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European B2C E-commerce Report 2016

Stimulating cross-border e-commerce is Ecommerce Europe’s mission, and therefore we are happy to know that the digital sector is booming. Online retail continues to grow significantly. The European e-commerce turnover managed to increase 13.3% to €455.3 billion in 2015. Compared to the 1.0% growth of general retail in Europe, we can safely state that online trading is here to stay. However, the full potential of the European e-commerce market has not been reached yet. We want to work together with all European stakeholders to rapidly remove remaining barriers in the cross-border online sales market, and we do so by providing policy and market solutions which are evidence-based.

Spotlight

Star Micronics

Star Micronics, a leading manufacturer in the global POS industry, provides solutions for printers, cash drawers, and proof of transaction for any POS application. Star Micronics Company, Ltd. is a global manufacturer of point of sale printers and cash drawers. Extensive technical expertise, amassed from over 50 years of experience in precision technology, led to the creation of a wide array of high quality products. Star products are manufactured in facilities throughout the world, featuring the latest factory automation and computer integrated manufacturing systems. Its high total efficiency ensures high productivity and competitive prices on products that are sold worldwide and backed by an integrated sales and marketing network that stretches across the globe. Star audio products are used in applications such as automotive, wireless communications, medical instrumentation, testing equipment, alarms, computer peripherals, appliances, general industrial hardware and more.

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POS Solutions

Getting smart about payment terminals

Article | April 4, 2024

For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions. However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions. The Android Operating System leads the way Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology. Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs. The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives. Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies. It’s about more than being just Covid-ready Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example. However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready. For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems. As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly. Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line. As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times. Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour. Payment terminals and Big Data With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments. When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly. Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits. With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.

Read More
POS Solutions, Ecommerce Merchandising

How To Avoid Overpaying On Your POS Processing Fees

Article | June 7, 2024

Running a small business requires a tight eye on profits. More than likely, you will face scenarios in which you incur higher transaction fees you didn’t expect and could have avoided in the first place. Knowing how to navigate processing fees is a key part of your success. Whether you run a single location, a multi-location business, or even a mobile business, avoiding unnecessary fees should be part of the game plan. Unfortunately, less-than-reputable POS providers are out there, and understanding fees associated with taking payment from customers isn’t easy, but knowing what to look for will help. In this article, we cover fees to keep an eye on and how to save more on your processing fees. How To Avoid Paying Unnecessary Credit Card Processing Fees Unfortunately, if you want to accept credit and debit cards as a form of payment in your business, you’re going to experience processing fees. The financial benefits outweigh the transaction costs, but you can still save some money on your POS system and credit card processing. Negotiate Your Processing Fees The reason it can be so hard to understand the actual cost of processing fees is that many merchant service providers bury fees in the fine print, and these fees can come back to haunt you. In general, the more upfront a company is about all its charges, the more trustworthy and reliable they are because they have nothing to hide, and typically those rates will be fair. But it also helps to keep an eye on certain aspects of a contract. You can then negotiate them or repackage services to boost your profits. Transaction Fees: Choose The Right Plan When setting up your contract, you are given the option of a range of credit card pricing plans. Here are three of the most common pricing models. Interchange Plus Fee Pricing This option offers different transaction rates for different card types, bank issuers, methods of transactions, and more. By understanding these fees when processing transactions, you can benefit financially by encouraging the usage of certain cards or procedures that are least costly. Tiered Pricing In this scenario, you are charged different rates for different tiers created by your provider. It’s important to evaluate this option carefully because most transactions can fall into a less favorable tier rate. Flat-fee Structure Pricing This fee allows for one charge for card-present (CP) transactions and another for card-not-present (CNP) transactions, regardless of card type. This predictable, one-rate pricing model is easy to follow, allowing you to encourage a lower cents-per-transaction option and formulate special pricing deals. However flat-rate can sometimes come out as more expensive than interchange-plus pricing. How To Avoid Monthly PCI Compliance Charges A semi-regular fee many merchants run into is not falling in line with PCI Compliant in how they handle payment information. Being PCI compliant means maintaining important standards for customer data protection, and it is taken seriously. Compliance is required for major credit cards such as Visa and Mastercard and is becoming more popular as businesses continue to shift to online sales. Rule enforcement is most often the responsibility of payment processing companies. Your provider will charge you two fees: a PCI compliance fee – which is once a year – and a PCI non-compliance fee – which occurs every month you have not completed your yearly PCI Compliance audit. Providers are free to charge however much they like for each service, and it can range anywhere between $30-$99 a month. Monthly charges are done both directly or indirectly via higher monthly fees, processing rates, or both. In some cases, the charges begin months after originally signing up with the processors hoping you won’t keep a close eye on all your ongoing processing fees. As a merchant service provider, we at BNG Point-Of-Sale have a long and reliable history in helping our customers practice PCI Compliance within their business and avoid non-compliance fees. PCI Compliance is necessary and it does require some work by the processors, so the charges aren’t a hoax, but there are some ways to keep costs down: You can take on the responsibility of PCI Compliance yourself and forgo the processor’s fee; however, you will be on your own if issues arise. In today’s world of increasing e-commerce, it’s not recommended. You can prevent the risk of non-compliance fees by working with companies that handle compliance internally. If they (not you) are the source of customer purchasing data, they are automatically in charge of it. Square and PayPal are examples of companies that handle all PCI Compliance, and we often account for these services when onboarding our customers and annually remind them to follow PCI Compliance. At first glance, it may appear you are not charged by these companies for compliance and non-compliance, but in reality, compliance is still built into the standard fee for service; you just won’t see it specified. Still, you won’t be responsible for non-compliance fees since they own the data and are fully responsible for it. The amount of compliance required of your business depends on how you take in payment and store customer data. Since processors have numerous clients and prefer not to get specific about it, they may charge a basic fee to cover most issues. This means you could be overpaying, so it’s a good area to evaluate this price of the packaged service vs. when it is priced individually. There may be companies that don’t charge for compliance, but they are rare and may be suspect. In most cases, any free compliance is covered with higher fees in other areas. How To Avoid Chargeback Fees Chargeback fees should be avoided since they are more expensive than traditional transaction fees – especially if you are categorized as a “high risk” client. The first step is to avoid chargebacks in the first place. Chargebacks can be the result of sales errors by you and your team, a misunderstanding by the customer, or the result of identity theft. Here are some ways to combat each. Reduce Transaction Errors Know when to stop a transaction. If an error occurs, push the cancel/hold button inside the transaction. If you are unable to do this, the transaction has already been claimed by the processing company. Accurately process credits as credits and sales as sales. Receive an Authorization Approval Code (AAC) before running a transaction. Before batching your credit card processing at the end of the day, review all charges to verify all charges are correct and not duplicated. Keeping this as an active daily routine can prevent costly mistakes. Ensure shipped items arrive to the customer to avoid disputes. Select the “ship product to billing address” to alleviate data error. Keep Records Of Voids Provide records to your customer of any proof of voids and include companion documentation for any disputes showing details of each purchase. Decrease Risk Of Theft If your processor charges more for card-not-present transactions, which most do, it’s because the risk of theft is higher. By requiring a driver’s license and signature and doing manually keyed-in card payments in person rather than over the phone, you lower the risk and enjoy lower charges per transaction. Try to avoid non-qualified processing (when a card isn’t present or keyed or is missing billing information.) This type of processing is considered a high-risk factor, and processors charge accordingly. When Possible, Run Orders On Debit Cards Debit cards are considered a lower risk than credit cards and, in turn, the transaction rates are quite a bit less. This has mostly to do with the fact the purchase is a direct bank-to-bank transaction, but other factors make a difference such as PIN verification and signature requirements, bringing these purchases into a lower risk category. And typically the rates hold. You will still experience rate differences among debit cards related to how the purchases are conducted and who the issuing bank is. Special incentives such as loyalty programs for debit card users help to easily boost profits. A Final Thought On Keeping Processing Fees Low As you can see, several variables can affect your processing rates. From fines to the pricing model your merchant service provider recommends, there’s a lot to consider. As tempting as it can be to just try and find the cheapest option, be careful going with the lowest bidder. Remember, all POS and payment processing providers have to make some money to cover the costs of support their merchants. If you choose a processor with incredibly low fees, you run the risk of getting what you pay for when it comes to supporting your business. If you’re not sure if you’re overpaying on your processing fees and want a free analysis, let our team review your current monthly statements and we’ll let you know if you’re getting a good deal or not.

