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.

Exclusive Q&A With Mastercard Exec: Expanding Payment To Wearables, VR And Smart Home Devices

Payments are the unglamorous but absolutely necessary piece of any consumer purchase. As retail touch points have multiplied and become more technologically complex, encompassing mobile devices, wearables, and now voice, AR and VR applications, payment providers have had to keep pace. One indication of the breadth of this challenge is in Kiki Del Valle’s title: she is SVP of Commerce for Every Device at Mastercard. Del Valle, who will be presenting the session, titled Transforming How People Pay: Commerce For Every Device at next week’s Retail Innovation Conference, April 30-May 2 in New York City, revealed why payment providers need to balance innovation, consumer convenience and data security within a rapidly shifting customer journey.

Meet 2018 Goals By Making Payment Solutions Your Next Loyalty Campaign

Returning customers drive more than 22% of retailer revenue and spend 15% more than new customers on any given order, according to a study by StitchLabs. Given this obvious financial incentive, not to mention the high cost of attracting and activating new customers, investment in programs that drive loyalty and customer retention is essential. Today’s tech landscape and proliferation of e-Commerce offers more opportunity than ever for retailers of all sizes to leverage cost-effective retention strategies at one key element of their operations: the POS. “We believe customers are first and foremost loyal to the solutions that solve their problems and we are passionate about that,” said Patrick Gauthier, VP of Amazon Pay. “Today over 50% of Amazon Pay buyers are Amazon Prime customers, demonstrating the benefit of providing familiar, trusted payment methods wherever they shop.”

Teahouse Brews Up Growth With Streamlined Management And Loyalty Solution

The Teahouse, a chain of traditional Taiwanese cream teahouses in the Houston area, faced a problem familiar to many growing retailers. Keeping tabs on multiple locations that differed slightly from each other in menu setup, layout and prices was becoming an operational challenge. Additionally, Teahouse wanted a more organized way of managing its Teahouse Rewards loyalty program, which offers customers a free drink for every $40 they spend. The retailer, which currently operates 10 locations, deployed a POS and store management solution from Revel Systems in late 2015, and then added the Spendgo customer engagement solution in January 2017. The combination has provided Teahouse with multiple benefits, including:

Thando’s Footwear Boosts Site Traffic With Secure, Streamlined Payments

As a company that sources its designs from local African designers, it was critical for Thando’s to develop more than just an e-Commerce destination for footwear. For Co-Founders Taffi Ayodele and her husband Jibolu ‘J.G.’ Ayodele, giving back to the community that inspired the Thando’s collection of foldable flats for women was just as important as scaling the brand.

Walmart Replaces Alipay With WeChat In Western China Stores

  • Published in News Briefs
Walmart is parting ways with Alipay in all its stores in the western region of China, installing WeChat Pay, the popular digital payments app powered by Tencent.The move would be a blow for Alibaba, which is aggressivelyexpanding the Alipay platform outside China. In total, the Chinese mobile payments market has reached…

Affirm Debuts Brick-And-Mortar Financing Option, Integrates With Apple Pay

  • Published in News Briefs
Affirm, a startup that offers instant loans for online purchases, is expanding its financing services to brick-and-mortar retail. Shoppers can use Affirm InStore in physical locations, secure credit approval and pay for their purchase in fixed monthly installments. Additionally, the company revealed that consumers can instantly add a newly issued Affirm virtual…

Is Cash Dead? An International View

It’s widely believed that the ancient Greeks invented money as we know it. On the contrary, however, the first coins to ever appear came from a coastal kingdom on the Aegean Sea in ancient Turkey, about 2,700 years ago. The amount that each coin was worth was embossed on gold or silver flat coins. They were used to trade with visiting merchants from overseas. That’s a far cry from the “international payments” scene today. Nevertheless, it would be fair to say that for thousands of years, not much really changed with money. Cash was king. Even as credit card payments really took off during the 1980s, they were initially mostly for domestic, not international, use.

