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European fashion retail industry takes massive hit as coronavirus pandemic spreads

The fashion retail industry in Italy and France is taking a massive blow as the coronavirus spreads across Europe. The deadly virus that causes Covid-19 has discouraged tourists and buyers from visiting shopping districts and luxury stores. Behind the scenes, global supply chains have also been disrupted, leading industry experts to predict significant losses for fashion brands as a result of the pandemic.

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POS Solutions, Ecommerce Merchandising

Future of Point-of-Sale: Explore Top POS Events for Businesses in 2023

Article | June 7, 2024

Discover cutting-edge innovations, learn about operational efficiencies, and explore ways to enhance customer experiences through modern POS solutions with the most awaited POS events in 2023. As the significance of customer satisfaction, efficient inventory management, and omnichannel experience grew, the adoption of Point-of-Sale (POS) systems has gained significant momentum in the last few years. These advanced systems offer businesses numerous benefits, including enhanced efficiency, real-time data analytics, and seamless integration with other essential operations. With the addition of features, such as time data accessibility, seamless integration with other business operations, enhanced mobility, and automatic software updates, these cloud POS solutions empower businesses to make informed decisions, improve operational efficiency, provide personalized customer experiences, and adapt quickly to changing market demands. To stay at the forefront of this technological revolution and garner the latest insights in the sector, industry professionals and enthusiasts are flocking to various events and conferences dedicated to cloud POS. Here are some of the top payment-related POS conferences for businesses to attend: The Payment & Innovation Forum 2023 November 16-17, 2023 | Budapest (Hungary) The Payment & Innovation Forum 2023 is a premier event that brings together industry leaders, experts, and innovators in the banking and fintech sectors. With a focus on the European Union regulatory landscape, the forum explores the safe and responsible adoption of the latest innovation trends in banking. Speakers, including Javier Santamaría, The Chair of the European Payments Council; Daniela Bobocea, Chief Digital Officer at Digital Banker; and others, will share valuable insights and exchange ideas on the evolving payments landscape. Attendees can expect insightful discussions on topics such as the new era of customer experience, the relationship between fintech and banks, disruptions and digital banking trends, regulation and innovation, instant payment solutions, and the future of EU cybersecurity. Driving the Future of Ecommerce in Asia Pacific October 11-12, 2023 | Marina Bay (Singapore) Driving the Future of Ecommerce in Asia Pacific, eCommerce Expo Asia is back in 2023 for its highly anticipated fourth edition. With an impressive lineup of industry experts, including David Jou, CEO & Co-Founder of Pomelo Fashion; Jay Teo, Head of Point of Sales Business at Shopline; Alexandra Morris, APAC Head of Marketing at BigCommerce; and Jay Jenkins, Global Tech Evangelist at BytePlus, the event will shed light on the latest innovation and highlight game-changing solutions that will propel their ecommerce endeavors forward. Attendees can expect insightful keynote speeches, informative panel discussions, and thought-provoking sessions on the emerging trends and strategies driving the future of ecommerce in the Asia-Pacific region. Advanced E-Commerce & Retail Expo October 25-27, 2023 | Makuhari Messe (Japan) Advanced E-Commerce & Retail Expo is a comprehensive event showcasing a wide range of products and solutions tailored for the retail and ecommerce industries. It focuses on store operations, customer attraction, customer service, and online-offline store connectivity. The POS event presents professionals from various sectors, such as retail, ecommerce, food and service, manufacturing, and management of industries like hotel and leisure, making it a valuable platform to explore cutting-edge solutions that drive business growth. Attendees can expect to connect with industry experts, discover innovative technologies, and gain insights into the latest trends in retail, ecommerce, marketing, logistics, and systems. Los Angeles eCommerce Summit 2024 May 16, 2024 | Los Angeles (California) Los Angeles eCommerce Summit 2024 is a highly anticipated one-day event that brings together a curated group of local eCommerce experts, decision-makers, and industry professionals from the vibrant LA area. The conference is thoughtfully designed to deliver high-impact impressions through panel discussions, presentations, and one-on-one meetings covering a wide range of topics such as eCommerce strategy, marketing, operations, customer experience, payment solutions, shipping logistics, and loyalty programs. With industry leaders and innovators from established retailers and brands as participating speakers, attendees can expect to gain valuable insights, forge meaningful connections, and stay ahead in the ever-evolving eCommerce landscape. Payments Summit February 26-⁠28, 2024 | California (USA) Hosted by Secure Technology Alliance, the 16th annual Payments Summit will be held in conjunction with an Identity Summit, as well as the Winter Member Meeting of the U.S. Payments Forum and Identity Access Forum. Under the theme of ’Smarter Faster Payments,’ the summit showcases renowned keynote speakers Ben Nemtin, no. 1 New York Times bestselling author and Shola Richards, Founder of The Positivity Solution, who will share their invaluable insights on the future of payments. With a focus on enhancing the user experience, improving decision-making, and reinforcing security measures, Smarter Faster Payments is an important industry event for those seeking to stay ahead of the curve and make a meaningful impact in the world of payments. Payments Forum May 6-8, 2024 | Florida (USA) Payments Forum is a premier event where industry experts, leaders, and decision-makers from financial institutions, card issuers, payments processors, merchants, and retailers gather for strategic discussions on revenue growth and product development. This POS event serves as a vital platform for attendees to gain valuable insights into the latest technological advancements, regulatory impacts, and the evolving landscape of consumer behavior. With a focus on innovation, digital transformation, and staying ahead of industry trends, the Payments Forum provides a unique opportunity for professionals to exchange knowledge, explore new options, and drive their organizations toward success in the dynamic payments sector. PAY360 Conference March 19-20, 2024 | London (UK) An essential event, the PAY360 Conference, is where professionals in the payments industry come together to navigate the ever-evolving landscape of the payments ecosystem. With speakers such as Kosta Du, Founder and CEO of Dapio; Charles Damen, Chief Product Officer at Token; and Denise Johansson. Co-CEO and Co-Founder of Enfuce, on the deck, the conference provides a unique platform for networking, collaboration, and knowledge-sharing. Recognizing the growing demand, this POS event has expanded to a larger venue, reflecting its status as the preferred meeting point for forging partnerships, acquiring new customers, and influencing policy. By pushing boundaries and going the extra mile, PAY360 is committed to serving and benefiting the payments community, enabling attendees to stay ahead of the curve and thrive in this dynamic and fast-paced sector. MoneyLIVE Summit March 6-7, 2024 | London (UK) MoneyLIVE Summit, held in the world's FinTech capital, is the premier global event for payments and banking professionals. Bringing together industry leaders at the forefront of their fields, this POS summit serves as the epicenter of ground-breaking partnerships, amplifying innovation, and nurturing the brightest ideas. With five remarkable stages to choose from, attendees can delve into a wide range of topics, including open banking, new revenue models, payments innovation, digital identities, and more. MoneyLIVE Summit provides a unique platform to stay informed, inspired, and connected with the latest trends and advancements shaping the payments and banking landscape, making it an important event for industry professionals seeking to drive success and embrace the future of finance. Smarter Faster Payments 2024 May 6-9, 2024 | Miami (USA) Smarter Faster Payments 2024 is an exceptional industry event that recognizes the transformative power of technology and information in revolutionizing the world of payments. This POS event is dedicated to organizations that are at the forefront of driving innovation, delivering value through groundbreaking solutions and services, and utilizing these advancements to meet their business requirements and engage with customers. With a focus on enhancing the user experience, empowering decision-making processes, and ensuring robust security measures, Smarter Faster Payments offers a unique platform for diverse organizations to come together, share insights, and explore the latest trends and strategies in the payments landscape. Attendees can expect to gain valuable knowledge, establish meaningful connections, and stay ahead of the curve in this dynamic and rapidly evolving industry. CMO in eCommerce Conference - 2023 September 27, 2023 | Online A must-attend event, The CMO in eCommerce Conference - 2023, designed specifically for eCommerce Chief Marketing Officers (CMOs) looking to optimize their online stores and drive business success. This POS conference brings together a panel of experienced eCommerce CMOs who understand the challenges of managing and developing thriving online businesses. With a wealth of knowledge and practical advice to share, these industry experts will provide valuable insights on optimizing store performance, enhancing customer engagement, and boosting sales. Attendees can gain critical insights into the latest trends, platforms, tools, and apps, gaining a competitive edge and making their marketing efforts more effective. The Future of POS The future of Point-of-Sale (POS) is poised for significant transformation through the integration of cloud-based technologies. Attending the top 10 POS conferences in 2023 presents a remarkable opportunity for industry professionals to gain invaluable insights and stay abreast of the latest advancements in this ever-evolving field. These conferences serve as vibrant platforms where retailers, technology providers, and industry enthusiasts can converge, share knowledge, and forge meaningful connections. Attendees can stay ahead of the curve by participating in these events, leveraging the power of cloud-based POS systems to enhance operational efficiency, improve customer experiences, and drive business growth.