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POS Solutions

Impact of Cashless Transactions on Third-Party Payments

Article | February 14, 2024

In recent years, with the progression and development of information technology and the Internet, the third-party payment platform has experienced immense up-gradation. This has resulted in facilitating people's lives to a great extent and simplifying and transforming the method of payment. With the accelerated advancement in the era of the Internet and the significant rise in the scale of third-party payment transactions, in comparison to the conventional mode of payment, these solutions have substantially increased people's consumption power by not only making operations more convenient and reducing transaction costs, but also by safeguarding the rights and interests of both parties. Shift Towards Cashless Transactions Bolstering the Third Party Payments There is a rapid shift towards the use of cashless point-of-sale (POS) solutions, driven by the growing digitalization. According to a study, nearly 82 percent of the population in the U.S. are using digital or cashless payments—defined to include in-app or browser-based online purchases, QR codes, in-store checkout using a mobile phone, and person-to-person (P2P) payments. Citing the trend, about 27% of consumers and around 32% of business owners said they believe the U.S. will become a completely cashless society in the coming future. Third-party payment solutions add functionality to the cashless transactions and act as payment aggregators, providing freedom and flexibility to customers to select the solutions they find most favorable to meet their financial needs. Therefore, with increasing cashless transactions, third-party payment solutions will gain huge traction across the POS sector. What’s Next? With the improvement in the urbanization level, the continuous growth of the urban population, and the appeal of third-party payment solutions, it is crucial to tap into the spending potential of customers. Hence, leading POS solution providers are emphasizing on development and introduction of new third-party and mobile POS systems. For instance, Paynear Solutions Pvt. Ltd., a financial technology company, announced the launch of a third-party omnichannel cashless solution under an umbrella through a mobile PoS solution, enabling all the business owners signed up with Paynear to seamlessly accept UPI transactions.

