Home > Resources > Articles > How blockchain bridges the digital divide for e-commerce in emerging markets

How blockchain bridges the digital divide for e-commerce in emerging markets

Emerging markets are a hotbed for e-commerce as the industry is continuing to rapidly grow. In fact, these economies are poised to become the next mega-market and are going to be essential for future growth as retailers may soon reach consumer saturation. However, the sector currently faces one fundamental challenge - consistent, free internet access. For those in developed countries, the internet has become a daily, vital necessity. It has opened the door for opportunities in every sector of society and is often looked at as the number one, most effective medium for communication, entertainment, news and business. Unfortunately, it has had the opposite effect on those in emerging markets, as it has created a significant gap in terms of usage and access, otherwise known as the digital divide. Due to these access restrictions and data expenses, the average consumer is online less than 25 days out of every month; far less than in other parts of the world.

Spotlight

The Retail Talent Network

As retail is an exceptionally specialist market, more suppliers to this sector are seeing the value of having expertise onboard. The Retail Talent Network is uniquely placed to fulfil these needs using an extensive network amassed from two decades of our own experience in fashion retail and its supply base.

OTHER ARTICLES
POS Solutions

Top 6 Best Retail POS Systems For 2020

Article | April 4, 2024

A retail POS system is a system that includes customer display, barcode scanner, receipt printer, cash drawer, monitor, computer, and debit/credit card reader. POS systems offer the functionalities of CRM to interact with the customers or integration with an existing CRM system, sending of email & text messages, loyalty reward program, updating contact records, and functions for setting an appointment.

Read More
POS Solutions

How In-Store Brands Are Taking Over In-Store

Article | February 15, 2024

CPG companies have been feeling the pain from store brands for close to a decade now. Increased quality, curated offerings and better graphics have all led shoppers to try and in many cases then switch to the store brand offering. The latest salvo in this war is about data. Supermarkets used to rely heavily on data and insights on everything from shelf placement to how to market and promote foods from the likes of their CPG partners as well as Nielsen and IRI, to name just a couple. Then "category captains" were created. Usually staffed from the leading CPG brand and headquartered at the retailer’s location, those CPG companies offered retailers insights and recommendations on how to sell more product across the entire category—not just their own brand. Those positions are being eliminated. The source and quality of data has changed. Grocers are relying on their own proprietary research to decide how and where and at what price to place products—their own brands as well as those from CPG.

Read More
POS Solutions, Ecommerce Merchandising

Artificial Intelligence: Making Retail POS Systems Smarter

Article | June 7, 2024

The retail sector is no longer a haven for old technologies, where customers refuse to abandon their favorite brands. Every business in a competitive retail ecosystem is struggling to keep customers engaged and delighted and convert every potential opportunity into sales. Technology has been an important facilitator for the retail sector for years, and with the influx of technological breakthroughs such as Artificial Intelligence (AI), the retail environment is experiencing significant transformation. Perhaps no other industry has been as affected by advanced technologies and digital transformation as retail. As a result, the retail sector has experienced a major transition in the past couple of years, with customer experience becoming one of the most crucial brand differentiators. Next-Gen POS Solutions Transform Retail Operations AI-enabled advanced point of sale solutions has brought monumental changes in the retail industry—from the numerous applications in data management and computer vision to the use of machine learning for efficient inventory management. Despite a substantial rise in the inclination toward online shopping, customers still prefer to shop from physical stores. According to a recent study, nearly 59% of consumers prefer visiting the store before purchasing, while 81% of the people planning to purchase premium-priced products like to check them in person first. This demonstrates that the retail experience is still important to consumers. With the growing significance of enhancing customer experience, more and more retailers are emphasizing on improving the overall in-store experience. By incorporating AI into POS systems, retailers can collect and analyze massive amounts of customer data to gain valuable insights. AI can be used to integrate automation, allowing POS to process data from various touch points in real-time. Here are some additional features that retailers can benefit from, as follows: Unlock the Hidden Value of Data Gather Valuable Customer Insights Foster Delightful Customer Experiences Create Secure Payment Ecosystems Stimulate Intelligent In-store Product Placement Promote In-store Fraud Detection & Prevention How Does the Future Look? There is no doubt that AI has a lot to promise and deliver to the retail sector. AI can take things to the next level, especially in the POS domain, on account of its ability to capture, assess, and deliver valuable facts and statistics that will improve in-store engagement, enhance operations, and positively impact the bottom line. Hence, numerous POS solution developers and providers are aiming at investing in AI to upgrade their current POS solutions. However, it remains to be seen how AI technology will affect the retail ecosystem as we know it.

