Retail Payments: Where are we heading? with RSPA President and CEO Joe Finizio

Merchant Warehouse |

February 26, 2013

Retail Payments

RSPA President and CEO Joe Finizio talks with Merchant Warehouse at the recent National Retail Federation's Retail Big Show on the future of EMV and Mobile Payments, as well as his predictions for the retail industry in 2013.

Where do you see EMV in terms of adoption and merchant acceptance in 2013?

Joseph Finizio, President and CEO Retail Solutions Providers Association (RSPA)

Well, I think from a merchant's standpoint, they will all take it on because there are going to be incentives to do that from a security standpoint to some standpoint for fraud. Then also, the card brands are pushing it, and the processors will be pushing it as well because there are incentives for them.

What are your predictions in terms of mobile wallet adoption? Do you foresee a clear-cut leader?

With respect to mobile wallets, there is no clear-cut leader right now. In fact, as you probably know, there are over a hundred mobile wallets out there. I think until somebody comes out and really has a killer app to draw the consumer to it, you won't see a clear-cut leader. In fact, it's got to be tied into merchandising. That's the secret sauce right now, and there's just nothing out there that sets themself apart from anybody else.

In retail, what is your one bold prediction for the near-term future?

Actually it's empowerment. That's if you put it in one word. There's a new platform coming into place. It's mobile, whether it's a tablet, traditional handheld device, or bring your own device, whether it's iOS, Android, or maybe Windows 8. What that's doing is empowering the consumer, or the shopper. It's empowering the associate. It's empowering the store. It's empowering everybody with omni-channel, access to information, and also information on the store floor so they can make the sale and make it a better shopping experience. What that does for our marketplace and for our industry, it gives all kinds of new opportunities. People should not run from mobile. They should not run from tablets. They should embrace it.