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POS Solutions

POS System Installation Cost: 5 Factors that Influence Price

Article | March 23, 2022

How much does it cost to install a point of sale (POS) system? It’s a question that we get all the time and the answer might surprise you. If you’re trying to grow a retail small business, you probably don’t have all the money and resources in the world to commit to an expensive retail POS system. Moreover, finding the best retail POS system for your growing small business is easier said than done, especially if you don’t know what features to prioritize in your search. So, what’s the good news? Finding the right POS system for your business is as easy as 1-2-3 and installing a POS system is actually quite affordable! How Much Does it Cost to Install a POS System? The short answer: it depends and varies by POS type and by vendor. We've seen POS installation costs range from $0-$700. Installation costs come on top of the upfront hardware costs (up to $1,600), monthly software fees (anywhere from $9-299 per month) and payment processing fees. When it's all said and done, your total cost of ownership for year one can range from $1,200-$6,500. Controlling POS installation costs is key in minimizing first-year total ownership cost. There are two types of costs to consider related to installing a POS system: time costs and financial costs. The most significant delays come when the POS system isn’t pre-configured for your unique business. In this scenario, you may spend a considerable amount of time aligning the system with your sales processes. Additionally, if your inventory management, employee payroll, and other tools are built inside separate programs, you may need to spend time integrating and combing these systems, thus increasing POS installation costs. Finally, if the provider doesn’t offer online software guides or tutorials, you may spend your time figuring out features and functionality on your own. Without these helpful resources, you’ll spend a considerable amount of time fumbling through the system. No one has time for that! These time costs tie directly into financial costs. Instead of spending time installing a POS system yourself, you could be spending that time ringing in sales! Here are some of the other things that influence POS system installation costs. Number of Stations If your POS system isn’t pre-configured so that you can “plug and play,” you’re most likely going to require an on-site technician to install your POS. Often, the total number of stations influences total installation cost. The more stations you have, the more time the technician has to spend installing them, and the higher your installation costs will be. Type of Software/Hardware This is another downfall of not purchasing an all-in-one retail POS system that comes pre-configured. Some software and hardware come with additional installation costs because they require more time for your on-site technician to complete. These costs can also be looked at from the type of POS system you purchase: on-site, cloud-based, or hybrid. On-site POS systems typically take the most effort to install, meaning a higher financial cost. Cloud-based and hybrid POS systems are easier to install, but installation time is dictated by whether the software and hardware is pre-configured or not. Advanced Features Many advanced POS system features may require additional time and additional cost for a technician to install. iPads or other mobile devices for staff to use when serving customers Handheld scanners for inventory Payment hardware and their corresponding security systems or software Data or product migrations from your previous POS system Number of Users Certain POS providers price their system based on the number of users. This can also affect install costs. If you require an on-site technician and/or you don’t have access to a tutorial for adding users to the system, the technician will most likely have to do that for you. Again, this means more time spent installing your POS system, increasing the total installation cost. Training Some POS providers will wrap POS system training into installation costs. This will require an investment of time from key stakeholders, including management and employees. Some POS providers will also charge you for additional training outside of the initial training session. If they don’t have online training resources, this means every new employee will either need to be trained by the provider (costing you money) or trained by you or another staff member (costing you time). POS Nation Reduces the Cost of Installing a POS System With a POS Nationall-in-one retail POS system, setting up your hardware is easier than you’d think. The benefit of purchasing a full point of sale system from us is that it’s a plug-and-play solution. Take it out of the box, plug everything in, and it’s ready to go! Our team of technicians pre-configures your hardware so you don't have to worry about any installations when it arrives. Most of our advanced features are baked right into the software. There are some that cost extra, but most are pre-installed, making us a more powerful and affordable solution. Additionally, you are assigned a customer success manager. Their goal is to help you get up and running as quickly and smoothly as possible. They will schedule a hardware setup appointment with you. During this call, they will assist you with: Remote hardware setup Hardware testing A test transaction on the pinpad Any basic training they can cover during the appointment time They will book as many training sessions as you need to solidify your understanding of the software and its many functionalities.

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POS Solutions

Harnessing Retail POS Power: Boosting Sales and Streamlining Ops

Article | April 4, 2024

For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions. However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions. The Android Operating System leads the way Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology. Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs. The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives. Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies. It’s about more than being just Covid-ready Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example. However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready. For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems. As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly. Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line. As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times. Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour. Payment terminals and Big Data With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments. When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly. Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits. With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.

