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.

Kings Games Gains PayPal As Payment Ally

Small businesses must address a series of challenges to succeed in today’s highly competitive industry. In addition to having a solid product assortment, they also must offer the same excellent browsing and buying experiences across all channels. While there are a variety of new, affordable technologies on the market to help small businesses keep pace with their larger counterparts, these investments can sometimes backfire. Take for example Kings Games, a gaming retailer with one store in Brooklyn, NY, and a growing e-Commerce business. Owner Alex Shvartsman implemented Square to accept mobile payments in store as well as process payments for online orders.

iPayment And VeriFone Create POS Solution For Small Businesses

Electronic payment solution providers VeriFone and iPayment have partnered to release iPayment POS, a tablet POS solution designed specifically for small businesses. The iOS app-based solution combines the VeriFone GlobalBay Merchant offering with iPayment proprietary solutions, providing small business owners with advanced capabilities and business insights to create a superior customer…

Vantiv To Acquire Mercury Payment Systems For $1.65 Billion

Vantiv, Inc., a provider of payment processing services and technology solutions for merchants and financial institutions, is acquiring Mercury Payment Systems, LLC for an $1.65 billion. The transaction is expected to close in Q2 2014. Strategically focused on strengthening its business within the merchant and financial institution markets, Vantiv anticipates that the Mercury acquisition will help expand its business and accelerate overall growth in the payment space.

3 Reasons To Move To Mobile POS: Small Businesses Can Compete In The Mobile Arena

Tech-savvy, empowered consumers have access to more information than ever before. With the simple tap of a smartphone or tablet, shoppers can instantly access a plethora of pricing and product information, empowering them to make the best decisions for their individual wants, needs and preferences. Undoubtedly, consumers are now in the driver’s seat. To capture shopper attention and dollars, retailers must meet and even exceed their expectations by delivering relevant and compelling experiences, especially in the store.

Target Appoints CIO, Boosts Security Measures

Target has appointed Bob DeRodes as its EVP and Chief Information Officer to lead the company’s IT transformation efforts. The mega retailer also announced the addition of security enhancements that will address issues coming to light following its 2013 data breach. As EVP/CIO, DeRodes will assume oversight of the Target…

Retailers And The Commerce Convergence

Will retailers shape (or be shaped) by the future of payments and commerce? This is a critical time for retail. Innovation in a variety of industries and technologies are converging to define the future of commerce. Somewhere at the intersection of retail, payments, financial services, mobility, location services, social media, marketing services, data and analytics is the answer to how consumers will shop and pay in the future.

Mobility And Loyalty: A Perfect Payment Match

Payment security has become a priority investment for many retailers. In light of the looming 2015 EMV deadline, many merchants are implementing EMV capabilities coinciding with POS upgrades or adding peripherals that accept contact and contactless payment. Because EMV implementations can be very costly, some merchants are putting off the investment. But as many as 30% of retailers, are planning to make a POS purchase decision within the next 12 months, according to IHL Group, which could translate to a sharp increase in EMV adoption.

Appeals Court Upholds Debit Card Interchange Fee Limit

The U.S. Court of Appeals upheld the Federal Reserve’s current rules for debit card interchange fees that require banks to charge retailers a limit of 21 cents for every transaction. The ruling overturned an earlier district court decision finalized in July 2013 that ordered the Federal Reserve to lower the fee cap. Retailers pay an interchange fee, also known as a “swipe fee,” to financial institutions whenever they accept debit cards as a payment option. These swipe fees add up over time, costing retailers billions in extra expenses. As a result, most merchants end up raising prices to cancel out swipe fees, which leaves consumers spending more on products they need to purchase. But swipe fees are not listed on card receipts, and consumers are not made aware of the costs. Small businesses tend to be hit hardest by the added cost, as the fixed price takes a bigger chunk out of their budget. The National Retail Federation (NRF) is one of many organizations showing disappointment in the swipe fee limit and is considering appealing the Court’s decision.

Merchant Warehouse Acquires Opticard To Strengthen Loyalty Offering

Merchant Warehouse, a provider of payment technologies, has acquired gift and loyalty company Opticard to offer deeper mobile and digital engagement opportunities to small and mid-sized businesses (SMBs). With a broader suite of gift, loyalty and prepaid programs, Merchant Warehouse will be able to “round out our offering to merchants by giving them more tools to grow and expand their business,” said Chris Wuhrer, SVP Strategic Initiatives and Product Marketing, in an interview with Retail TouchPoints. Customer retention and loyalty have become paramount to retailers, even in the SMB space. The acquisition will enable Merchant Warehouse to offer its SMB customers a cohesive solution that combines payment, gift card and loyalty programs. “Currently, we’re seeing businesses become quite savvy around customer acquisition and retention,” Wuhrer said. “SMBs also understand that combining payments with loyalty and rewards, discount loyalty and punch cards can increase both frequency and spend.”

Jumio Partners Forms Bitcoin Security Network

Credentials management technology company Jumio, Inc. has unveiled the Bitcoin Identity Security Open Network (BISON), which was created to drive greater transaction legitimacy and instill trust between Bitcoin buyers and exchanges and wallets.   Current members of the network include eight Bitcoin exchanges, wallets and ATM providers, including: BitAccess, Bitnet Technologies,…
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