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POS Solutions

Card Payments for Dummies

Article | February 15, 2024

At my current company Monizze, we issue social vouchers, like meal, eco and gift vouchers. These vouchers are consumed using a specific Monizze payment card via a physical terminal. As a result, I come into contact with card payments on a daily basis. Unfortunately, I am still far from being a card expert, but along the years I can say I have built up a good basic understanding of how a card payment happens. As I had to collect information from different sources to get this first good understanding, I thought it might be interesting to share my summary for "dummies" of how card payments work. First let us have a look at the card itself. A card is just a plastic carrier on which a design is printed. Afterwards a chip (an embedded microprocessor) is attached to the card, on which 1 or more applications can be deployed. A card with such a chip is often also called a smart card or an EMV card, with EMV an abbreviation for "Europay MasterCard VISA", which are the 3 companies that originally established this global electronic transaction standard. A card does not need to have a chip, some cards only have a bar code or QR code on them, while others have a magnetic stripe. Obviously an EMV chip card is more secure than those other models. Most EMV chip cards today are Dual Interface chip cards. This means the card can be used in both contact (i.e. the card is put in the terminal to read the chip) and contactless (i.e. the card communicates via an NFC antenna with the terminal) mode. This should not be confused with co-branded / co-badged cards, which exist quite a lot in Europe. As many countries still have their local payment method (like Bancontact in Belgium, Girocard in Germany, Cartes Bancaires in France, PagoBancomat in Italy, MultiBanco in Portugal…), most banks in those countries issue such a co-badged card, which supports both this local payment method and a more international payment method. E.g. in Belgium almost all debit cards are co-badged with Bancontact and Maestro (Maestro being an international payment method owned by MasterCard). When fabrication of EMV chip cards starts, all cards are the same. Of course by printing the design on the card and personalizing the card (with the name, card number…) you get a specific card. Additionally there is a personalization of the EMV chip. On the chip the specific application(s) of the card is deployed, as well as the specific personal information. This personal information stored on the card consists of the card number (also called the PAN number = Primary Account number), the expiration date, a security code (also called CVV = Card Verification Value or CVC = Card Verification Code), a number of cryptographic keys and the list of CVM checks (CVM = Card Verification Methods). This list indicates which type of security check should be applied and can depend on the type of payment (e.g. contact versus contactless), what the terminal supports and the amount. E.g. the CVM list can indicate that a contactless transaction can be executed up to 50 EUR without asking for a PIN. The cryptographic keys ensure the necessary security. E.g. they are used to calculate a cryptogram (based on one of the stored secret keys and the info of the transaction), which is sent along to the issuer. The issuer can then verify that the transaction message was not altered along the way by calculating itself the cryptogram and comparing it with the provided cryptogram. In the same way, it is possible to encrypt a PIN code and send it to the issuer for verification. The PIN code can be stored on the chip and verified by the chip directly. This so-called PIN offline verification is however only possible when the chip can be read by the terminal. In case of a contactless transaction requiring a PIN, card issuers usually work with PIN online, which means the PIN is sent in an encrypted way to the issuer, who verifies the correctness of the PIN, before authorizing the transaction. The information on the chip of a card can also be virtualized. This means that instead of the card sending the NFC signal (in contactless mode) to the terminal, it is also possible that your smartphone sends out this signal (and emulates the card). This can be a specific app, using HCE (= Host Card Emulation), but this technique is only available on Android phones, as Apple does not give access to the NFC antenna. A more common technique is of course Apple Pay and Google Pay, where you onboard your card on the Apple/Google infrastructure and your smartphone emulates the physical card. Now that we have clarified what the card does, it is good to have a look at how a payment works. The first step is of course telling the terminal (POS = Point of Sales terminal) how much the customer needs to pay. This can be inputted directly on the terminal, but large retailers have of course an integration with their cash register (= ECR = Electronic Cash Register). This integration allows to pass immediately info like the amount, which card types can be accepted (cashier can select a specific payment method) and potential other reference information. Obviously, a lot of cash register systems exist (e.g. Lightspeed, Square, Casio, Toshiba…) and also a lot of protocols to integrate ECRs with terminals (e.g. VIC protocol) and finally also a lot of different terminals (e.g. Wordline, Ingenico, CCV, Adyen, SumUp, VIVA Wallet, Cetrel, Loyaltek…). All these differences make those integrations quite a mess. The terminal will then read the card (contact or contactless) and determine which verification methods need to be applied. Once the verifications on the terminal are ok, the payment is sent to the Acquirer (often the merchant’s bank), which sends the payment to the Issuer (usually the bank of the card holder, which issued the card). This Issuer validates if the card is still active, if the PIN code is correct (in case of PIN online), if the customer is allowed to do a transaction at this merchant (e.g. card might be disabled for foreign transactions) and whether the customer has sufficient funds to execute the payment. In case of a positive reply, the payment is considered as successful, even though the actual settlement will usually happen later. This settlement consists of the acquirer requesting payment to the issuing bank, the issuing bank debiting the cardholder’s account and transmitting the money to the acquirer bank and the acquirer bank crediting the merchant’s account.the cardholder’s account and transmitting the money to the acquirer bank and the acquirer bank crediting the merchant’s account. For the communication between the terminal, acquirer and issuer a "Payment Network", like VISA, MasterCard, American Express, UnionPay, Bancontact… is used. This payment network sets all the rules of how these different players should interact. Additionally there are multiple protocols of how terminals can communicate with the Acquirer, like CTAP, EP2, Nexo (EPAS), IFSF, STD70, ABI-CB (Italy)…, making it for international players very hard to support all local payment methods. It is also important to understand the difference between a "Four Corner model" (also called a Four-Party scheme, Open Scheme or Open Loop payment model) and a "Three Corner Model" (also called a Three-Party scheme, Closed Scheme and Closed loop payment model). The first model is the model described above and is the most widely used. E.g. VISA, MasterCard and UnionPay use this model. In the second model ("Three Corner Model"), the issuer, acquirer and payment network are the same party. This means the payment network provides the card to the card holder and contracts with the merchant to configure/setup the terminal. Typical examples are Diners Club, Discover Card and American Express, but often also niche payment methods, like the social vouchers (e.g. meal voucher payments) of Monizze fall in this category (even though in many countries, social vouchers are also handled via an "Open Loop" model based on VISA or MasterCard). As you can see a card payment involves a large number of parties. While cash registers and terminals are bought or rented by merchants and typically include also a monthly service fee, the other players are usually paid per transaction. The Acquirer will recover those transaction fees from the merchant through a "Merchant service charge". The Acquirer however keeps only a small part of this fee, as around 20% of this fee (the so-called scheme fee) is going to the payment network (e.g. VISA or MasterCard) and up to 70% (the so-called interchange fee) to the Issuer. Part of this interchange fee is often used in the form of rewards (e.g. cashbacks) to the customer, thus encouraging the card holder to use his card as much as possible. Card payments are clearly undergoing a major transformation. On the one hand, there is a strong push towards a cashless society. This trend, strongly accelerated by the Covid crisis, increases the use of card payments. On the other hand, there is a trend to replace the physical cards by payments with smartphones. This includes the exponential rise of the use of Apple Pay and Google Pay, but also new payment techniques, often based on QR code scanning (like e.g. Payconiq in Belgium). Additionally due to the aggressive take-over strategy of the 2 major American players (VISA and MasterCard) in the last decade, there is a strong feeling, especially in Europe, that there is need for more competition and a new European player. As a result, several large European banks are joining forces to create a European alternative. It is however doubtful that this new initiative will be successful, as new technologies and payment methods, like PSD2 Payment Initiation, SEPA Request to Pay (SRTP), instant payments, CBDCs… can likely give better (more frictionless and cheaper) alternatives to the traditional card payment schemes.

