Verifone Q&A
The Changing Face of Payments
A1 Retail gets a lesson in innovative payment systems from Alan Moss, Director of Marketing for VeriFone’s Western Europe, Middle East and Africa region.
systems, and works with all forms of electronic payment. The integration of smart devices opens up opportunities for retailers to use innovative mobile apps, like those from VeriFone Global Bay, to significantly enhance retailer-to-consumer interaction and generate tangible return on investment by driving store traffic, increasing sell-ons and units per transaction.
A1:What do you believe are the most important things to consider with payment
systems? Alan Moss: “The most important aspects of a successful payment system are ensuring security, speed, simplicity and the ability to integrate with other systems, whilst delivering the most positive user experience possible – whichever way the customer wants to pay. Today, that means being able to accept contactless cards. Looking ahead, it means Near Field Commincation (NFC) and mobile payments. In addition, under incredible fiscal and regulatory pressure, retailers also want solid return on investment, longevity and added value, which is why all VeriFone’s POS devices are now PCI PTS 3.0 compliant and offer NFC/contactless capability.
A1: Do you think mobile and wireless payments will take over traditional till
point systems in the future? AM:Mobile payments offer an exciting
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opportunity for retailers. NFC smart posters will be a common feature around stores where customers can collect points or validate promotions. NFC also makes redemption of vouchers and coupons at the POS fast and hassle-free, allowing retailers to get closer to the customer. Combined with other innovations like tablet based sales devices, the store will soon be a much more interactive place to go, compared with shopping online.
A1: Which recent VeriFone innovation are
you most proud of? AM: With so many exciting things happening in our payments portfolio, it’s
hard to single out one solution. However, at Cartes last month, VeriFone won a SESAMES Award, which recognises outstanding technological innovation, for PAYware Mobile Enterprise. The system allows smart devices to be used as a secure mobile card acceptance solution, integrating with existing in-store POS
A1:What do you believe will be the future
of payment systems? AM: NFC and contactless technologies are set to significantly change the way we pay. In the UK we can now “tap and pay” with a card for purchases of £15 or less at many retailers. In the near future we will also be able use our mobile phones as a mobile wallet, paying for purchases with a wave of the phone. This speeds up transaction times and also makes other applications, such as loyalty and promotions or coupon schemes, a more compelling proposition. At VeriFone we are delivering the technology to make this happen. What’s exciting is what retailers and their marketing departments will do with it. Imagination and creativity will be key to creating a new highly personal in-store experience.
Contact:
Verifone T: +44 (0)1895 275275
www.verifone.com
www.a1retailmagazine.com
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