Read More
POS Retail

TOP 5 PHARMACY POS SYSTEMS

Article | December 24, 2021

To manage a drugstore efficiently, shopkeepers would need a pharmacy POS to automate inventory management, curbside collection, or drive-thru orders. Our today’s article will point out the 5 best pharmacy software that can improve your business operation. ConnectPOS: An awarded POS system Being trusted by more than 10 thousand retailers worldwide, ConnectPOS offers the best solutions for multiple retail industries including pharmacy. Product and order management Thanks to the option that assigns each location to a different outlet, your inventory will no longer be cluttered. Customers may order online and pick it up in the shop. Refunds and exchanges are also accepted in physical locations. Customer management ConnectPOS supports loyalty programs with extensions from dependable vendors (Aheadworks, Amasty, etc). With the group pricing feature, you can develop effective tiered pricing for multiple consumer groups, thus providing your customers with a better experience. Moreover, gift cards, which can be used in both online and offline retailers, are accepted by ConnectPOS. DataScan: A well-known pharmacy POS Being in the pharmacy business for over 35 years, DataScan has a broad knowledge of the profession and always keeps up with industry trends. For wholesalers and analyzing sales This software includes a system that can do your shopping for you! It will compare prices from all wholesalers to find the best deal. You can also keep track of all previous outcomes and sales. Financial reporting The system will not only track your sales, but will also provide financial reports for you and your accountant. You will also receive an end-of-day reconciliation statement to assist you in staying on track. PrimeRx: Efficiency drug system As an all-in-one pharmacy POS software for automated prescription filling, invoicing, and claim processing, PrimeRx is ideal for independent, retail, and multi-store pharmacy owners. It enables a customizable workflow that is both efficient and straightforward. Automated refill management By evaluating the patient, prescriber, and pharmaceutical inventory, this system can fill prescriptions. Scheduled refills, as well as missed or expired refills, are displayed on the Dashboard. Updates and Interaction with customers The Patient Status Board is a standout feature of PrimeRx. You may converse with your customers as they wait for their prescriptions using this board. Customers can see where they are in line and how much longer they will have to wait. They will not have to disturb the pharmacist or the technician, and they will not be in the dark. PioneerRx: Global pharmacy POS PioneerRx is considered the most widely used pharmacy POS system. Its purpose is to deliver new tools to small businesses so they may outperform their larger competitors. Inventory control Inventory management using shelf stickers is one of PioneerRx’s primary features. This POS system creates shelf labels rather than pricing labels for each item. This helps your personnel to swiftly determine whether an item needs to be replenished or has been placed in an inappropriate location. Financial Intelligence and reporting You may send prescription data to pharmaceutical companies via the PioneerRx system. Make your own label revisions and financial reports as well. BesyRx: A feature-rich system As a pharmacy POS system that is uncomplicated and easy to use, BesyRX is confident in its product, with the introductory sentence “Your search for the best pharmacy management software ends here.” Signature capture for electronic and mobile delivery BestRx comes with a signature pad that allows you to electronically collect signatures. This includes signatures for prescriptions, HIPAA, and credit cards. The e-signatures are saved in the system and may be retrieved for audits or reporting as needed. This software also has a mobile delivery system that allows the pharmacy to keep track of all shipments received digitally. Document Management BestRx makes document management simple by allowing your team to scan and import papers straight into the system. Furthermore, the papers may be retrieved at the press of a button. The papers are securely kept and backed up on an encrypted, HIPAA-compliant cloud server. Conclusion Most pharmacy POS systems include various features to help your drugstore increase sales and efficiency.

Read More
POS Solutions

Harnessing Retail POS Power: Boosting Sales and Streamlining Ops

Article | April 4, 2024

A retail POS system is a system that includes customer display, barcode scanner, receipt printer, cash drawer, monitor, computer, and debit/credit card reader. POS systems offer the functionalities of CRM to interact with the customers or integration with an existing CRM system, sending of email & text messages, loyalty reward program, updating contact records, and functions for setting an appointment.

Read More
POS Solutions

Streamlining Product Catalogs: Best PIM Software Unveiled

Article | February 15, 2024

CPG companies have been feeling the pain from store brands for close to a decade now. Increased quality, curated offerings and better graphics have all led shoppers to try and in many cases then switch to the store brand offering. The latest salvo in this war is about data. Supermarkets used to rely heavily on data and insights on everything from shelf placement to how to market and promote foods from the likes of their CPG partners as well as Nielsen and IRI, to name just a couple. Then "category captains" were created. Usually staffed from the leading CPG brand and headquartered at the retailer’s location, those CPG companies offered retailers insights and recommendations on how to sell more product across the entire category—not just their own brand. Those positions are being eliminated. The source and quality of data has changed. Grocers are relying on their own proprietary research to decide how and where and at what price to place products—their own brands as well as those from CPG.