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Ecommerce Merchandising

5 Shopify Alternatives in 2020-21 that Make Ecommerce Simple for Beginners

Article | March 18, 2024

In 2004, Tobias Lutke, Daniel Weinand, and Scott Luke established an online website to sell snowboards. They tried a bunch of online store builders but were not satisfied with the status quo. So, they decided to build a tool that could operate their website. Soon, they realized that the tool was more powerful than the website's business. And hence, Shopify was born. Eventually, Shopify became one of the largest eCommerce store builders in the world. By 2009, the company had $100 million in sales and decided to launch its own API as well as an app store. More than a decade later, Shopify is now supporting over 800,000 stores globally and is a $125 billion company. While the company has shown remarkable growth in its business, it would be ignorant to say the market's needs have been fulfilled by the Shopify platform. Shopify's eCommerce platform works for a lot of businesses, but that does not mean it will work for every business. Here is why Shopify is Not the Right Fit for Every Business: Shopify's growth over the years shows that the company has taken several steps to address the market's inherent needs. However, the presence of several other companies and the issues still faced by merchants show some significant gaps in Shopify's offerings: 1. Cost of Setting Up: Each price-point offers a fixed set of features and functionalities. If you want anything over and above that, you will have to buy the subsequent package. For instance – something as conventional as a Gift Card is not available in the $29 per month package; to get it activated, pay as much as $299 per month. 2. Cost of Operations: The additional functionalities and features cost extra in your package. Even basic features like transaction or credit card processing attract an additional fee. To add to that, you have to purchase the app to activate the feature from the Shopify app store. Even though some apps are free, the apps that offer maximum value tend to cost north of $39.99 per month. 3. Limited and Expensive Themes: The entire Shopify store has a total of 73 themes, with the prices going as high as $180 a theme. This means that as a merchant, even after paying the high price, you may end up with an eCommerce platform that hardly stands out from the crowd. In short, while Shopify was started with great intentions, the cost of using it has started outweighing the probable value it has to offer. This issue gets further highlighted when one starts looking at the Shopify alternatives. Best Alternatives of Shopify While Shopify suits the needs of a certain set of merchants, here are the alternatives that can suit the merchants looking for more tailored, affordable, or customizable solutions: 1. Quick eSelling Quick eSelling is one of the most affordable and easy to deploy ecommerce store builder among the Shopify alternatives. It can be deployed in under 10 minutes for the basic variant. Its free variant has some prolific features like a native Android app, responsive website, and a catalog that can support up to 1000 products. The free package requires a 5% transaction fee, which gets eliminated the moment you upgrade to a paid plan. All the paid plans have a fixed monthly fee and no setup costs. The list of standard features includes a wide set of functionalities like customizable web-store themes, SMS & Email marketing, comprehensive payment gateway integrations, detailed analytics reports, inventory management systems, social media plugins, discount coupon codes, and even live chat. The premium package which costs around 50% the price of the $299 Shopify package, comes with a dedicated account manager and enterprise-level integrations. Ideal for: Merchants who are seeking an affordable, easily usable, and quickly deployable solution. 2. WooCommerce WooCommerce is popularly considered one of the most preferred alternatives for Shopify. It is quite convenient for website owners as it is a plugin for WordPress. Unlike other tools in the list, WooCommerce is designed to make WordPress sites work as functional eCommerce platforms. And in that particular aspect, it does a great job. However, if you are not already using an established WordPress site with high traffic, running WooCommerce can become quite expensive. On average, a website owner has to spend as much as $1000 in setting up a WooCommerce store with a moderate degree of customization. Even if you are not customizing a lot, running a WooCommerce store can cost you as much as $150 in a month. This would cover your hosting, themes, shipping plugins, security, and SEO. You will pay additional 2.9% + $0.30 per transaction. Ideal for: Someone who has a successful WordPress website and now wants to convert it into an eCommerce store. 3. Yo!Kart: Yo!Kart is a popular self-hosted multi-vendor platform for building online marketplaces. Unlike Shopify, it is a standalone platform that comes with a lifetime license and rich ecommerce features. The platform is fully customizable and scalable. Yo!Kart packages start from $999 and every package comes with a 1-year free technical support, free installation, and full source code. There are no monthly or yearly recurring fees. Considering it is a comprehensive platform, you may need some technical training to understand the system. Ideal for: Business owners who want to start ecommerce websites like Amazon or ebay where multiple sellers are selling under the same roof. 4. PrestaShop PrestaShop runs on the basic premise that creating an online eCommerce store should be an affordable exercise for any merchant. That is the reason why it is available for free and comes without any additional monthly fees. Its features include eCommerce functionalities like CRM & Email Marketing, Inventory Management, Multi-Store Management, and SEO Management. You can get a basic eCommerce store running by paying the registration fee for the domain and the hosting fee dues. While this may seem like a great alternative, given the fact that it is practically free, there is one major caveat – you cannot deploy or personalize your PrestaShop eCommerce store unless you know how to code. The entire platform has been designed, keeping in mind people who can code at professional levels of proficiency. The cost of hiring a developer who can add features to your store or modify the theme can be very costly. In addition to this, some basic features like promotions & reviews management, data security, and mobile access are not available on the platform. Ideal for: The merchants who have access to programming talent and don't mind a basic eCommerce store. 5. Wix Wix became popular as an online website builder. It also offers interesting eCommerce functionalities. For as low as $35 a year, you can have the Business Basic package that comes with a free year of using the domain, analytics reports, and 20 GB of storage. If you want greater control of your eCommerce platform but are not a professional programmer and are not interested in hiring one, Wix can be a great alternative. Its most expensive package costs about $80 a year. It comes with features like email marketing, SEO management, inventory management, data security, and promotions management. The challenge is – most of the charges marketed by Wix are very affordable for the first year in operations. After a year, many of these features, like the domain, will become payable elements. This way as soon as the first year of your operations is over, your cost of running the eCommerce platform will dramatically go up. Ideal for: Merchants who want to have greater control of their website's design without the need for coding skills and those who want the first year of operations to be largely affordable. Conclusion: Shopify can work for you if you are seeking a limited set of features. However, for lesser price-points, the alternatives for Shopify offer great functionalities. Quick eSelling is good for cost-effective and rapidly deployable eCommerce websites that come loaded with native features. WooCommerce is a viable option if you have a WordPress site and want to convert it into an eCommerce store. Yo!Kart specializes in building multi-vendor marketplaces. PrestaShop can be handy and very budget-friendly if you have access to coding talent. And Wix is good if you want greater control over what your store looks like, without getting into the programming aspects.

