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.

Apple Pay Launches October 20

  • Published in News Briefs
Users of Apple’s latest mobile devices can start loading credit cards and make payments on Monday, October 20 when iOS 8.1 is pushed for release. Apple Pay allows shoppers to pay for items using their iPhone 6 and iPhone 6 plus devices in participating stores and within apps. The newly…

What’s Next In Retail Payment

The race to replace cash has spawned a crowded landscape of innovative payments technologies, from wearable devices to chip-enabled cards. But while some seem better suited to a sci-fi flick than a retail store, others are fast gaining a foothold in the mainstream market. In fact, from 2012 to 2013, the volume of traditional cash transactions dropped by 10%, a total of $86 billion, and is forecasted to plummet further over the next six years, according to a 2014 report by Javelin Strategy & Research. Among the most recent cash-replacement contenders is Apple Pay. With an expected launch date in October 2014, Apple Pay is a mobile payments system that works with iPhone 6 and iPhone 6 Plus. Featuring a built-in Near Field Communication (NFC) antennae, device owners simply tap their iPhone on a store’s contactless credit card terminal to make a payment. Actual card numbers are not stored on the device or on Apple servers; and Apple’s Touch ID sensor technology — which uses a customer’s fingerprint as a passcode — helps to prevent fraud.

Caterpillar Vapes Taps Zing To Integrate In-Store POS And The E-Commerce Site

As a brand expands, its IT infrastructure can become more complex. However, in today’s omnichannel world, it is imperative that retailers of all sizes have a comprehensive view of sales and inventory. To create this more 360-view of the business as it expanded from e-Commerce to brick-and-mortar, e-cigarette products retailer Caterpillar Vapes integrated APIs from POS platform provider Zing into its e-Commerce platform powered by Bigcommerce. With the Zing APIs, the retailer manages its inventory, e-Commerce and POS functions in one central location.

Affirm Split Pay Allows Online Shoppers To Pay In Monthly Installments

Shoppers may be hesitant to purchase an expensive item online due to fear of debt and hidden fees and taxes that may result from the transaction. A new solution from Affirm, called Split Pay, allows consumers to split their online purchases into smaller monthly payments to mitigate the impact of a large transaction. Retailers can offer Split Pay as a payment option on their e-Commerce site.

Is That A Cash Register In Your Pocket?

It's hard out there for a credit card company nowadays — everybody's getting in your business. In a moment when new technology is disruptively looking to squeeze extra efficiency out of everything, from the empty seats in our cars (Uber) to the unoccupied rooms in our homes (Airbnb), the 2% to 3% interchange fees that banks and credit card companies charge on every transaction make for a fat, juicy target. Apple’s NFC-enabled iPhone 6 comes equipped with Apple Pay, the company’s highly touted mobile payment technology. Apple Pay stores users’ payment card information, allowing in-store payments with one-touch checkout when a shopper holds their phones up to a reader. This comes with the added security of never exposing the user’s credit card number to the light of day, allowing the expected reduction in fraud expenses to justify the costs of rolling out the new system. Apple boasts participation from 220,000 stores as well as the major credit card companies and banks, showing that they will work within the existing credit card-based ecosystem familiar to users (at least for the time being).

LightSpeed Receives $35 Million To Expand Product Line

LightSpeed, a provider of cloud-based commerce solutions, has closed $35 Million in new funding led by iNovia Capital and Accel Partners. This is the second round of funding for LightSpeed, bringing the company’s total capital raised to $65 million. LightSpeed will use the money to help accelerate the development and release of new solutions.  “LightSpeed is deeply ingrained in the challenges and needs of today’s retailer,” said Chris Arsenault, Managing Partner at iNovia Capital. “They’ve figured out how to make big box retail tools easy and accessible to independent retailers to help them thrive in a highly competitive market. We are thrilled to be their partner in this journey.”

A Vote For Apple Pay: How It Will Impact Retail Loyalty Marketing

Apple made a big splash on September 9 announcing Apple Pay — finally enabling consumers to make purchases with their iPhones at participating retailers. With such a dramatic entry and a new, imposing entrant into mobile payments, retail loyalty marketers need to grasp the ramifications of how purchasing and retention marketing will evolve.