Read More
POS Solutions, Ecommerce Merchandising

Driving Success with Localization of Global E-commerce Platforms

Article | June 7, 2024

Running a small business requires a tight eye on profits. More than likely, you will face scenarios in which you incur higher transaction fees you didn’t expect and could have avoided in the first place. Knowing how to navigate processing fees is a key part of your success. Whether you run a single location, a multi-location business, or even a mobile business, avoiding unnecessary fees should be part of the game plan. Unfortunately, less-than-reputable POS providers are out there, and understanding fees associated with taking payment from customers isn’t easy, but knowing what to look for will help. In this article, we cover fees to keep an eye on and how to save more on your processing fees. How To Avoid Paying Unnecessary Credit Card Processing Fees Unfortunately, if you want to accept credit and debit cards as a form of payment in your business, you’re going to experience processing fees. The financial benefits outweigh the transaction costs, but you can still save some money on your POS system and credit card processing. Negotiate Your Processing Fees The reason it can be so hard to understand the actual cost of processing fees is that many merchant service providers bury fees in the fine print, and these fees can come back to haunt you. In general, the more upfront a company is about all its charges, the more trustworthy and reliable they are because they have nothing to hide, and typically those rates will be fair. But it also helps to keep an eye on certain aspects of a contract. You can then negotiate them or repackage services to boost your profits. Transaction Fees: Choose The Right Plan When setting up your contract, you are given the option of a range of credit card pricing plans. Here are three of the most common pricing models. Interchange Plus Fee Pricing This option offers different transaction rates for different card types, bank issuers, methods of transactions, and more. By understanding these fees when processing transactions, you can benefit financially by encouraging the usage of certain cards or procedures that are least costly. Tiered Pricing In this scenario, you are charged different rates for different tiers created by your provider. It’s important to evaluate this option carefully because most transactions can fall into a less favorable tier rate. Flat-fee Structure Pricing This fee allows for one charge for card-present (CP) transactions and another for card-not-present (CNP) transactions, regardless of card type. This predictable, one-rate pricing model is easy to follow, allowing you to encourage a lower cents-per-transaction option and formulate special pricing deals. However flat-rate can sometimes come out as more expensive than interchange-plus pricing. How To Avoid Monthly PCI Compliance Charges A semi-regular fee many merchants run into is not falling in line with PCI Compliant in how they handle payment information. Being PCI compliant means maintaining important standards for customer data protection, and it is taken seriously. Compliance is required for major credit cards such as Visa and Mastercard and is becoming more popular as businesses continue to shift to online sales. Rule enforcement is most often the responsibility of payment processing companies. Your provider will charge you two fees: a PCI compliance fee – which is once a year – and a PCI non-compliance fee – which occurs every month you have not completed your yearly PCI Compliance audit. Providers are free to charge however much they like for each service, and it can range anywhere between $30-$99 a month. Monthly charges are done both directly or indirectly via higher monthly fees, processing rates, or both. In some cases, the charges begin months after originally signing up with the processors hoping you won’t keep a close eye on all your ongoing processing fees. As a merchant service provider, we at BNG Point-Of-Sale have a long and reliable history in helping our customers practice PCI Compliance within their business and avoid non-compliance fees. PCI Compliance is necessary and it does require some work by the processors, so the charges aren’t a hoax, but there are some ways to keep costs down: You can take on the responsibility of PCI Compliance yourself and forgo the processor’s fee; however, you will be on your own if issues arise. In today’s world of increasing e-commerce, it’s not recommended. You can prevent the risk of non-compliance fees by working with companies that handle compliance internally. If they (not you) are the source of customer purchasing data, they are automatically in charge of it. Square and PayPal are examples of companies that handle all PCI Compliance, and we often account for these services when onboarding our customers and annually remind them to follow PCI Compliance. At first glance, it may appear you are not charged by these companies for compliance and non-compliance, but in reality, compliance is still built into the standard fee for service; you just won’t see it specified. Still, you won’t be responsible for non-compliance fees since they own the data and are fully responsible for it. The amount of compliance required of your business depends on how you take in payment and store customer data. Since processors have numerous clients and prefer not to get specific about it, they may charge a basic fee to cover most issues. This means you could be overpaying, so it’s a good area to evaluate this price of the packaged service vs. when it is priced individually. There may be companies that don’t charge for compliance, but they are rare and may be suspect. In most cases, any free compliance is covered with higher fees in other areas. How To Avoid Chargeback Fees Chargeback fees should be avoided since they are more expensive than traditional transaction fees – especially if you are categorized as a “high risk” client. The first step is to avoid chargebacks in the first place. Chargebacks can be the result of sales errors by you and your team, a misunderstanding by the customer, or the result of identity theft. Here are some ways to combat each. Reduce Transaction Errors Know when to stop a transaction. If an error occurs, push the cancel/hold button inside the transaction. If you are unable to do this, the transaction has already been claimed by the processing company. Accurately process credits as credits and sales as sales. Receive an Authorization Approval Code (AAC) before running a transaction. Before batching your credit card processing at the end of the day, review all charges to verify all charges are correct and not duplicated. Keeping this as an active daily routine can prevent costly mistakes. Ensure shipped items arrive to the customer to avoid disputes. Select the “ship product to billing address” to alleviate data error. Keep Records Of Voids Provide records to your customer of any proof of voids and include companion documentation for any disputes showing details of each purchase. Decrease Risk Of Theft If your processor charges more for card-not-present transactions, which most do, it’s because the risk of theft is higher. By requiring a driver’s license and signature and doing manually keyed-in card payments in person rather than over the phone, you lower the risk and enjoy lower charges per transaction. Try to avoid non-qualified processing (when a card isn’t present or keyed or is missing billing information.) This type of processing is considered a high-risk factor, and processors charge accordingly. When Possible, Run Orders On Debit Cards Debit cards are considered a lower risk than credit cards and, in turn, the transaction rates are quite a bit less. This has mostly to do with the fact the purchase is a direct bank-to-bank transaction, but other factors make a difference such as PIN verification and signature requirements, bringing these purchases into a lower risk category. And typically the rates hold. You will still experience rate differences among debit cards related to how the purchases are conducted and who the issuing bank is. Special incentives such as loyalty programs for debit card users help to easily boost profits. A Final Thought On Keeping Processing Fees Low As you can see, several variables can affect your processing rates. From fines to the pricing model your merchant service provider recommends, there’s a lot to consider. As tempting as it can be to just try and find the cheapest option, be careful going with the lowest bidder. Remember, all POS and payment processing providers have to make some money to cover the costs of support their merchants. If you choose a processor with incredibly low fees, you run the risk of getting what you pay for when it comes to supporting your business. If you’re not sure if you’re overpaying on your processing fees and want a free analysis, let our team review your current monthly statements and we’ll let you know if you’re getting a good deal or not.

Read More
POS Solutions

Bridging B2B Gaps: MyTradeZone's Innovative Approach to Business Networking

Article | February 14, 2024

In recent years, with the progression and development of information technology and the Internet, the third-party payment platform has experienced immense up-gradation. This has resulted in facilitating people's lives to a great extent and simplifying and transforming the method of payment. With the accelerated advancement in the era of the Internet and the significant rise in the scale of third-party payment transactions, in comparison to the conventional mode of payment, these solutions have substantially increased people's consumption power by not only making operations more convenient and reducing transaction costs, but also by safeguarding the rights and interests of both parties. Shift Towards Cashless Transactions Bolstering the Third Party Payments There is a rapid shift towards the use of cashless point-of-sale (POS) solutions, driven by the growing digitalization. According to a study, nearly 82 percent of the population in the U.S. are using digital or cashless payments—defined to include in-app or browser-based online purchases, QR codes, in-store checkout using a mobile phone, and person-to-person (P2P) payments. Citing the trend, about 27% of consumers and around 32% of business owners said they believe the U.S. will become a completely cashless society in the coming future. Third-party payment solutions add functionality to the cashless transactions and act as payment aggregators, providing freedom and flexibility to customers to select the solutions they find most favorable to meet their financial needs. Therefore, with increasing cashless transactions, third-party payment solutions will gain huge traction across the POS sector. What’s Next? With the improvement in the urbanization level, the continuous growth of the urban population, and the appeal of third-party payment solutions, it is crucial to tap into the spending potential of customers. Hence, leading POS solution providers are emphasizing on development and introduction of new third-party and mobile POS systems. For instance, Paynear Solutions Pvt. Ltd., a financial technology company, announced the launch of a third-party omnichannel cashless solution under an umbrella through a mobile PoS solution, enabling all the business owners signed up with Paynear to seamlessly accept UPI transactions.