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POS Retail

Top Reasons Businesses Choose Cloud-based POS Systems

Article | May 20, 2022

Digital innovations make a significant impact on the payment business. Point-of-sale is one such innovation that eases the payment mode. Traditional POS systems face several obstacles, such as data storage on local servers, higher upfront payments, limited access to the data, and higher costs. On the contrary, a cloud-based POS system is easier and offers more agility and access, making the payment process seamless and less time taking. Customer expectations are constantly changing regarding seamless online and offline payment processes. Cloud-based POS systems ensure the best possible customer experience while staying relevant to the rapidly evolving technology. Making the lives of the customers easier is the primary goal of the payment service provider. Deciding Between Getting a Traditional or A Cloud-Based POS System? POS software has improved over the past decade, and many firms have hopped on the POS system bandwagon. There are different types of POS systems available, and you may get confused, especially if you are new to POS. Purchasing a POS system is a long-term investment and should not be made without extensive research and knowledge. It would be best to compare the pros and cons of traditional and cloud-based POS options. Identify your business's needs and select the right POS system. On-site or existing POS is an old method. The data is stored on local servers and in closed networks. It is commonly known that standard POS systems can be complex and time-consuming. Also, installing large hardware adds to the cost of getting started. If you use older methods, you might be able to access data on-site, but you could lose it. A cloud-based POS is easy to use and easy to get to. The cloud-based POS system is adaptable and can easily add new modules or apps from other corporates. The software is rented by the month or year. Methods that use the cloud allow mobile access which means you can leverage the functionality of mobile POS without fully implementing a mobile POS system. POS software that runs in the cloud is also automatically backed up. Cloud-based POS software offers incredible benefits for your business. Reasons for Opting for a Cloud-based POS System Cloud POS Systems Are More Secure A cloud-based POS system lowers all types of risks due to stringent security standards. Cloud technology allows the POS software to automatically backup the data and sync via remote servers. The regular updating of the system increases the security level of the software. Remote System Access Switching to a cloud-based POS system allows you to access your back-office functionality from anywhere. This capability gives you the ability to receive important updates regarding inventory or vendor issues on your mobile or home computer. You will also benefit from the security of cloud backup for your data. Cost-effective Cloud-based POS may appear to be more expensive than conventional POS systems. Nevertheless, cloud-based technologies are preferable for SMBs. In contrast to traditional POS systems, cloud-based SaaS has no upfront costs and has low monthly rates. Automatic software updates are delivered, and the system can update itself. Better Customer Service Cloud POS is compatible with various payment options and can send invoices through email or SMS. This enhances the purchase experience for your brand's customers. Customers interested in simple technology like simple processes are thus satisfied with the commercial services a POS system delivers. By choosing a cloud-based POS system, you'll always be able to meet customer needs quickly. Also, remember that you can get updates, which are meant to change some features to fit how people use them. Conclusion We’ve seen a few reasons that why you should consider transitioning to a cloud-based point-of-sale system, but the list is unlimited. If you have not considered implementing a point-of-sale system, now is the time to do so. The most prominent upside is that a sound POS system facilitates sales and increases the capacity to attract more clients.

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POS Solutions, Ecommerce Merchandising

