The point of sale (POS) and payment solutions market has become more competitive as new vendors enter the fray and merchants have the option of deploying lower-cost, bare-bones solutions. For Independent Software Vendors (ISVs) and solutions providers that want to stand out in an increasingly crowded space, value-added services are quickly becoming a crucial market differentiator.
The retail marketplace is changing rapidly, with consumers purchasing goods online, in the store, via mobile devices, over the phone and even using multiple channels to complete a single purchase. This idea of retailers engaging consumers across physical and online channels is sometimes referred to as omnicommerce.
Ubiquitous mobile technology – from smartphones and tablets to smart watches and other devices – has forever changed the way people interact with each other and their environment. That is abundantly apparent in the retail sector, where consumers are using mobile devices to comparison shop, research purchases, access coupons, make online purchases, and pay for goods in person using mobile payment processing solutions.
The once sluggish area of payments has quickly become anything but in the past few years. In fact, payments have become one of the most dynamic aspects of retailing. Retailers have often incorporated payment changes only as necessary. However, with continuous changes in industry requirements, consumer expectations and consumer access to new payment methods, retailers have had to adjust to become more nimble and flexible.
As merchants are deploying EMV technology, consumers are receiving and beginning to use their EMV cards, and as with any new technology, there is a learning curve. This e-book presents some common hurdles you may encounter and offers tips for how you can help your staff and your customers overcome them.
As a new, lighter POS approach emerges, Point of Sale (POS) solutions no longer have to depend on PCs to operate. Depending on a system’s configuration, the new POS model can leverage thin clients such as tablets and handhelds, giving the cashier the freedom to transact business at the point of decision.
Cash Still Rules. It takes money to make money. This old adage certainly holds true for businesses that process cash transactions. Cash costs U.S. businesses $55 billion yearly. While most of that is due to theft, the figure also includes time spent on processing, counting and transporting bills and coins.
Food safety is an important issue that can make or break your restaurant business. The problems plaguing Chipotle Mexican Grill and its 2,010 locations across the United States underscore just how critical responsible food handling and carefully constructed supply chains are to ensuring that the delicious dishes that define your brand are safe and healthy choices for your customers.
Today, electronic payments represent a significant percentage of transactions for even the smallest retail and restaurant operations. The U.S payment industry is undergoing one of the biggest changes in the past 40 years: EMV, a set of global standards for electronic payments, including specifications for point of sale hardware, software, and systems, as well as the payment cards themselves.
As mobile payments go mainstream, ISVs have a unique opportunity to capitalize — provided they can assure the security of the mobile payments infrastructure. Understanding the use cases for mobile payments before building the secure mechanics that drive them is the key to cashing in on mobile payments mayhem.