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POS Solutions

POS System Installation Cost: 5 Factors that Influence Price

Article | March 23, 2022

How much does it cost to install a point of sale (POS) system? It’s a question that we get all the time and the answer might surprise you. If you’re trying to grow a retail small business, you probably don’t have all the money and resources in the world to commit to an expensive retail POS system. Moreover, finding the best retail POS system for your growing small business is easier said than done, especially if you don’t know what features to prioritize in your search. So, what’s the good news? Finding the right POS system for your business is as easy as 1-2-3 and installing a POS system is actually quite affordable! How Much Does it Cost to Install a POS System? The short answer: it depends and varies by POS type and by vendor. We've seen POS installation costs range from $0-$700. Installation costs come on top of the upfront hardware costs (up to $1,600), monthly software fees (anywhere from $9-299 per month) and payment processing fees. When it's all said and done, your total cost of ownership for year one can range from $1,200-$6,500. Controlling POS installation costs is key in minimizing first-year total ownership cost. There are two types of costs to consider related to installing a POS system: time costs and financial costs. The most significant delays come when the POS system isn’t pre-configured for your unique business. In this scenario, you may spend a considerable amount of time aligning the system with your sales processes. Additionally, if your inventory management, employee payroll, and other tools are built inside separate programs, you may need to spend time integrating and combing these systems, thus increasing POS installation costs. Finally, if the provider doesn’t offer online software guides or tutorials, you may spend your time figuring out features and functionality on your own. Without these helpful resources, you’ll spend a considerable amount of time fumbling through the system. No one has time for that! These time costs tie directly into financial costs. Instead of spending time installing a POS system yourself, you could be spending that time ringing in sales! Here are some of the other things that influence POS system installation costs. Number of Stations If your POS system isn’t pre-configured so that you can “plug and play,” you’re most likely going to require an on-site technician to install your POS. Often, the total number of stations influences total installation cost. The more stations you have, the more time the technician has to spend installing them, and the higher your installation costs will be. Type of Software/Hardware This is another downfall of not purchasing an all-in-one retail POS system that comes pre-configured. Some software and hardware come with additional installation costs because they require more time for your on-site technician to complete. These costs can also be looked at from the type of POS system you purchase: on-site, cloud-based, or hybrid. On-site POS systems typically take the most effort to install, meaning a higher financial cost. Cloud-based and hybrid POS systems are easier to install, but installation time is dictated by whether the software and hardware is pre-configured or not. Advanced Features Many advanced POS system features may require additional time and additional cost for a technician to install. iPads or other mobile devices for staff to use when serving customers Handheld scanners for inventory Payment hardware and their corresponding security systems or software Data or product migrations from your previous POS system Number of Users Certain POS providers price their system based on the number of users. This can also affect install costs. If you require an on-site technician and/or you don’t have access to a tutorial for adding users to the system, the technician will most likely have to do that for you. Again, this means more time spent installing your POS system, increasing the total installation cost. Training Some POS providers will wrap POS system training into installation costs. This will require an investment of time from key stakeholders, including management and employees. Some POS providers will also charge you for additional training outside of the initial training session. If they don’t have online training resources, this means every new employee will either need to be trained by the provider (costing you money) or trained by you or another staff member (costing you time). POS Nation Reduces the Cost of Installing a POS System With a POS Nationall-in-one retail POS system, setting up your hardware is easier than you’d think. The benefit of purchasing a full point of sale system from us is that it’s a plug-and-play solution. Take it out of the box, plug everything in, and it’s ready to go! Our team of technicians pre-configures your hardware so you don't have to worry about any installations when it arrives. Most of our advanced features are baked right into the software. There are some that cost extra, but most are pre-installed, making us a more powerful and affordable solution. Additionally, you are assigned a customer success manager. Their goal is to help you get up and running as quickly and smoothly as possible. They will schedule a hardware setup appointment with you. During this call, they will assist you with: Remote hardware setup Hardware testing A test transaction on the pinpad Any basic training they can cover during the appointment time They will book as many training sessions as you need to solidify your understanding of the software and its many functionalities.

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Star Micronics

Star Micronics, a leading manufacturer in the global POS industry, provides solutions for printers, cash drawers, and proof of transaction for any POS application. Star Micronics Company, Ltd. is a global manufacturer of point of sale printers and cash drawers. Extensive technical expertise, amassed from over 50 years of experience in precision technology, led to the creation of a wide array of high quality products. Star products are manufactured in facilities throughout the world, featuring the latest factory automation and computer integrated manufacturing systems. Its high total efficiency ensures high productivity and competitive prices on products that are sold worldwide and backed by an integrated sales and marketing network that stretches across the globe. Star audio products are used in applications such as automotive, wireless communications, medical instrumentation, testing equipment, alarms, computer peripherals, appliances, general industrial hardware and more.

