The Future is Customer Engagement

Henry Helgeson |

June 12, 2012

Genius Customer Engagement Platform

This is a very exciting time in the industry. There is an onslaught of new entries to the marketplace and, while emerging payment types including mobile wallets, NFC, EMV, and QR codes have not reached mass adoption, there is a major paradigm shift on the horizon. In fact, Gartner predicts that, “Worldwide mobile payment is expected to have 448 million users and $617 billion in transaction value by 2016.” In North America alone, Gartner is predicting mobile payment user growth of 177 percent from 32.7 million users in 2012 to over 90 million in 2016. *  

We are also witnessing a sea of change in customer expectations in terms of value, mobility, choice and personalized offers. Customers today are seeking out merchants who offer including loyalty rewards, personalized discounts and other value-add benefits. In response merchants of all shapes and sizes are searching for solutions that support customer needs and wants and drive increment value for their business. With the convergence of new payment types and customer demand for enhanced engagement offers the focus is on customer engagement.

One major challenge for merchants is that the majority of the new payment types and value-added products are available as stand-alone only options or bundled in a ‘walled garden’ within a specific product suite. Our vision, with the release of Genius™, the industry’s first, Customer Engagement Platform™, is to provide merchants with a single point of entry into the mobile space. Genius is the first industry solution that has the power to aggregate and integrate any payment type or customer program – both present and future – into a single platform.

Through Genius, merchants connect their customer engagement device (CED) through a POS system or a Genius enabled terminal. Once connected, the choice is theirs as to which offerings they offer and leverage to attract new customers, retain existing ones and drive incremental revenues. 

Payment transactions are the past. Today’s solutions are built to support the merchant customer experience. 

*Gartner, Inc., Forecast: Mobile Payment, Worldwide, 2009-2016, Sandy Shen, May 9, 2012. 

 

Video Transcription

Shannon Andrade, Director of Training and Education

Talking about the Merchant Warehouse vision a little bit, what is Merchant Warehouse changing regarding payment solutions and why?

Henry Helgeson, Co-founder & Co-CEO

Well, first of all I think just saying payments is an old way of thinking. This is really customer engagement. How does the merchant engage with their customers in new ways and interact with them and bring them into their store to buy and actually have actionable data and offers that get the job done and increase sales?

The payment is just one piece of what we're doing with the Genius Customer Engagement Platform. We're doing a lot more. We're allowing the merchants to connect with their consumers in new ways that nobody's ever done before.

Shannon Andrade, Director of Training and Education

What is the Genius Customer Engagement Platform?

Henry Helgeson, Co-founder & Co-CEO

The Genius Customer Engagement Platform is a solution that allows merchants to connect to us using either a point of sale or a standalone credit card terminal, and we connect out to the mobile environment and connect them to all sorts of loyalty players, payment players, wallet providers, potentially couponing firms. It allows them a single point of entry into this mobile space to manage all of their payment types in addition to the loyalty coupons, offers, and discounts that they'll be able to put out through the platform itself.

On their countertop will be a customer engagement device that will connect into either their point of sale system or their credit card terminal and allow the consumer to pick how they want to pay. Whether that be NFC, EMB, traditional magstripe, QR codes, any of these options are available through the customer engagement device that we'll be deploying out in the field.