92% Of Brands Say They Can Make Better Use Of Retail POS Data

The vast majority (92%) of brand manufacturers now believe they can do more with the POS data they collect. This figure represents a remarkable 15 percentage point jump from the 77% who shared this belief in 2017, according to a report from Askuity. This dramatic upsurge in how much brands value POS data is a good sign for the retailer-brand relationship, as almost all brands now acknowledge that POS data can positively impact their own bottom line.

Tencent, Buy Stakes In Chinese Retailer Better Life

  • Published in News Briefs
Like players snatching up properties in the early rounds of a Monopoly game, Chinese e-Commerce giants Alibaba and have both been busily adding physical retailers to their portfolios. Alibaba went on a $1.3 billion buying spree prior to the lunar New Year on Feb. 16, 2018, buying a stake…

Cashierless Retail: Great In Theory, But Still Shaky In Practice

The Amazon Go convenience store opening in January 2018 shed light on the next new shiny concept in retail — cashierless, checkout-free stores. While Amazon is the biggest player making this push, technology providers such as Standard Cognition and AiFi are building out their own AI-based checkout-free solutions, creating the potential for competition in the space. But all this news makes me wonder: Just how feasible is any of this technology at scale? Even in the case of Amazon Go, the e-Commerce giant used the Seattle location as a testing ground for more than a year before opening to the public. This means that Amazon went through a year’s worth of data, shopper patterns and trials to get its “Just Walk Out” technology right. While Amazon’s plan appears to be to build as many as six new stores this year, no plans have been announced about including the technology in Whole Foods stores. That seems to indicate that workable deployments in spaces larger than the 1,800-square-foot spot in Seattle are still far in the future.

E-Commerce Chargeback Costs Reach $40 Billion Per Year

Chargebacks, chargeback fraud and expenses related to managing them cost e-Commerce merchants $40 billion per year, according to Chargebacks 911. Retailers are fighting back, but their success rates vary widely by vertical. The State of Chargebacks: 2018 Report, sponsored by Kount and Chargebacks911, showed that 82% of organizations doing business within the card-not-present (CNP) payment space dispute chargebacks. Overall, when companies dispute chargebacks their win rates are discouraging. Almost half (45%) reported that they were able to reverse chargebacks less than 45% of the time, and only 32% were successful more than 45% of the time (24% of respondents did not know their win rate).

NMI Acquires Creditcall To Create Omnichannel Payment Platform

NMI, which specializes in card-not-present (CNP) payments, will acquire NMI, adding EMV and card-present expertise to the combined companies’ portfolio. NMI provides payment enablement technology to Independent Sales Organizations (ISOs), ISVs, VARs and payment facilitators. The acquisition brings together NMI’s nearly two decades of e-Commerce and m-Commerce experience with Creditcall’s support for EMV chip card, swipe and contactless enabled payment devices. The combined company accounts for more than $45 billion in annual payment volume, more than 165 processor integrations and 100+ device certifications worldwide.

Fraud Blacklists: What They Are, And Why You Shouldn’t Rely On Them

By necessity, all e-Commerce companies are constantly on guard against card not present (CNP) fraud. Aside from the financial losses incurred from the refunded amounts, chargeback fees, and merchandise replacement costs, there is also the looming threat of losing the ability to do business — payment processors will stop working with a merchant if the chargeback rate exceeds a certain threshold.  Those on the front lines of this ongoing war against fraudsters are the analysts tasked with screening out the fraudulent transactions. They have to satisfy conflicting requirements: brief turnaround time for order accept/decline decisions, minimizing chargeback losses, and keeping the total cost of fraud prevention low. These fraud management teams are the Rodney Dangerfields of e-Commerce, since they usually don't get much respect from senior management, who often view their department as a cost center rather than a revenue protector.  It's no surprise that merchants are quick to adopt and hesitant to abandon tools that are simple, quick, cheap, and seem to do a good job of rejecting fraudulent orders while accepting the legitimate ones. This is how we ended up with e-Commerce fraud prevention tools like blacklists.  Blacklist Basics Here's how blacklists work: When merchants approve an order…
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