Read More
POS Solutions, Ecommerce Merchandising

Driving Success with Localization of Global E-commerce Platforms

Article | June 7, 2024

The retail sector is no longer a haven for old technologies, where customers refuse to abandon their favorite brands. Every business in a competitive retail ecosystem is struggling to keep customers engaged and delighted and convert every potential opportunity into sales. Technology has been an important facilitator for the retail sector for years, and with the influx of technological breakthroughs such as Artificial Intelligence (AI), the retail environment is experiencing significant transformation. Perhaps no other industry has been as affected by advanced technologies and digital transformation as retail. As a result, the retail sector has experienced a major transition in the past couple of years, with customer experience becoming one of the most crucial brand differentiators. Next-Gen POS Solutions Transform Retail Operations AI-enabled advanced point of sale solutions has brought monumental changes in the retail industry—from the numerous applications in data management and computer vision to the use of machine learning for efficient inventory management. Despite a substantial rise in the inclination toward online shopping, customers still prefer to shop from physical stores. According to a recent study, nearly 59% of consumers prefer visiting the store before purchasing, while 81% of the people planning to purchase premium-priced products like to check them in person first. This demonstrates that the retail experience is still important to consumers. With the growing significance of enhancing customer experience, more and more retailers are emphasizing on improving the overall in-store experience. By incorporating AI into POS systems, retailers can collect and analyze massive amounts of customer data to gain valuable insights. AI can be used to integrate automation, allowing POS to process data from various touch points in real-time. Here are some additional features that retailers can benefit from, as follows: Unlock the Hidden Value of Data Gather Valuable Customer Insights Foster Delightful Customer Experiences Create Secure Payment Ecosystems Stimulate Intelligent In-store Product Placement Promote In-store Fraud Detection & Prevention How Does the Future Look? There is no doubt that AI has a lot to promise and deliver to the retail sector. AI can take things to the next level, especially in the POS domain, on account of its ability to capture, assess, and deliver valuable facts and statistics that will improve in-store engagement, enhance operations, and positively impact the bottom line. Hence, numerous POS solution developers and providers are aiming at investing in AI to upgrade their current POS solutions. However, it remains to be seen how AI technology will affect the retail ecosystem as we know it.

Read More
POS Retail

TOP 5 PHARMACY POS SYSTEMS

Article | December 24, 2021

To manage a drugstore efficiently, shopkeepers would need a pharmacy POS to automate inventory management, curbside collection, or drive-thru orders. Our today’s article will point out the 5 best pharmacy software that can improve your business operation. ConnectPOS: An awarded POS system Being trusted by more than 10 thousand retailers worldwide, ConnectPOS offers the best solutions for multiple retail industries including pharmacy. Product and order management Thanks to the option that assigns each location to a different outlet, your inventory will no longer be cluttered. Customers may order online and pick it up in the shop. Refunds and exchanges are also accepted in physical locations. Customer management ConnectPOS supports loyalty programs with extensions from dependable vendors (Aheadworks, Amasty, etc). With the group pricing feature, you can develop effective tiered pricing for multiple consumer groups, thus providing your customers with a better experience. Moreover, gift cards, which can be used in both online and offline retailers, are accepted by ConnectPOS. DataScan: A well-known pharmacy POS Being in the pharmacy business for over 35 years, DataScan has a broad knowledge of the profession and always keeps up with industry trends. For wholesalers and analyzing sales This software includes a system that can do your shopping for you! It will compare prices from all wholesalers to find the best deal. You can also keep track of all previous outcomes and sales. Financial reporting The system will not only track your sales, but will also provide financial reports for you and your accountant. You will also receive an end-of-day reconciliation statement to assist you in staying on track. PrimeRx: Efficiency drug system As an all-in-one pharmacy POS software for automated prescription filling, invoicing, and claim processing, PrimeRx is ideal for independent, retail, and multi-store pharmacy owners. It enables a customizable workflow that is both efficient and straightforward. Automated refill management By evaluating the patient, prescriber, and pharmaceutical inventory, this system can fill prescriptions. Scheduled refills, as well as missed or expired refills, are displayed on the Dashboard. Updates and Interaction with customers The Patient Status Board is a standout feature of PrimeRx. You may converse with your customers as they wait for their prescriptions using this board. Customers can see where they are in line and how much longer they will have to wait. They will not have to disturb the pharmacist or the technician, and they will not be in the dark. PioneerRx: Global pharmacy POS PioneerRx is considered the most widely used pharmacy POS system. Its purpose is to deliver new tools to small businesses so they may outperform their larger competitors. Inventory control Inventory management using shelf stickers is one of PioneerRx’s primary features. This POS system creates shelf labels rather than pricing labels for each item. This helps your personnel to swiftly determine whether an item needs to be replenished or has been placed in an inappropriate location. Financial Intelligence and reporting You may send prescription data to pharmaceutical companies via the PioneerRx system. Make your own label revisions and financial reports as well. BesyRx: A feature-rich system As a pharmacy POS system that is uncomplicated and easy to use, BesyRX is confident in its product, with the introductory sentence “Your search for the best pharmacy management software ends here.” Signature capture for electronic and mobile delivery BestRx comes with a signature pad that allows you to electronically collect signatures. This includes signatures for prescriptions, HIPAA, and credit cards. The e-signatures are saved in the system and may be retrieved for audits or reporting as needed. This software also has a mobile delivery system that allows the pharmacy to keep track of all shipments received digitally. Document Management BestRx makes document management simple by allowing your team to scan and import papers straight into the system. Furthermore, the papers may be retrieved at the press of a button. The papers are securely kept and backed up on an encrypted, HIPAA-compliant cloud server. Conclusion Most pharmacy POS systems include various features to help your drugstore increase sales and efficiency.