The Move Toward Mobile POS

For retailers looking to foster customer loyalty and enhance in-store service, mobile POS is becoming an increasingly attractive complement to more traditional devices. In fact, according to an IHL Group study, Mobile POS: Hype To Reality, mobile POS will cannibalize 12.4% of traditional POS shipments in North America by 2016. And a report by Infogroup indicates that the number of retailers using mobile POS systems will triple by 2018. Driving this movement toward mobile POS is the sheer number of smartphone-wielding shoppers — a whopping 58% of Americans, according to Internet analytics firm comScore. Hoping to tap into this burgeoning demographic, retailers are reaching for a widening array of mobile POS tools, aiming to strike a better balance between traditional tools and more innovative POS devices.

Apple Spotlights Payment Security In iPhone 6 Release

Throughout the summer, industry experts speculated that Apple would include an NFC chip in the next iteration of the iPhone. At its Sept. 9 event in Cupertino, Calif., the company went a step further and announced Apple Pay — a payments service the company is touting as “an easy, secure and private way to pay.” The iPhone 6 and iPhone 6 Plus phones, as rumored, contain an NFC chip, but the devices also include a dedicated chip called the Secure Element that features Touch ID convenience. Apple Pay launches in October as part of the iOS 8 update scheduled for that month. Apple Pay will work in stores with iPhone 6, iPhone 6 Plus and Apple Watch. The service works through iTunes and supports credit and debit cards from American Express, MasterCard and Visa. To start using Apple Pay, users can add the credit or debit card number already on file with their existing iTunes account.

Auchan Group Selects ACI Worldwide To Provide Centralized Payments Platform

  • Published in News Briefs
Auchan Group, an international retail group of supermarkets based in France, has selected electronic payment solutions provider ACI Worldwide to deliver the Single Euro Payments Area (SEPA)-compliant European card payments platform. Auchan Group will implement the Postilion solution as the foundation for a centralized card platform that manages electronic transactions…

90% Of U.S. Shoppers Received A Gift Card Over The Past Year

Up to 77% of U.S. consumers have given a friend or family member a gift card in the past year, while even more consumers (90%) have received one or some gift cards over the same period of time, according to the Retail Gift Card Association. In the spring of 2014, the Retail Gift Card Association surveyed more than 1,100 U.S. consumers on their use of gift cards, their preferences for giving and spending the cards, and their overall willingness to embrace new gifting options.

5 Obstacles To International Commerce

Cross-border online sales are notorious for giving merchant headaches. After dominating one market, merchants try selling in other countries, and then they get blindsided by shipping issues, tax complications, payment failures and other problems I will discuss in a moment. It shouldn’t be this way. In an era when we can video chat with a person 10,000 miles away, it’s absurd that selling something to that same person is so complex. Consider that only 27% of U.S. e-Commerce merchants are set up to sell internationally, according to the MCM Outlook 2014 Survey from Multichannel Merchant. An even smaller percentage of that 27% will get cross-border selling right because all international merchants have to overcome five obstacles:

Collaboration Becomes Key To Success For Retailers And Suppliers

In the age of the omnichannel consumer, retailers need to ensure products are available at the right time, through the right channel and at the right price. While it seems collaboration between retailers, suppliers and manufacturers has existed for as long as the industry itself has existed, it has become more pivotal to success as consumers grow more demanding.

EMV: The Moving Target

EMV has been implemented around the globe, but the US is lagging behind. Fear of high costs, uncertainty about chip specifications and cardholder verification methods, and intimidating regulatory requirements have all meant that many organizations have been slow to take on the challenge of implementing EMV, even though new regulations say they must, and the National Retail Federation says it is the only secure standard. The cost of the transition to EMV is estimated to be $8 billion, and that number, while staggering, is causing some retailers to stop dead in their tracks when it comes to implementation. The reality is this: major retailers are installing EMV-enabled point of sale equipment now, and in less than two years, 95% of all cards in the US are expected to be EMV-capable. If you are a retailer that offers branded credit or debit cards, you must take action, but you don’t have to take an all or nothing approach. The solution is a timely, four-step approach that will allow you to get an EMV card into the market without getting locked in to one production strategy or breaking the bank.
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