2015 was a busy year for the payments industry: EMV, liability shift, mobile payments, PCI, encryption and the list goes on from there. As I worked with the team here at iQmetrix to prepare for the October liability shift, retailers were all over the board in their plans to deploy EMV. Some were clueless, others scared, and still others only slightly educated.
As the New Year quickly approaches, online as well as brick-and-mortar retailers are preparing for trends and challenges that will hit the retail industry in 2016.
Today we came across an interesting Bluetooth technology, developed by a company called Lucova, that allows college students to pay for their meals using a selfie.
WIFR News in Rockford, Ill. reported yesterday (Nov. 25) on technology that allows you to pay, not with a card or your phone, but with the palm of your hand.
The retail industry braces itself every year for Black Friday and how the ritual signals the start of the holiday shopping season, but recent stats from Cardlytics show that its importance pales in comparison to the last few days before Christmas.
There seems to be a sour sentiment in the new EMV era where Americans feel it now takes longer to pay for anything, as outlined in this recent article from PCMag. Canadians went through a similar situation back in 2007 when EMV was introduced but are now enjoying the benefits of contactless credit card payment “tap-and-go” as well as NFC mobile device payments. So it was not only the reduction in credit card fraud that made EMV successful in Canada but also the speed and convenience of making payments.
The holiday season is upon us. It is this time of year retailers try their best to outdo one another to collect their share of potential revenue.
In early 2015, a rush of retailers started preparing for the October 2015, EMV liability shift. Device certifications, equipment acquisitions, training programs and implementation plans began flying about like confetti at a party. However, the early birds to the party realized the process of becoming EMV-ready can be cumbersome, costly, time-consuming and downright confusing.
TechCrunch reported today that Singpost, Singapore's postal service recently unveiled a concept mall (artist rendering above) that allows online retailers to sell their products in a physical space.
This morning, Market Platform Dynamics CEO Karen Webster posted an insightful article on Pymnts.com about the state of mobile payments in the U.S. market. She led with this month's EMV shift to chip cards, which is ushering a wave of new payment terminals in stores across the country -- many of which will enable greater acceptance of mobile payments on the merchant end.
MarketWatch's Tonya Garcia reported (Oct. 20) that a recent NRF survey found 46.5% of consumers who buy gifts online plan to pick up purchases in-store this holiday season. Can retailers handle this kind of demand?