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.

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…

Payment Providers Partner To Offer Point-To-Point Encryption

  • Published in News Briefs
Payment security provider Bluefin Payment Systems has partnered with payment platforms Datacap Systems and Monetary LLC to offer a PCI-validated Point-to-Point Encryption (P2PE) solution to merchants. Benefits of a PCI-validated P2PE solution include reduced PCI compliance and scope; time and money savings on annual audits; and assurance that the technology…

Kroger CIO Q&A: Innovation Initiatives Leverage IoT, Mobile Scanning And Shelf-Edge Videos

Long gone are the days when supermarkets were the most risk-averse, tech-unfriendly retailers on the block. In fact, the nation’s largest supermarket chain, Kroger, displays a commitment to data, innovation and tech savvy that other retailers should envy. The leadership of Chris Hjelm, who has been EVP and CIO at Kroger since 2005, is one reason Kroger has been able to keep up with the times. “I came from a background of high-tech at companies including Orbitz, eBay and FedEx,” said Hjelm in an exclusive interview with Retail TouchPoints. “I created a research and development team shortly after I got here, and that’s been a huge contributor to innovation — and it’s a unique capability compared to many of our competitors.”

EBay Downplays PayPal; Brings In Adyen To Manage Payments

  • Published in News Briefs
In a move that will displace its former subsidiary PayPal, eBay is moving to manage the payments flow on its Marketplace platform internally. The e-Commerce retailer has signed an agreement with Adyen to become its primary payment processing partner, after eBay’s current agreement with PayPal expires in mid-2020. While PayPal…

Zumigo Expands Assure Suite With Identity Verification Capabilities

Zumigo has expanded its Assure suite of mobile device location and identity verification products to offer services designed to mitigate credit card fraud when card numbers get into the wrong hands.  The cloud-based service integrates with banks’ and merchants’ processing systems to verify the identity and location of a user’s mobile device along with credit card ownership to prevent fraudulent transactions. Discrepancies are flagged as possible fraud, and can save merchants and banks expenses ranging from fraudulent purchases and chargebacks to reissuing credit cards.
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