Driving Success with Localization of Global E-commerce Platforms

Article | June 7, 2024

Discover cutting-edge innovations, learn about operational efficiencies, and explore ways to enhance customer experiences through modern POS solutions with the most awaited POS events in 2023. As the significance of customer satisfaction, efficient inventory management, and omnichannel experience grew, the adoption of Point-of-Sale (POS) systems has gained significant momentum in the last few years. These advanced systems offer businesses numerous benefits, including enhanced efficiency, real-time data analytics, and seamless integration with other essential operations. With the addition of features, such as time data accessibility, seamless integration with other business operations, enhanced mobility, and automatic software updates, these cloud POS solutions empower businesses to make informed decisions, improve operational efficiency, provide personalized customer experiences, and adapt quickly to changing market demands. To stay at the forefront of this technological revolution and garner the latest insights in the sector, industry professionals and enthusiasts are flocking to various events and conferences dedicated to cloud POS. Here are some of the top payment-related POS conferences for businesses to attend: The Payment & Innovation Forum 2023 November 16-17, 2023 | Budapest (Hungary) The Payment & Innovation Forum 2023 is a premier event that brings together industry leaders, experts, and innovators in the banking and fintech sectors. With a focus on the European Union regulatory landscape, the forum explores the safe and responsible adoption of the latest innovation trends in banking. Speakers, including Javier Santamaría, The Chair of the European Payments Council; Daniela Bobocea, Chief Digital Officer at Digital Banker; and others, will share valuable insights and exchange ideas on the evolving payments landscape. Attendees can expect insightful discussions on topics such as the new era of customer experience, the relationship between fintech and banks, disruptions and digital banking trends, regulation and innovation, instant payment solutions, and the future of EU cybersecurity. Driving the Future of Ecommerce in Asia Pacific October 11-12, 2023 | Marina Bay (Singapore) Driving the Future of Ecommerce in Asia Pacific, eCommerce Expo Asia is back in 2023 for its highly anticipated fourth edition. With an impressive lineup of industry experts, including David Jou, CEO & Co-Founder of Pomelo Fashion; Jay Teo, Head of Point of Sales Business at Shopline; Alexandra Morris, APAC Head of Marketing at BigCommerce; and Jay Jenkins, Global Tech Evangelist at BytePlus, the event will shed light on the latest innovation and highlight game-changing solutions that will propel their ecommerce endeavors forward. Attendees can expect insightful keynote speeches, informative panel discussions, and thought-provoking sessions on the emerging trends and strategies driving the future of ecommerce in the Asia-Pacific region. Advanced E-Commerce & Retail Expo October 25-27, 2023 | Makuhari Messe (Japan) Advanced E-Commerce & Retail Expo is a comprehensive event showcasing a wide range of products and solutions tailored for the retail and ecommerce industries. It focuses on store operations, customer attraction, customer service, and online-offline store connectivity. The POS event presents professionals from various sectors, such as retail, ecommerce, food and service, manufacturing, and management of industries like hotel and leisure, making it a valuable platform to explore cutting-edge solutions that drive business growth. Attendees can expect to connect with industry experts, discover innovative technologies, and gain insights into the latest trends in retail, ecommerce, marketing, logistics, and systems. Los Angeles eCommerce Summit 2024 May 16, 2024 | Los Angeles (California) Los Angeles eCommerce Summit 2024 is a highly anticipated one-day event that brings together a curated group of local eCommerce experts, decision-makers, and industry professionals from the vibrant LA area. The conference is thoughtfully designed to deliver high-impact impressions through panel discussions, presentations, and one-on-one meetings covering a wide range of topics such as eCommerce strategy, marketing, operations, customer experience, payment solutions, shipping logistics, and loyalty programs. With industry leaders and innovators from established retailers and brands as participating speakers, attendees can expect to gain valuable insights, forge meaningful connections, and stay ahead in the ever-evolving eCommerce landscape. Payments Summit February 26-⁠28, 2024 | California (USA) Hosted by Secure Technology Alliance, the 16th annual Payments Summit will be held in conjunction with an Identity Summit, as well as the Winter Member Meeting of the U.S. Payments Forum and Identity Access Forum. Under the theme of ’Smarter Faster Payments,’ the summit showcases renowned keynote speakers Ben Nemtin, no. 1 New York Times bestselling author and Shola Richards, Founder of The Positivity Solution, who will share their invaluable insights on the future of payments. With a focus on enhancing the user experience, improving decision-making, and reinforcing security measures, Smarter Faster Payments is an important industry event for those seeking to stay ahead of the curve and make a meaningful impact in the world of payments. Payments Forum May 6-8, 2024 | Florida (USA) Payments Forum is a premier event where industry experts, leaders, and decision-makers from financial institutions, card issuers, payments processors, merchants, and retailers gather for strategic discussions on revenue growth and product development. This POS event serves as a vital platform for attendees to gain valuable insights into the latest technological advancements, regulatory impacts, and the evolving landscape of consumer behavior. With a focus on innovation, digital transformation, and staying ahead of industry trends, the Payments Forum provides a unique opportunity for professionals to exchange knowledge, explore new options, and drive their organizations toward success in the dynamic payments sector. PAY360 Conference March 19-20, 2024 | London (UK) An essential event, the PAY360 Conference, is where professionals in the payments industry come together to navigate the ever-evolving landscape of the payments ecosystem. With speakers such as Kosta Du, Founder and CEO of Dapio; Charles Damen, Chief Product Officer at Token; and Denise Johansson. Co-CEO and Co-Founder of Enfuce, on the deck, the conference provides a unique platform for networking, collaboration, and knowledge-sharing. Recognizing the growing demand, this POS event has expanded to a larger venue, reflecting its status as the preferred meeting point for forging partnerships, acquiring new customers, and influencing policy. By pushing boundaries and going the extra mile, PAY360 is committed to serving and benefiting the payments community, enabling attendees to stay ahead of the curve and thrive in this dynamic and fast-paced sector. MoneyLIVE Summit March 6-7, 2024 | London (UK) MoneyLIVE Summit, held in the world's FinTech capital, is the premier global event for payments and banking professionals. Bringing together industry leaders at the forefront of their fields, this POS summit serves as the epicenter of ground-breaking partnerships, amplifying innovation, and nurturing the brightest ideas. With five remarkable stages to choose from, attendees can delve into a wide range of topics, including open banking, new revenue models, payments innovation, digital identities, and more. MoneyLIVE Summit provides a unique platform to stay informed, inspired, and connected with the latest trends and advancements shaping the payments and banking landscape, making it an important event for industry professionals seeking to drive success and embrace the future of finance. Smarter Faster Payments 2024 May 6-9, 2024 | Miami (USA) Smarter Faster Payments 2024 is an exceptional industry event that recognizes the transformative power of technology and information in revolutionizing the world of payments. This POS event is dedicated to organizations that are at the forefront of driving innovation, delivering value through groundbreaking solutions and services, and utilizing these advancements to meet their business requirements and engage with customers. With a focus on enhancing the user experience, empowering decision-making processes, and ensuring robust security measures, Smarter Faster Payments offers a unique platform for diverse organizations to come together, share insights, and explore the latest trends and strategies in the payments landscape. Attendees can expect to gain valuable knowledge, establish meaningful connections, and stay ahead of the curve in this dynamic and rapidly evolving industry. CMO in eCommerce Conference - 2023 September 27, 2023 | Online A must-attend event, The CMO in eCommerce Conference - 2023, designed specifically for eCommerce Chief Marketing Officers (CMOs) looking to optimize their online stores and drive business success. This POS conference brings together a panel of experienced eCommerce CMOs who understand the challenges of managing and developing thriving online businesses. With a wealth of knowledge and practical advice to share, these industry experts will provide valuable insights on optimizing store performance, enhancing customer engagement, and boosting sales. Attendees can gain critical insights into the latest trends, platforms, tools, and apps, gaining a competitive edge and making their marketing efforts more effective. The Future of POS The future of Point-of-Sale (POS) is poised for significant transformation through the integration of cloud-based technologies. Attending the top 10 POS conferences in 2023 presents a remarkable opportunity for industry professionals to gain invaluable insights and stay abreast of the latest advancements in this ever-evolving field. These conferences serve as vibrant platforms where retailers, technology providers, and industry enthusiasts can converge, share knowledge, and forge meaningful connections. Attendees can stay ahead of the curve by participating in these events, leveraging the power of cloud-based POS systems to enhance operational efficiency, improve customer experiences, and drive business growth.