Read More
MORE ARTICLES

Spotlight

The Retail Talent Network

As retail is an exceptionally specialist market, more suppliers to this sector are seeing the value of having expertise onboard. The Retail Talent Network is uniquely placed to fulfil these needs using an extensive network amassed from two decades of our own experience in fashion retail and its supply base.

Related News

e-commerce

Citi Integrates U.S. Institutional eCommerce Payments and Electronic Bill Presentment Platforms

Citi | October 31, 2022

Spring by Citi, Citi’s digital payments service enabling ecommerce and B2B funds flows launched in the U.S. in 2020, has now been fully integrated with Citi® Present and Pay, Citi’s electronic bill presentment platform. The combined solution offers comprehensive digital payment acceptance and electronic bill presentment in one integrated platform. With the new solution, Citi’s institutional clients will now have the ability to both collect payments across a full range of U.S. payment methods and provide world-class digital billing capabilities through a single contracting structure with Citi and a single technical integration, helping them save time and streamlining implementation. Previously, support for all relevant payment methods would have required a connection to an external third party – this comprehensive solution now makes it possible for payment acceptance all in one single contracting structure with Citi. “For many companies, the ability to offer their customers a fully digital billing experience can be very complex; requiring various third parties, and it is often expensive to migrate away from using manual, time-intensive paper-based processes,This new combined solution gives our clients an easier way to digitize their invoice presentment and payment processes, providing additional payment options to their customers.” Anupam Sinha, North America Payments and Receivables Head, Citi Treasury and Trade Solutions. The combined solution helps institutional clients simplify access to the following services through a single contracting structure and technical integration: More options for their customers to pay from a wide range of U.S. payment methods, including credit and debit cards, ACH direct debit and real-time Requests for Payment, and alternative payment methods such as digital wallets Ability for their customers to receive and pay their bills via a variety of methods, including web/mobile web, secure email, SMS text and voice (automated IVR and live customer service) Ability to validate payer bank account details in real-time to help ensure compliance with NACHA related to ACH direct debits without needing an additional technical integration with another third party As a trusted treasury bank to leading enterprises, we are always looking for ways to make it easier for our clients to use our solutions and we are constantly innovating to help reduce friction for them," continued Sinha. “The integration of Spring by Citi with Citi Present and Pay is one of several initiatives targeted at helping institutional billers address pain points associated with accepting digital payments. About Spring by Citi Spring by Citi is an end-to-end digital payments service enabling ecommerce and B2B funds flows, globally. Built on top of Citi TTS's industry-leading and proprietary payments network, Spring by Citi delivers seamless market-relevant payment experiences, combined with a robust set of globally consistent treasury solutions. This comprehensive solution helps businesses optimize their marketplace payments, business-to-business and direct-to-consumer transaction flows. In parallel, Citi's embedded FX, enhanced reconciliation and reporting capabilities help ensure that the critical needs of corporate treasury, payment operations, marketing and sales teams are met. For more information, visit www.spring.citi.com. About Citi® Present and Pay Citi Present and Pay enables clients to distribute digital billing information across multiple communication channels based on a consumer’s preference, including secure email, SMS text, Interactive Voice Recognition / phone, web and mobile web experiences, and digital voice assistants. The omni-channel electronic bill presentment and payment platform also collects corresponding payments via multiple forms of payments. Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry a comprehensive range of digitally enabled treasury, trade and liquidity management solutions. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Read More

