Mobile Point of Sale: A Rapidly Evolving Marketplace

Jim Fink

July 9, 2013

Explosive consumer usage of mobile technologies and credit cards combined with new merchant opportunities around wireless processing and mobile marketing have opened the door for many retailers to enhance their consumer interaction using advanced strategies to accept and process payments, deliver electronic sales receipts, and allow customers to purchase products immediately without waiting in line at traditional front-of-store checkout terminals. Extending the point-of-sale (POS) to mobile locations through the store, or mobile POS, is becoming increasingly common at major retailers as well as small and mid-sized brick and mortar merchants. Flexibility and New Opportunities Mobile POS systems allow retailers to boost sales and enhance customer engagement by accelerating checkout...

Preparing for the New World of Payments

Jim Fink

June 11, 2013

Over the past 20 years U.S. merchants shifted away from checks and started accepting credit cards. Most merchants still rely on electronic cash registers (ECRs) or desktop computers as their point-of-sale (POS) terminal, but mobile technologies continue to evolve and gain traction. We are already witnessing the impact of mobile technologies with mobile payment and commerce applications, tablet based POS, mobilePOS and self-checkout, creating challenges and opportunities for business owners. Mobile payment applications - often referred to as a mobile or digital wallet - allow consumers to make payments for products or services from their smartphone, without a physical card. Typically the digital wallet is connected to an existing credit card or bank account, but instead of swiping a...

What’s Hot in Payments for VARs?

Jim Fink

April 3, 2013

There’s no denying that new technologies are driving vast change in both the point-of-sale (POS) and payments industries, creating confusion as well as opportunity for value added resellers (VARs). On the POS front, we continue to hear about two major trends in our conversations and discussions with both POS partners and their VAR resellers – tablet based POS and future-proof payment solutions. As of December 2012, there were over 52.4 million tablet owners in the U.S. alone. And, while much has been written about consumer use of tablets, this growing segment of ‘portable computers’ is also driving change in traditional POS. Innovative developers have turned these smart devices (phones and tablets) into powerful POS systems that offer much, if not all, of the features traditionally...

Mobile POS – the Future of the In-Store Experience

Jim Fink

March 6, 2013

Mobile is changing shopping behaviors for customers and retailers. New technologies continue to fuel increased customer expectations in terms of convenience, value and speed. At the same time, retailers work to meet growing demands with enhanced in-store experiences, adoption and execution of new payment solutions and improved customer engagement. As consumers, we’ve been conditioned for over a century to the typical in-store retail buying experience: 1) Enter Store, 2) Find Merchandise to Purchase, 3) Wait in Line for Cashier, and 4) Pay for Goods. But, technology and expectations are pushing the envelope, making many retailers question their legacy practices and look to alternative payment solutions. In what I often refer to as a ‘live to work’ society, time is scarce. And, with...

2013 International Franchise Association Convention Recap

Jim Fink

March 4, 2013

Traveling to numerous events throughout the year, demonstrating our latest payment innovation, Genius™, and speaking with industry professionals about new technologies, payment acceptance and mobile commerce, it’s always interesting to explore and learn within a specific vertical.  Last week, Merchant Warehouse exhibited for the first time at the International Franchise Association (IFA) annual convention. Held in Las Vegas, the event attracts a wide array of franchisors, franchisees and consultants as well as exhibitors providing everything from shipping to signs to online training to accounting software. Headlined by a wonderful keynote from former Secretary of State, Condoleezza Rice, the event featured educational sessions and roundtables covering everything from private equity...

Choosing the Right Payments Partner

Jim Fink

February 11, 2013

Today, more so then ever, value-added resellers and independent software vendors need to align themselves with a trusted payments partner. Much has been made about the emerging payments taking over the industry with mobile, contactless and chip-and-pin all figuring to be part of the payments equation. Customers will be using mCommerce solutions, merchants will need to accept these payments and VARs will have to provide merchants with competitive solutions. This shift in customer engagement has also led to a myriad of mobile wallets, gift, loyalty and couponing applications causing even more confusion. In today's competitive environment your payments partner must deliver more value than being a conduit to move money for your clients. If that is your provider’s primary value proposition it...