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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.

American Express Drops POS Signature Requirement Worldwide

  • Published in News Briefs
Beginning in April 2018, consumers using American Express cards at any point of sale around the world will no longer need to provide their John (or Jane) Hancocks. American Express already had eased signature requirements for purchases that were less than specified dollar amounts in the U.S., Canada and the…
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Build.com Introduces Private Label Financing: Sees Ticket Sizes Triple In First Week

When Build.com introduced a private label financing program in November 2017, the retailer sought to entice its shoppers to spend more with a set of new credit card payment options. The new choices impressed shoppers: in the program’s first week, Build.com saw ticket sizes triple versus purchases made with typical credit card payments. Additionally, by offering customers what’s essentially an open line of credit, the online home improvement retailer is anticipating longer-term benefits: increased repeat purchases.

Target Adds Payment Functionality To Mobile App

  • Published in News Briefs
Following the lead of Walmart, Kohl’s, CVS and Starbucks, Target has incorporated a payment option into its mobile app. Customers can tie the new Wallet feature, introduced on Dec. 4, to their private label Target REDcard account. Wallet also ties in digital coupons and weekly ad offers along with the…
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J.P Morgan Chase Acquires WePay In $400M Deal

  • Published in News Briefs
J.P. Morgan Chase has finalized its acquisition of WePay, a deal that was first announced in October 2017. The purchase is said to be valued at up to $400 million, which also includes “retention bonuses and earn-outs subject to hitting certain targets in the coming quarters,” according to TechCrunch.
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MiaDonna Lifts AOV 36%, Repeat Purchases 17% With Financing Option

With a young, tech-savvy consumer base, MiaDonna, an online jewelry retailer specializing in ethically sourced lab-grown diamonds, wanted to be up-to-the-minute with its payment options as well. The retailer selected financing company Affirm, enabling shoppers to pay in three-, six- and 12-month increments. MiaDonna, which now makes approximately 20% of its sales through Affirm, noted that shoppers using the service are both spending more and coming back. Affirm users make 17% more repeat purchases, with average order values (AOV) that are 36% higher compared to non-users.

Milano Diamond Gallery Selects Cegid Retail Solution

  • Published in News Briefs
Milano Diamond Gallery which operates 43 stores in 13 countries and an e-Commerce site, will deploy the Yourcegid Retail Y2 solution from Cegid. Yourcegid Retail provides POS and CRM systems and manages omnichannel commerce, in-store operations, workforce management, country compliance, merchandise and inventory, and finance.
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Golf Club ‘Trade-In’ Program Lifts Conversions 30% At TaylorMade

Ideally, golfers would always like to play with the newest clubs available, since technology and design innovations can provide that little bit of extra “oomph” that improves a golfer’s game. By implementing a subscription-based upgrade program that helps customers finance their purchases of new clubs, TaylorMade Golf boosted conversion rates 30% over a six-month period and increased average order value (AOV) by 5%. The program, named “The Turn,” after the turn for home that occurs after the ninth hole, gives TaylorMade customers an 18- to 30-month financing option for drivers and irons. After 12 months, golfers can trade in their driver for a newer model; payments on the old club stop and those on the new club begin. For irons, which typically have a longer lifecycle, the trade-in option kicks in after 24 months.

Is Facebook Moving Into Peer-To-Peer Payments?

  • Published in News Briefs
Facebook may be taking notes from China’s messaging platform WeChat, which offers peer-to-peer (P2P) payment capabilities within its platform. Matt Navarra, Director of Social Media at the online publication The Next Web, shared some screenshots on his Twitter account that revealed the social media platform is testing a ‘Red Envelope’…
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German Alipay Partner Expands To Four More Countries

  • Published in News Briefs
One year after launching the Alipay service in Germany and Austria, Concardis has expanded its partnership with China’s largest mobile payment network  into Switzerland, Belgium, the Netherlands and Luxembourg. Alipay has become an important option at retail locations frequented by Chinese tourists. They do not have to convert their Chinese…
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7-Eleven Adds Amazon Cash Option At Nearly 8,000 Stores

  • Published in News Briefs
Consumers who want to add funds to their Amazon.com balance now have nearly 8,000 new locations where they can do so. 7-Eleven has joined CVS, Speedway and GameStop in accepting Amazon Cash. The Amazon Cash service, which launched in April 2017, is designed to serve underbanked and un-banked U.S. customers.…
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Payment Authentication And IoT Devices: Do Merchants Need To Prepare For Fraud Through Refrigerators?

Perhaps the greatest revolution in shopping was the rise of e-Commerce. No longer were people required to physically go to stores to purchase goods; they could do so from the comforts of their own home on their computer. Today, we are experiencing a new shift in shopping and purchasing behaviors, and this time, shopping is leaving the computer and headed towards our appliances. The rise of the smart home is here. And, while we still may be some years away from a mass-market refrigerator that refills itself through digital ordering, we’ve begun to see the beginnings with tools introduced by e-Commerce retail giants, such as smart speakers accompanied by virtual personal assistants. This impending networking of the home poses an interesting, if odd, question: can we trust our household appliances?

ENS Unveils Verge 355z MPOS Platform

ENS, a provider of technology mounting platforms, has released Verge 355z, an mPOS solution that pairs the Verifone e355 and Zebra TC51/56 handheld touch computers into one device. The Verge 355z case is small and compact, creating a comfortable handheld mobility solution for retailers. The case is designed to fit both devices, allowing full access to the features on both. In addition to the case that holds the two devices together, Verge 355z has an optional charging adapter that fits over the Zebra charging station. This enables both devices to charge while docked on the Zebra charger.  The quick release function allows retailers to easily remove the Zebra TC51/56 device from the ENS case and use the device independent of the Verifone e355 payment device. The Verge 355z design lets the devices maintain Bluetooth connectivity with one another. Payment transactions are processed via WiFi connections.

75% Of U.S. Shoppers Say Identity Theft Is A Major Holiday Concern

Identity theft during the holiday season worries three quarters of consumers, according to a survey conducted by Generali Global Assistance. An even higher percentage, 84%, say a past data breach would affect their willingness to do business with a retailer. As many as 57% of shoppers believe a data breach of an online merchant will pose the greatest identity theft threat this holiday season, while 22% consider a data breach of a brick-and-mortar POS system to be the most acute risk.

Direct-To-Consumer Focus Motivates IT Upgrade At Tommy Bahama

Strategy sessions held back in 2015 had far-reaching impacts for Tommy Bahama. These meetings were the beginning of what has grown into an ambitious program for upgrading many of the apparel brand’s key business solutions, including order management, warehouse management, retail store operations, analytics, merchandising and its entire e-Commerce ecosystem. The 160-store retailer has a thriving e-Commerce business and also operates restaurants in 18 locations. The IT upgrades, scheduled to take place through summer 2019, will bring an enterprise-wide view in two important strategic areas: order management and analytics. Tommy Bahama anticipates significant benefits, according to Lisa Atwood, EVP of Operations, IT and eCommerce.
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