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POS Solutions

Streamlining Product Catalogs: Best PIM Software Unveiled

Article | February 15, 2024

At my current company Monizze, we issue social vouchers, like meal, eco and gift vouchers. These vouchers are consumed using a specific Monizze payment card via a physical terminal. As a result, I come into contact with card payments on a daily basis. Unfortunately, I am still far from being a card expert, but along the years I can say I have built up a good basic understanding of how a card payment happens. As I had to collect information from different sources to get this first good understanding, I thought it might be interesting to share my summary for "dummies" of how card payments work. First let us have a look at the card itself. A card is just a plastic carrier on which a design is printed. Afterwards a chip (an embedded microprocessor) is attached to the card, on which 1 or more applications can be deployed. A card with such a chip is often also called a smart card or an EMV card, with EMV an abbreviation for "Europay MasterCard VISA", which are the 3 companies that originally established this global electronic transaction standard. A card does not need to have a chip, some cards only have a bar code or QR code on them, while others have a magnetic stripe. Obviously an EMV chip card is more secure than those other models. Most EMV chip cards today are Dual Interface chip cards. This means the card can be used in both contact (i.e. the card is put in the terminal to read the chip) and contactless (i.e. the card communicates via an NFC antenna with the terminal) mode. This should not be confused with co-branded / co-badged cards, which exist quite a lot in Europe. As many countries still have their local payment method (like Bancontact in Belgium, Girocard in Germany, Cartes Bancaires in France, PagoBancomat in Italy, MultiBanco in Portugal…), most banks in those countries issue such a co-badged card, which supports both this local payment method and a more international payment method. E.g. in Belgium almost all debit cards are co-badged with Bancontact and Maestro (Maestro being an international payment method owned by MasterCard). When fabrication of EMV chip cards starts, all cards are the same. Of course by printing the design on the card and personalizing the card (with the name, card number…) you get a specific card. Additionally there is a personalization of the EMV chip. On the chip the specific application(s) of the card is deployed, as well as the specific personal information. This personal information stored on the card consists of the card number (also called the PAN number = Primary Account number), the expiration date, a security code (also called CVV = Card Verification Value or CVC = Card Verification Code), a number of cryptographic keys and the list of CVM checks (CVM = Card Verification Methods). This list indicates which type of security check should be applied and can depend on the type of payment (e.g. contact versus contactless), what the terminal supports and the amount. E.g. the CVM list can indicate that a contactless transaction can be executed up to 50 EUR without asking for a PIN. The cryptographic keys ensure the necessary security. E.g. they are used to calculate a cryptogram (based on one of the stored secret keys and the info of the transaction), which is sent along to the issuer. The issuer can then verify that the transaction message was not altered along the way by calculating itself the cryptogram and comparing it with the provided cryptogram. In the same way, it is possible to encrypt a PIN code and send it to the issuer for verification. The PIN code can be stored on the chip and verified by the chip directly. This so-called PIN offline verification is however only possible when the chip can be read by the terminal. In case of a contactless transaction requiring a PIN, card issuers usually work with PIN online, which means the PIN is sent in an encrypted way to the issuer, who verifies the correctness of the PIN, before authorizing the transaction. The information on the chip of a card can also be virtualized. This means that instead of the card sending the NFC signal (in contactless mode) to the terminal, it is also possible that your smartphone sends out this signal (and emulates the card). This can be a specific app, using HCE (= Host Card Emulation), but this technique is only available on Android phones, as Apple does not give access to the NFC antenna. A more common technique is of course Apple Pay and Google Pay, where you onboard your card on the Apple/Google infrastructure and your smartphone emulates the physical card. Now that we have clarified what the card does, it is good to have a look at how a payment works. The first step is of course telling the terminal (POS = Point of Sales terminal) how much the customer needs to pay. This can be inputted directly on the terminal, but large retailers have of course an integration with their cash register (= ECR = Electronic Cash Register). This integration allows to pass immediately info like the amount, which card types can be accepted (cashier can select a specific payment method) and potential other reference information. Obviously, a lot of cash register systems exist (e.g. Lightspeed, Square, Casio, Toshiba…) and also a lot of protocols to integrate ECRs with terminals (e.g. VIC protocol) and finally also a lot of different terminals (e.g. Wordline, Ingenico, CCV, Adyen, SumUp, VIVA Wallet, Cetrel, Loyaltek…). All these differences make those integrations quite a mess. The terminal will then read the card (contact or contactless) and determine which verification methods need to be applied. Once the verifications on the terminal are ok, the payment is sent to the Acquirer (often the merchant’s bank), which sends the payment to the Issuer (usually the bank of the card holder, which issued the card). This Issuer validates if the card is still active, if the PIN code is correct (in case of PIN online), if the customer is allowed to do a transaction at this merchant (e.g. card might be disabled for foreign transactions) and whether the customer has sufficient funds to execute the payment. In case of a positive reply, the payment is considered as successful, even though the actual settlement will usually happen later. This settlement consists of the acquirer requesting payment to the issuing bank, the issuing bank debiting the cardholder’s account and transmitting the money to the acquirer bank and the acquirer bank crediting the merchant’s account.the cardholder’s account and transmitting the money to the acquirer bank and the acquirer bank crediting the merchant’s account. For the communication between the terminal, acquirer and issuer a "Payment Network", like VISA, MasterCard, American Express, UnionPay, Bancontact… is used. This payment network sets all the rules of how these different players should interact. Additionally there are multiple protocols of how terminals can communicate with the Acquirer, like CTAP, EP2, Nexo (EPAS), IFSF, STD70, ABI-CB (Italy)…, making it for international players very hard to support all local payment methods. It is also important to understand the difference between a "Four Corner model" (also called a Four-Party scheme, Open Scheme or Open Loop payment model) and a "Three Corner Model" (also called a Three-Party scheme, Closed Scheme and Closed loop payment model). The first model is the model described above and is the most widely used. E.g. VISA, MasterCard and UnionPay use this model. In the second model ("Three Corner Model"), the issuer, acquirer and payment network are the same party. This means the payment network provides the card to the card holder and contracts with the merchant to configure/setup the terminal. Typical examples are Diners Club, Discover Card and American Express, but often also niche payment methods, like the social vouchers (e.g. meal voucher payments) of Monizze fall in this category (even though in many countries, social vouchers are also handled via an "Open Loop" model based on VISA or MasterCard). As you can see a card payment involves a large number of parties. While cash registers and terminals are bought or rented by merchants and typically include also a monthly service fee, the other players are usually paid per transaction. The Acquirer will recover those transaction fees from the merchant through a "Merchant service charge". The Acquirer however keeps only a small part of this fee, as around 20% of this fee (the so-called scheme fee) is going to the payment network (e.g. VISA or MasterCard) and up to 70% (the so-called interchange fee) to the Issuer. Part of this interchange fee is often used in the form of rewards (e.g. cashbacks) to the customer, thus encouraging the card holder to use his card as much as possible. Card payments are clearly undergoing a major transformation. On the one hand, there is a strong push towards a cashless society. This trend, strongly accelerated by the Covid crisis, increases the use of card payments. On the other hand, there is a trend to replace the physical cards by payments with smartphones. This includes the exponential rise of the use of Apple Pay and Google Pay, but also new payment techniques, often based on QR code scanning (like e.g. Payconiq in Belgium). Additionally due to the aggressive take-over strategy of the 2 major American players (VISA and MasterCard) in the last decade, there is a strong feeling, especially in Europe, that there is need for more competition and a new European player. As a result, several large European banks are joining forces to create a European alternative. It is however doubtful that this new initiative will be successful, as new technologies and payment methods, like PSD2 Payment Initiation, SEPA Request to Pay (SRTP), instant payments, CBDCs… can likely give better (more frictionless and cheaper) alternatives to the traditional card payment schemes.

