the need to adopt chip-and-PIN technology to the surge of competition from e-Commerce, the retail space has experienced many challenges and changes that have left businesses searching for a way to keep up with the pace. One of the most impactful changes to date is the rise of mobile technology throughout retail organizations. Retailers know that arming their employees with mobile devices will allow them to stay connected, better leverage data and provide a better experience to customers. Due to the nature of the retail environment, some retailers have opted to adopt a consumer-grade device in the front of the house and a separate, more rugged device for backend operations like warehousing. On the surface, this approach makes sense — most employees are comfortable with consumer devices and the price tag on the front end is more appealing. However, managing the deployment of two devices comes with a fair share of challenges. Managing multiple device types adds complexity in terms of support, management and training. Not to mention, a retail environment can be just as rough as field use with a high risk of drops and employees that are a bit aggressive with their devices. A consumer-grade device isn’t…

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:
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