Tag: Merchant

Stay updated with insights on merchants at PaymentsJournal. Explore trends, news, and expert analysis on merchant services, payment processing, and their impact on retail and e-commerce.

Tap-to-Phone Technology Unlocks the Full Potential of Contactless Payments

by Wesley Grant

October 28, 2024

Tap-to-pay transactions have become an integral part of the payments landscape, but they represent only half of the mobile payments ...

The Pandemic pulled forth Omnicommerce faster than Video Killed the Radio Star. It is no longer a two channel system of face-to-face and eCommerce. Omnicommerce expands the channels and experiences to offer on-demand, delivery, curbside pick-up, in-person and mobile. Social media and voice activated devices continue to add dimensions. Businesses must adapt and combine online and offline interactions with a payment system which supports the interactions, inventory and transactions demanded by Omnicommerce. Payments must remain fast, seamless and efficient yet evolve to account for the multitude of entry points. In this way, consumers will be rewarded and continue to engage and adopt new payment methods. The stakes are high, however as the converse is also true. Unified experiences or bust Customers demand a unified experience. They may purchase in one channel but they can and do return through another. POS systems must be able to retrieve card data and perform reference refunds such that the card data is not stored but the reference to the purchase may be pulled and the tokenized card may be credited. This provides for an efficient consumer experience while remaining PCI compliant A friend relayed how easy it was to return a purchase that his wife made on Amazon. He indicated he would return the items at a Whole Foods store and received a QR code. He walked into the store with the items and had them scan the QR code. He received a credit to his account the following morning. Mother necessity and inventory management Inventory management must track SKU location and be able to accept returns even if an item is not sold through the channel where the return occurs. I recently exchanged a power tool at a Big Box retailer which was purchased online. It was excruciating. The online model was exactly the same as the floor model but because the online model was bundled with other items, I needed to return the entire set even though the floor model was identical to what was purchased online. Because of a different online pricing scheme, staff were not allowed to exchange a floor model with one purchased online. This experience was so full of seams, by comparison, Frankenstein’s head would be unblemished. Inventory management must go further and delineate inventory by buckets such as On-hand inventory Sold but not shipped inventory that much be deducted and Ordered but not received inventory that must be added Reporting, tracking and marketing required Merchants must be able to track customer spend over differing channels and provide guidance for marketing investment. This insight will assist businesses with content creation and promotions which will be more meaningful and personalized. The engagement should meet customers where they are and pair the technological sophistication of the consumer to that of the marketing based on their history.

Worldline’s Latest Comeback Effort: A2A Services for Merchants

by Tom Nawrocki

October 17, 2024

After operating in pilot mode for the past nine months, Bank Transfer by Worldline is now officially launching in ten ...

Dollar General Bucks Retail Store Closing Trend

Rite Aid, Klarna Offer BNPL Option for Shoppers

by Tom Nawrocki

October 16, 2024

Drugstore chain Rite Aid is teaming up with Klarna, a global payments network and shopping assistant, to offer its customers ...

QR Codes: The Missing Link To Instant Payments Adoption

by PaymentsJournal

October 14, 2024

There are more ways to send and receive payments than ever before, but the added complexity isn’t always a boon ...

Digital Wallets, BNPL Poised for Strong Holiday Growth

by Tom Nawrocki

October 9, 2024

What’s Santa bringing down the chimney this holiday season? Lots of presents that were bought with alternative payment methods. An ...

ACH Transfers May Soon Be Available at Coffee Shops

by Tom Nawrocki

October 8, 2024

Imagine paying for a $4 latte with an ACH transfer. A new partnership between Ansa and Plaid wants to make ...

Brazil’s Pix Could Surpass Credit Cards Next Year

by Wesley Grant

September 10, 2024

Pix, Brazil's instant payment system, is expected to overtake credit cards as the dominant payment method for Brazilian e-commerce transactions ...

merchant security customer engagement AI, IoT impact on retail

Enhancing Merchant Security and Customer Engagement Through AI

by PaymentsJournal

September 5, 2024

The promise of next generation of artificial intelligence, generative AI, allows us to imagine a future when vast swaths of ...

Banks, Credit Unions File Lawsuit to Stop Illinois Swipe Fee Law

by Tom Nawrocki

August 16, 2024

Banking and credit union groups have filed a lawsuit against the state of Illinois, seeking to block the ban on ...

A Cashless Future: Can Big Data Change How We Pay?, credit card

Understanding the Next Generation of Data Security Compliance

by Tom Nawrocki

August 14, 2024

One way to see what a quantum leap PCI 4.0 is for merchants is to consider the extended timeline for ...

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Tag: Merchant

Tap-to-Phone Technology Unlocks the Full Potential of Contactless Payments

Worldline’s Latest Comeback Effort: A2A Services for Merchants

Rite Aid, Klarna Offer BNPL Option for Shoppers

QR Codes: The Missing Link To Instant Payments Adoption

Digital Wallets, BNPL Poised for Strong Holiday Growth

ACH Transfers May Soon Be Available at Coffee Shops

Brazil’s Pix Could Surpass Credit Cards Next Year

Enhancing Merchant Security and Customer Engagement Through AI

Banks, Credit Unions File Lawsuit to Stop Illinois Swipe Fee Law

Understanding the Next Generation of Data Security Compliance

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