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POS Retail

Assembly Acquires PipeCandy, a Leading eCommerce Market Data and Intelligence Provider

Assembly | April 26, 2022

Assembly announced the acquisition of PipeCandy. Assembly is an eCommerce software platform with a global footprint that powers market-leading products such as Helium 10, Pacvue, and Refersion. PipeCandy is the global leader in vertical DaaS and market intelligence, tracking information on 5.4 million online businesses. "With PipeCandy, we now unlock a 360-degree view of eCcommerce performance of brands. As a result, PipeCandy has the best data set on DTC eCommerce in the industry and Assembly is now poised to be the authority of omni-channel eCommerce market intelligence." Ben Collier, Head of Product at Assembly PipeCandy analyzes the worldwide direct-to-consumer market's complex data sets and provides actionable insights to marketers, investors, analysts, and sales teams at top logistics, technology, and financial organizations. Ashwin Ramasamy, the co-founder of PipeCandy, said, "We quintupled our coverage through 2021 and our customers include some of the most prominent companies and brands in the lending, financial services, SaaS, and logistics industries. Being a product in the Assembly platform will allow us to solidify our position as the largest, cleanest and most accurate dataset on eCommerce and DTC companies, and scale our product and business insight offerings for brands and eCommerce operators." Along with the purchase, PipeCandy recently opened a first-of-its-kind Data Center of Excellence, where product managers, data scientists, data UI designers, and application developers collaborate to swiftly develop omnichannel insight solutions.

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POS Retail

Neiman Marcus Group Celebrates Earth Month with In-Store Activations and Speaking Events Reinforcing its 2025 ESG Goals

Neiman Marcus Group | April 23, 2022

To celebrate Earth Month, Neiman Marcus Group is proud to announce new initiatives, partnerships, and in-store activations that will further the organization's continued progress against its Environmental Social Governance (ESG) strategy, Our Journey to Revolutionize Impact. "We are on a journey to revolutionize impact, and this includes setting meaningful ESG goals. The fashion industry must take steps toward a commitment to ESG and transparency to consumers, stakeholders, and the government. We are proud to join hands with our brand partners and other organizations to increase awareness and inspire action within our industry. As we move closer to our 2025 goals outlined in our recent ESG report, we look forward to continuing the momentum we've made to minimize the impact of how we serve our clients through our digital channels, stores, and supply chain, as well as the experiences we create and the products we sell." Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group As part of its efforts to reduce Scope 1 & 2 emissions by 50% by 2025 and procure 100% renewable energy use by 2030, this month, NMG partnered with Trane® by Trane Technologies to replace natural gas-powered chillers with two new 500-ton water-cooled Trane® chillers at their iconic Bergdorf Goodman's Women's Store, located in the heart of New York City's famed retail district. This installation utilized innovative, energy-efficient decarbonization technology that enabled the retailer to eliminate natural gas use, electrify the building, and procure a new renewable energy contract to power the store's operations. The move will contribute to New York City's goal of reaching net-zero greenhouse gas emissions by 2050 while keeping shoppers cool and comfortable. Meanwhile, Neiman Marcus stores across the U.S. are driving progress toward the company's goal to partner with customers to raise an additional $3,000,000 for Heart of Neiman Marcus Foundation grantees through point-of-sale (POS) fundraising. In March, the retailer began a POS fundraising campaign for the Fashion Scholarship Fund (FSF) that invites customers and associates to donate in-store and online through April 30. Proceeds from the campaign will fund creating a new NMG x FSF scholarship for students aspiring to careers in sustainable and ethical fashion. The effort has raised enough money to fund at least seven NMG x FSF scholars in the partnership's first year. As NMG seeks to increase revenue from sustainable and ethical products by 2025, it is also proud to announce the upcoming launch of the new 'Fashioned for Change' and 'Conscious Curation' edits at Neiman Marcus and Bergdorf Goodman. These edits will identify items with preferred product attributes made with sustainable materials, including bio-based vegan leathers, as well as products that are responsibly manufactured, give back philanthropically, are made by diverse-owned brands, or promote enhanced transparency through digital product passports from groups like EON. Products from participating brand partners will be highlighted on NeimanMarcus.com and BergdorfGoodman.com and will be considered for exposure in highly visible placements via in-store and digital channels. To explore the new 'Fashioned for Change' edit at Neiman Marcus, visit here. The 'Conscious Curation' edit at Bergdorf Goodman will launch in the upcoming months. NMG will be hosting and sponsoring a variety of speaking events throughout the month to socialize the efforts above with associates, customers, and the broader fashion industry. To build on last year's conversation with Elizabeth Cline, author of 'The Conscious Closet,' NMG is hosting an all-associate event on April 26 with Aja Barber, author of 'Consumed.' This talk will take a deep dive into Barber's book, which explores the intersection of climate change, colonialism, and consumerism in the fashion industry. Customers near Neiman Marcus Northbrook in Chicago will also be invited to attend a panel discussion on social and environmental issues facing the fashion industry and its next generation of talent with industry trailblazer Eileen Fisher and Melissa Gamble, a professor at Columbia College of Chicago – an FSF member school. Finally, to continue educating and amplifying the call for sustainable practices in the broader industry, NMG is excited to sponsor the Women's Wear Daily Sustainability Summit and the Sustainable Fashion Forum fireside chat, which will be held this month. NMG executives will host panels and fireside chats about topics surrounding circularity in fashion, fur and leather alternatives, the role of technology in sustainability, and more, along with innovators in the space from pioneering organizations like FASHIONPHILE, Prota Fiori, and EON. About The Neiman Marcus Group, LLC Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands, Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. We have also set bold 2030 Sustainability Commitments for ourselves and our customers. Through our Gigaton Challenge, we have committed to reducing our customers' carbon emissions by one gigaton or, one billion metric tons by the year 2030. About Trane Trane by Trane Technologies, a global climate innovator – creates comfortable, energy-efficient indoor environments for commercial and residential applications.

