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14


Future of Retail — Payments Innovation


issue 02


Merchants will use customer data to detect patterns among those customers to determine where any sales drop-off occurs and improve the customer experience.


It is a restaurant management system that offers payments amongst a number of other restaurant specific features such as sales analytics, loyalty, server performance, menu intelligence and shift preparation. Upserve purchased Groupon’s Breadcrumb restaurant POS management platform in 2016. Digital Dining offers restaurants a handheld POS on an iPad and was acquired by Heartland Payments systems in 2015. Also, in the food and beverage segment, Orderbird formed a strategic payment partner with ConCardis in Germany which integrates Apple Pay, Loop Pay and Google Wallet NFC tech into a single product. Orderbird is a Chip-and- Pin card reader, designed to talk with iPads, allows for secure traditional card payments and NFC contactless payments via cards or smartphones. Concardis is now the largest individual shareholder of Orderbird following its Series C funding at the start of 2016. These are examples how the food and


beverage segment is changing its view of the traditional fixed POS solution and how disruptive technologies are providing a richer omnichannel solution. This not just about payment acceptance but these new solutions provide restaurants with the holistic solution which integrates the front office to the back office and all the food & beverage specific operations, such as staff and supplier management.


PAYMENT REMAINS AT THE HEART OF A RETAILER’S OMNIPRESENT STRATEGY LightSpeed and Vend are two example vendors that have comprehensive value added services that can be integrated into the core tablet based POS solution. Vend offers an omnichannel solution which is able to be integrated into a growing ecosystem of apps that support social media and marketplaces, such as Etsy, eBay, and Amazon.


Integration with


Shopify, loyalty solutions, inventory systems, gifting, accounting, real-time reporting and reconciliation enriches the payment solution which is secondary to supporting the retailer’s business. As in the food and beverage segment this is another example where new technologies are disrupting the traditional fixed POS solutions that are used by general retailers. These new omnichannel solutions are helping staff to be more mobile and connected via a tablet solution, and enabling them to better serve a customer with greater agility. Implementing an omnipresent strategy


can be challenging, but this can be resolved with the help of an outside consultancy that understands payment from acceptance through to the settlement of the funds. With the rising popularity of omnichannel retailing, the customers’ expectations are equally rising. To deploy mobile technologies and accept a growing list of payment methods will only become increasingly more complex and dynamic in the future. Now is the time to make your omnichannel approach future proof in order to best serve the customer and provide them with the types of experiences they expect.


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