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Ecommerce Merchandising

Ecommerce Merchandising Strategy for Peak Sales Results

Article | March 18, 2024

In 2004, Tobias Lutke, Daniel Weinand, and Scott Luke established an online website to sell snowboards. They tried a bunch of online store builders but were not satisfied with the status quo. So, they decided to build a tool that could operate their website. Soon, they realized that the tool was more powerful than the website's business. And hence, Shopify was born. Eventually, Shopify became one of the largest eCommerce store builders in the world. By 2009, the company had $100 million in sales and decided to launch its own API as well as an app store. More than a decade later, Shopify is now supporting over 800,000 stores globally and is a $125 billion company. While the company has shown remarkable growth in its business, it would be ignorant to say the market's needs have been fulfilled by the Shopify platform. Shopify's eCommerce platform works for a lot of businesses, but that does not mean it will work for every business. Here is why Shopify is Not the Right Fit for Every Business: Shopify's growth over the years shows that the company has taken several steps to address the market's inherent needs. However, the presence of several other companies and the issues still faced by merchants show some significant gaps in Shopify's offerings: 1. Cost of Setting Up: Each price-point offers a fixed set of features and functionalities. If you want anything over and above that, you will have to buy the subsequent package. For instance – something as conventional as a Gift Card is not available in the $29 per month package; to get it activated, pay as much as $299 per month. 2. Cost of Operations: The additional functionalities and features cost extra in your package. Even basic features like transaction or credit card processing attract an additional fee. To add to that, you have to purchase the app to activate the feature from the Shopify app store. Even though some apps are free, the apps that offer maximum value tend to cost north of $39.99 per month. 3. Limited and Expensive Themes: The entire Shopify store has a total of 73 themes, with the prices going as high as $180 a theme. This means that as a merchant, even after paying the high price, you may end up with an eCommerce platform that hardly stands out from the crowd. In short, while Shopify was started with great intentions, the cost of using it has started outweighing the probable value it has to offer. This issue gets further highlighted when one starts looking at the Shopify alternatives. Best Alternatives of Shopify While Shopify suits the needs of a certain set of merchants, here are the alternatives that can suit the merchants looking for more tailored, affordable, or customizable solutions: 1. Quick eSelling Quick eSelling is one of the most affordable and easy to deploy ecommerce store builder among the Shopify alternatives. It can be deployed in under 10 minutes for the basic variant. Its free variant has some prolific features like a native Android app, responsive website, and a catalog that can support up to 1000 products. The free package requires a 5% transaction fee, which gets eliminated the moment you upgrade to a paid plan. All the paid plans have a fixed monthly fee and no setup costs. The list of standard features includes a wide set of functionalities like customizable web-store themes, SMS & Email marketing, comprehensive payment gateway integrations, detailed analytics reports, inventory management systems, social media plugins, discount coupon codes, and even live chat. The premium package which costs around 50% the price of the $299 Shopify package, comes with a dedicated account manager and enterprise-level integrations. Ideal for: Merchants who are seeking an affordable, easily usable, and quickly deployable solution. 2. WooCommerce WooCommerce is popularly considered one of the most preferred alternatives for Shopify. It is quite convenient for website owners as it is a plugin for WordPress. Unlike other tools in the list, WooCommerce is designed to make WordPress sites work as functional eCommerce platforms. And in that particular aspect, it does a great job. However, if you are not already using an established WordPress site with high traffic, running WooCommerce can become quite expensive. On average, a website owner has to spend as much as $1000 in setting up a WooCommerce store with a moderate degree of customization. Even if you are not customizing a lot, running a WooCommerce store can cost you as much as $150 in a month. This would cover your hosting, themes, shipping plugins, security, and SEO. You will pay additional 2.9% + $0.30 per transaction. Ideal for: Someone who has a successful WordPress website and now wants to convert it into an eCommerce store. 3. Yo!Kart: Yo!Kart is a popular self-hosted multi-vendor platform for building online marketplaces. Unlike Shopify, it is a standalone platform that comes with a lifetime license and rich ecommerce features. The platform is fully customizable and scalable. Yo!Kart packages start from $999 and every package comes with a 1-year free technical support, free installation, and full source code. There are no monthly or yearly recurring fees. Considering it is a comprehensive platform, you may need some technical training to understand the system. Ideal for: Business owners who want to start ecommerce websites like Amazon or ebay where multiple sellers are selling under the same roof. 4. PrestaShop PrestaShop runs on the basic premise that creating an online eCommerce store should be an affordable exercise for any merchant. That is the reason why it is available for free and comes without any additional monthly fees. Its features include eCommerce functionalities like CRM & Email Marketing, Inventory Management, Multi-Store Management, and SEO Management. You can get a basic eCommerce store running by paying the registration fee for the domain and the hosting fee dues. While this may seem like a great alternative, given the fact that it is practically free, there is one major caveat – you cannot deploy or personalize your PrestaShop eCommerce store unless you know how to code. The entire platform has been designed, keeping in mind people who can code at professional levels of proficiency. The cost of hiring a developer who can add features to your store or modify the theme can be very costly. In addition to this, some basic features like promotions & reviews management, data security, and mobile access are not available on the platform. Ideal for: The merchants who have access to programming talent and don't mind a basic eCommerce store. 5. Wix Wix became popular as an online website builder. It also offers interesting eCommerce functionalities. For as low as $35 a year, you can have the Business Basic package that comes with a free year of using the domain, analytics reports, and 20 GB of storage. If you want greater control of your eCommerce platform but are not a professional programmer and are not interested in hiring one, Wix can be a great alternative. Its most expensive package costs about $80 a year. It comes with features like email marketing, SEO management, inventory management, data security, and promotions management. The challenge is – most of the charges marketed by Wix are very affordable for the first year in operations. After a year, many of these features, like the domain, will become payable elements. This way as soon as the first year of your operations is over, your cost of running the eCommerce platform will dramatically go up. Ideal for: Merchants who want to have greater control of their website's design without the need for coding skills and those who want the first year of operations to be largely affordable. Conclusion: Shopify can work for you if you are seeking a limited set of features. However, for lesser price-points, the alternatives for Shopify offer great functionalities. Quick eSelling is good for cost-effective and rapidly deployable eCommerce websites that come loaded with native features. WooCommerce is a viable option if you have a WordPress site and want to convert it into an eCommerce store. Yo!Kart specializes in building multi-vendor marketplaces. PrestaShop can be handy and very budget-friendly if you have access to coding talent. And Wix is good if you want greater control over what your store looks like, without getting into the programming aspects.

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POS Retail

Top Reasons Businesses Choose Cloud-based POS Systems

Article | May 20, 2022

Digital innovations make a significant impact on the payment business. Point-of-sale is one such innovation that eases the payment mode. Traditional POS systems face several obstacles, such as data storage on local servers, higher upfront payments, limited access to the data, and higher costs. On the contrary, a cloud-based POS system is easier and offers more agility and access, making the payment process seamless and less time taking. Customer expectations are constantly changing regarding seamless online and offline payment processes. Cloud-based POS systems ensure the best possible customer experience while staying relevant to the rapidly evolving technology. Making the lives of the customers easier is the primary goal of the payment service provider. Deciding Between Getting a Traditional or A Cloud-Based POS System? POS software has improved over the past decade, and many firms have hopped on the POS system bandwagon. There are different types of POS systems available, and you may get confused, especially if you are new to POS. Purchasing a POS system is a long-term investment and should not be made without extensive research and knowledge. It would be best to compare the pros and cons of traditional and cloud-based POS options. Identify your business's needs and select the right POS system. On-site or existing POS is an old method. The data is stored on local servers and in closed networks. It is commonly known that standard POS systems can be complex and time-consuming. Also, installing large hardware adds to the cost of getting started. If you use older methods, you might be able to access data on-site, but you could lose it. A cloud-based POS is easy to use and easy to get to. The cloud-based POS system is adaptable and can easily add new modules or apps from other corporates. The software is rented by the month or year. Methods that use the cloud allow mobile access which means you can leverage the functionality of mobile POS without fully implementing a mobile POS system. POS software that runs in the cloud is also automatically backed up. Cloud-based POS software offers incredible benefits for your business. Reasons for Opting for a Cloud-based POS System Cloud POS Systems Are More Secure A cloud-based POS system lowers all types of risks due to stringent security standards. Cloud technology allows the POS software to automatically backup the data and sync via remote servers. The regular updating of the system increases the security level of the software. Remote System Access Switching to a cloud-based POS system allows you to access your back-office functionality from anywhere. This capability gives you the ability to receive important updates regarding inventory or vendor issues on your mobile or home computer. You will also benefit from the security of cloud backup for your data. Cost-effective Cloud-based POS may appear to be more expensive than conventional POS systems. Nevertheless, cloud-based technologies are preferable for SMBs. In contrast to traditional POS systems, cloud-based SaaS has no upfront costs and has low monthly rates. Automatic software updates are delivered, and the system can update itself. Better Customer Service Cloud POS is compatible with various payment options and can send invoices through email or SMS. This enhances the purchase experience for your brand's customers. Customers interested in simple technology like simple processes are thus satisfied with the commercial services a POS system delivers. By choosing a cloud-based POS system, you'll always be able to meet customer needs quickly. Also, remember that you can get updates, which are meant to change some features to fit how people use them. Conclusion We’ve seen a few reasons that why you should consider transitioning to a cloud-based point-of-sale system, but the list is unlimited. If you have not considered implementing a point-of-sale system, now is the time to do so. The most prominent upside is that a sound POS system facilitates sales and increases the capacity to attract more clients.