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POS Solutions

Rezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments

Rezolve | April 22, 2022

Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally. As part of the agreement, Computop will offer Rezolve’s technology to its more than 15,000 global clients, providing them with new mobile engagement and commerce tools. Rezolve, an enterprise SaaS platform designed from the ground up specifically for mobile commerce and engagement, is positioned to become the engine of mobile engagement that enables the transformation of interactions between consumers and merchants on mobile devices. Computop helps retailers and service providers to process their omnichannel payments securely and conveniently worldwide and was the first payment service provider in Germany, and among the first globally, to obtain PCI P2PE certification, or Point-to-Point Encryption certification. “We are excited to announce this partnership with Computop, a German leader in payment services around the world. This represents a great opportunity for Rezolve to extend our mobile engagement technology to their impressive list of clients around the world.” Dan Wagner, Rezolve’s Chairman and CEO Computop’s large international merchant and global marketplace partners are in industries such as retail, mobility, travel and gaming. Global customers include C&A, Fossil, Metro, Rakuten, Samsung, SIXT and Swarovski. Computop focuses on global omnichannel payment, fraud prevention, global POS, global e-commerce, in-app payments, local payments worldwide, risk management, reconciliation and accounting solutions. "For Computop this is exciting because our business model depends on the success of our customers,” said Ralf Gladis, founder and CEO of Computop. “We believe that our merchants can be more successful if they can reach out to customers with Rezolve. With Rezolve’s mobile technology our merchants will be able to trigger their customers wherever they are.” After buying EOS Payments from Otto Group in 2013, Computop now processes payments for all 100 Otto retail brands. In cooperation with its network of partners, which it has expanded over many years, Computop offers a comprehensive omnichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes. Computop’s Shop modules provide worry-free integration with shop systems like Salesforce/Demandware, SAP hybris, Intershop, Magento, Oxid, Shopware, Spryker, and 20 others. With Rezolve, merchants can lead consumers directly to special offers by using mobile technology including geofencing, notifications on smartphones, Bluetooth beacons, or with watermarked advertisements. Rezolve currently has go-to-market partner agreements with leading global players that have a combined global reach of over 20 million merchants and over 1 billion consumers across China, Asia and Europe. Rezolve’s platform already serves over 196,000 of those merchants today. For Computop customers the partnership means it will be easy to use Rezolve, because their payment processing is already integrated with Rezolve’s technology. Thousands of Computop customers can now easily use Rezolve. Meanwhile, for Rezolve, the Computop Paygate is a payment platform that offers access to more than 60 acquirers worldwide. Therefore, merchants can use their existing acquiring contracts for credit cards. About Rezolve Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices in China, India, Taiwan, Germany, Spain and Mexico. About Computop As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The internally developed Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. Retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

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POS Retail

Assembly Acquires PipeCandy, a Leading eCommerce Market Data and Intelligence Provider

Assembly | April 26, 2022

Assembly announced the acquisition of PipeCandy. Assembly is an eCommerce software platform with a global footprint that powers market-leading products such as Helium 10, Pacvue, and Refersion. PipeCandy is the global leader in vertical DaaS and market intelligence, tracking information on 5.4 million online businesses. "With PipeCandy, we now unlock a 360-degree view of eCcommerce performance of brands. As a result, PipeCandy has the best data set on DTC eCommerce in the industry and Assembly is now poised to be the authority of omni-channel eCommerce market intelligence." Ben Collier, Head of Product at Assembly PipeCandy analyzes the worldwide direct-to-consumer market's complex data sets and provides actionable insights to marketers, investors, analysts, and sales teams at top logistics, technology, and financial organizations. Ashwin Ramasamy, the co-founder of PipeCandy, said, "We quintupled our coverage through 2021 and our customers include some of the most prominent companies and brands in the lending, financial services, SaaS, and logistics industries. Being a product in the Assembly platform will allow us to solidify our position as the largest, cleanest and most accurate dataset on eCommerce and DTC companies, and scale our product and business insight offerings for brands and eCommerce operators." Along with the purchase, PipeCandy recently opened a first-of-its-kind Data Center of Excellence, where product managers, data scientists, data UI designers, and application developers collaborate to swiftly develop omnichannel insight solutions.

Read More

POS Retail

Neiman Marcus Group Celebrates Earth Month with In-Store Activations and Speaking Events Reinforcing its 2025 ESG Goals

Neiman Marcus Group | April 23, 2022

To celebrate Earth Month, Neiman Marcus Group is proud to announce new initiatives, partnerships, and in-store activations that will further the organization's continued progress against its Environmental Social Governance (ESG) strategy, Our Journey to Revolutionize Impact. "We are on a journey to revolutionize impact, and this includes setting meaningful ESG goals. The fashion industry must take steps toward a commitment to ESG and transparency to consumers, stakeholders, and the government. We are proud to join hands with our brand partners and other organizations to increase awareness and inspire action within our industry. As we move closer to our 2025 goals outlined in our recent ESG report, we look forward to continuing the momentum we've made to minimize the impact of how we serve our clients through our digital channels, stores, and supply chain, as well as the experiences we create and the products we sell." Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group As part of its efforts to reduce Scope 1 & 2 emissions by 50% by 2025 and procure 100% renewable energy use by 2030, this month, NMG partnered with Trane® by Trane Technologies to replace natural gas-powered chillers with two new 500-ton water-cooled Trane® chillers at their iconic Bergdorf Goodman's Women's Store, located in the heart of New York City's famed retail district. This installation utilized innovative, energy-efficient decarbonization technology that enabled the retailer to eliminate natural gas use, electrify the building, and procure a new renewable energy contract to power the store's operations. The move will contribute to New York City's goal of reaching net-zero greenhouse gas emissions by 2050 while keeping shoppers cool and comfortable. Meanwhile, Neiman Marcus stores across the U.S. are driving progress toward the company's goal to partner with customers to raise an additional $3,000,000 for Heart of Neiman Marcus Foundation grantees through point-of-sale (POS) fundraising. In March, the retailer began a POS fundraising campaign for the Fashion Scholarship Fund (FSF) that invites customers and associates to donate in-store and online through April 30. Proceeds from the campaign will fund creating a new NMG x FSF scholarship for students aspiring to careers in sustainable and ethical fashion. The effort has raised enough money to fund at least seven NMG x FSF scholars in the partnership's first year. As NMG seeks to increase revenue from sustainable and ethical products by 2025, it is also proud to announce the upcoming launch of the new 'Fashioned for Change' and 'Conscious Curation' edits at Neiman Marcus and Bergdorf Goodman. These edits will identify items with preferred product attributes made with sustainable materials, including bio-based vegan leathers, as well as products that are responsibly manufactured, give back philanthropically, are made by diverse-owned brands, or promote enhanced transparency through digital product passports from groups like EON. Products from participating brand partners will be highlighted on NeimanMarcus.com and BergdorfGoodman.com and will be considered for exposure in highly visible placements via in-store and digital channels. To explore the new 'Fashioned for Change' edit at Neiman Marcus, visit here. The 'Conscious Curation' edit at Bergdorf Goodman will launch in the upcoming months. NMG will be hosting and sponsoring a variety of speaking events throughout the month to socialize the efforts above with associates, customers, and the broader fashion industry. To build on last year's conversation with Elizabeth Cline, author of 'The Conscious Closet,' NMG is hosting an all-associate event on April 26 with Aja Barber, author of 'Consumed.' This talk will take a deep dive into Barber's book, which explores the intersection of climate change, colonialism, and consumerism in the fashion industry. Customers near Neiman Marcus Northbrook in Chicago will also be invited to attend a panel discussion on social and environmental issues facing the fashion industry and its next generation of talent with industry trailblazer Eileen Fisher and Melissa Gamble, a professor at Columbia College of Chicago – an FSF member school. Finally, to continue educating and amplifying the call for sustainable practices in the broader industry, NMG is excited to sponsor the Women's Wear Daily Sustainability Summit and the Sustainable Fashion Forum fireside chat, which will be held this month. NMG executives will host panels and fireside chats about topics surrounding circularity in fashion, fur and leather alternatives, the role of technology in sustainability, and more, along with innovators in the space from pioneering organizations like FASHIONPHILE, Prota Fiori, and EON. About The Neiman Marcus Group, LLC Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands, Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. We have also set bold 2030 Sustainability Commitments for ourselves and our customers. Through our Gigaton Challenge, we have committed to reducing our customers' carbon emissions by one gigaton or, one billion metric tons by the year 2030. About Trane Trane by Trane Technologies, a global climate innovator – creates comfortable, energy-efficient indoor environments for commercial and residential applications.

Read More

POS Solutions

Rezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments

Rezolve | April 22, 2022

Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally. As part of the agreement, Computop will offer Rezolve’s technology to its more than 15,000 global clients, providing them with new mobile engagement and commerce tools. Rezolve, an enterprise SaaS platform designed from the ground up specifically for mobile commerce and engagement, is positioned to become the engine of mobile engagement that enables the transformation of interactions between consumers and merchants on mobile devices. Computop helps retailers and service providers to process their omnichannel payments securely and conveniently worldwide and was the first payment service provider in Germany, and among the first globally, to obtain PCI P2PE certification, or Point-to-Point Encryption certification. “We are excited to announce this partnership with Computop, a German leader in payment services around the world. This represents a great opportunity for Rezolve to extend our mobile engagement technology to their impressive list of clients around the world.” Dan Wagner, Rezolve’s Chairman and CEO Computop’s large international merchant and global marketplace partners are in industries such as retail, mobility, travel and gaming. Global customers include C&A, Fossil, Metro, Rakuten, Samsung, SIXT and Swarovski. Computop focuses on global omnichannel payment, fraud prevention, global POS, global e-commerce, in-app payments, local payments worldwide, risk management, reconciliation and accounting solutions. "For Computop this is exciting because our business model depends on the success of our customers,” said Ralf Gladis, founder and CEO of Computop. “We believe that our merchants can be more successful if they can reach out to customers with Rezolve. With Rezolve’s mobile technology our merchants will be able to trigger their customers wherever they are.” After buying EOS Payments from Otto Group in 2013, Computop now processes payments for all 100 Otto retail brands. In cooperation with its network of partners, which it has expanded over many years, Computop offers a comprehensive omnichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes. Computop’s Shop modules provide worry-free integration with shop systems like Salesforce/Demandware, SAP hybris, Intershop, Magento, Oxid, Shopware, Spryker, and 20 others. With Rezolve, merchants can lead consumers directly to special offers by using mobile technology including geofencing, notifications on smartphones, Bluetooth beacons, or with watermarked advertisements. Rezolve currently has go-to-market partner agreements with leading global players that have a combined global reach of over 20 million merchants and over 1 billion consumers across China, Asia and Europe. Rezolve’s platform already serves over 196,000 of those merchants today. For Computop customers the partnership means it will be easy to use Rezolve, because their payment processing is already integrated with Rezolve’s technology. Thousands of Computop customers can now easily use Rezolve. Meanwhile, for Rezolve, the Computop Paygate is a payment platform that offers access to more than 60 acquirers worldwide. Therefore, merchants can use their existing acquiring contracts for credit cards. About Rezolve Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices in China, India, Taiwan, Germany, Spain and Mexico. About Computop As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The internally developed Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. Retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

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