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AutoAnything

AutoAnything, Inc., an AutoZone Company, is a San Diego-based E-Commerce Company that merges the high-speed lane of custom automotive accessories and performance parts with cutting-edge internet technology and industry-leading customer service. With the support of AutoZone, the leading retailer and distributor of automotive replacement parts and accessories in the United States and annual sales over $8 billion, AutoAnything, Inc. continues to grow at a rapid pace. Our flexibility, entrepreneurial style, knowledge of the competitive landscape and innovative business model has allowed us to excel in the industry since 1979 and become highly recognized as one of the nation’s top 150 E-Commerce Organizations. AutoAnything, Inc.’s success can be directly attributed to the dedication, passion and creativity of our Team.

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POS Retail

Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

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POS Solutions

XY Retail Introduces Cutting-Edge Order Management System for Luxury Retailers

XY Retail | January 08, 2024

XY Retail, a leader in innovative retail solutions, today announces the launch of its latest product, an advanced Order Management System (OMS) that comes fully pre-integrated with the XY Point of Sale (POS) and Clienteling solutions. In response to evolving retailer needs, XY Retail has engineered a comprehensive OMS that not only streamlines order processing but also works seamlessly with the existing XY POS and Clienteling systems. This integrated approach marks a significant leap forward in providing retailers with a unified platform to enhance operational efficiency, customer engagement, and overall business performance. The XY Retail OMS offers: End-to-End Integration: The XY OMS is intricately woven into the fabric of the XY POS and Clienteling systems, fostering a holistic retail ecosystem. This end-to-end integration ensures a fluid and synchronized customer experience across all touchpoints. Effortless Order Processing: With a user-friendly interface, the OMS simplifies and accelerates order management, from initiation to fulfillment. Retailers can now seamlessly track and fulfill customer orders with precision. Real-Time Inventory Visibility: Leveraging the synergy with the XY POS, the OMS provides real-time visibility into inventory levels. This empowers retailers to optimize stock, minimize overstock or stockouts, and enhance overall inventory management. Clienteling Enhancement: The integrated OMS elevates the clienteling experience by consolidating customer information from POS transactions and order history. Sales associates can access a comprehensive view of customer interactions, preferences, and purchase history, enabling personalized and targeted engagement. Data-Driven Decision Making: Harnessing the power of interconnected systems, the XY Retail OMS enables data-driven decision-making. Retailers can gain valuable insights into customer behavior, inventory trends, and sales performance, facilitating strategic planning and business growth. "We're excited to introduce our integrated Order Management System, marking a significant step in advancing retail operations,” said Susan Jeffers, CEO of XY Retail. “By seamlessly merging order management with our POS and Clienteling systems, we provide retailers with a powerful tool to navigate the complexities of modern commerce efficiently and strategically. This integration underscores our commitment to delivering innovative solutions, enhancing operational efficiency, and empowering our clients to stay ahead in a dynamic industry." About XY Retail XY Retail is a trailblazer in the world of unified commerce solutions, revolutionizing the retail landscape with cutting-edge technology and innovation. Our microservices based, API-first, cloud-native platform seamlessly and vertically integrates mobile point of sale, order management, clienteling, and omnichannel capabilities, empowering global brands to deliver unparalleled customer experiences. With a commitment to excellence and a vision for the future of retail, XY Retail is at the forefront of shaping the next generation of innovative and dynamic commerce.

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POS Retail

GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

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POS Retail

Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

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POS Solutions

XY Retail Introduces Cutting-Edge Order Management System for Luxury Retailers

XY Retail | January 08, 2024

XY Retail, a leader in innovative retail solutions, today announces the launch of its latest product, an advanced Order Management System (OMS) that comes fully pre-integrated with the XY Point of Sale (POS) and Clienteling solutions. In response to evolving retailer needs, XY Retail has engineered a comprehensive OMS that not only streamlines order processing but also works seamlessly with the existing XY POS and Clienteling systems. This integrated approach marks a significant leap forward in providing retailers with a unified platform to enhance operational efficiency, customer engagement, and overall business performance. The XY Retail OMS offers: End-to-End Integration: The XY OMS is intricately woven into the fabric of the XY POS and Clienteling systems, fostering a holistic retail ecosystem. This end-to-end integration ensures a fluid and synchronized customer experience across all touchpoints. Effortless Order Processing: With a user-friendly interface, the OMS simplifies and accelerates order management, from initiation to fulfillment. Retailers can now seamlessly track and fulfill customer orders with precision. Real-Time Inventory Visibility: Leveraging the synergy with the XY POS, the OMS provides real-time visibility into inventory levels. This empowers retailers to optimize stock, minimize overstock or stockouts, and enhance overall inventory management. Clienteling Enhancement: The integrated OMS elevates the clienteling experience by consolidating customer information from POS transactions and order history. Sales associates can access a comprehensive view of customer interactions, preferences, and purchase history, enabling personalized and targeted engagement. Data-Driven Decision Making: Harnessing the power of interconnected systems, the XY Retail OMS enables data-driven decision-making. Retailers can gain valuable insights into customer behavior, inventory trends, and sales performance, facilitating strategic planning and business growth. "We're excited to introduce our integrated Order Management System, marking a significant step in advancing retail operations,” said Susan Jeffers, CEO of XY Retail. “By seamlessly merging order management with our POS and Clienteling systems, we provide retailers with a powerful tool to navigate the complexities of modern commerce efficiently and strategically. This integration underscores our commitment to delivering innovative solutions, enhancing operational efficiency, and empowering our clients to stay ahead in a dynamic industry." About XY Retail XY Retail is a trailblazer in the world of unified commerce solutions, revolutionizing the retail landscape with cutting-edge technology and innovation. Our microservices based, API-first, cloud-native platform seamlessly and vertically integrates mobile point of sale, order management, clienteling, and omnichannel capabilities, empowering global brands to deliver unparalleled customer experiences. With a commitment to excellence and a vision for the future of retail, XY Retail is at the forefront of shaping the next generation of innovative and dynamic commerce.

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POS Retail

GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

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