POS Retail

FRAME Deploys NewStore Omnichannel Platform to Power the Brand's Modern Retail Experience

NewStore | March 29, 2022

NewStore, a modular, mobile-first omnichannel cloud platform for retail brands worldwide, announced today that American fashion brand FRAME has launched the NewStore Omnichannel Platform across its retail business. By powering the brand's mobile point-of-sale (mPOS), order management, inventory, and store fulfillment solutions, NewStore is now the backbone of FRAME's retail operations. FRAME is known for its collections in denim, cotton, leather, and cashmere, and it strives to design a modern versatile wardrobe with the finest natural materials. The fashion brand sells its products through e-commerce, wholesale, and in 15 retail stores today. Most recently, FRAME opened its first international store in London, expanding its global footprint. As it continues to grow its retail presence, FRAME is reinvigorating its customer experience and prioritizing technology's role in creating a seamless shopping journey. "While we pride ourselves on providing an excellent customer experience, we're always looking for ways to enhance our shopping journey by blending our online and offline channels in a friction-free way," said Jens Grede, Co-founder, FRAME. "NewStore is enabling us to optimize our growing business with omnichannel capabilities that scale and create an even more personalized shopping experience." Through its partnership with NewStore, FRAME is enabling its employees with the tools and data required to provide the best shopping experience possible. Store associates can view sales, gauge product inventory across store locations, and complete mobile checkouts to improve customer convenience and maximize profitability. Now that all of FRAME's store locations are live on the platform, the brand will work with NewStore to further enhance the customer journey by rolling out features that allow employees to better guide shoppers and create more meaningful relationships. "Retail stores should be operating as an extension of e-commerce. Customers want seamless access to products, modern fulfillment options at little to no cost, and quick and contactless payments. These expectations are difficult to meet without a global omnichannel solution. With enterprise-wide access to inventory and the right technology in place, FRAME is offering the direct-to-consumer experience that is required to win in retail today. This is critical as they grow the business." Stephan Schambach, Founder and CEO, NewStore About FRAME FRAME is an American fashion brand renowned for its collections in denim, cotton, leather and cashmere. The company's founders Erik Torstensson and Jens Grede strive to design a modern versatile wardrobe through signature denim fits, cotton shirting and coveted leather pieces. Since the brand's inception in 2012 in Los Angeles, California, FRAME has evolved from making handcrafted denim to offering ready-to-wear and accessories collections in the finest natural materials. FRAME is committed to sustainable and fair manufacturing practices, balancing profit with a commitment to people and planet. Today, FRAME is sold through its own retail stores and e-commerce as well as through leading department stores and boutiques across the world. About NewStore NewStore provides Omnichannel-as-a-Service for retail brands worldwide that want to accelerate their digital transformation. Built for speed and flexibility, NewStore allows brands to easily deliver amazing shopping experiences that store associates and consumers love. Its mobile-first, modular cloud platform includes POS, order management, clienteling, inventory, and native consumer apps. NewStore customers such as Burton, Faherty Brand, G-Star RAW, Marine Layer, Scotch & Soda, UNTUCKit, and Vince benefit from the most complete, global omnichannel retail solution available. The company is backed by General Catalyst, Activant Capital, and Salesforce Ventures.

Read More

POS Solutions

Mercaux Announces Release of Next Generation POS that Decomposes Experience, Basket, and Checkout Layers

Mercaux | March 17, 2022

Mercaux, The Next Generation In-Store Experience Platform, today announces an extension of its in-store suite to include Next Generation POS. The arrival introduces decomposed basket and checkout layers, resulting in a fluid, flexible and fast checkout process, irrespective of where the omnichannel journey started or finished, or method of payment the customer wishes to use. Where legacy monolithic POS has remained stagnant for many years, delivering little in the way of value to retailers, Mercaux's fully composable, cloud-based and API-first solution derives true business value, and provides a frictionless authentication, cross-channel basket transfer and checkout experience for customers. Next Generation POS from Mercaux consists of a decomposed basket and checkout layer, meaning that a customer can start a journey in one channel (in-store, online or remotely), pick it up in another, and complete the checkout wherever, and however they want. This is enabled via Mercaux's "Universal Basket" that follows the customer wherever they go and supports the rise in popularity of customers who ROPO, or those who would like to use modern payment methods including BNPL, anywhere. Furthermore, by deploying a composable vs monolithic platform, retailers now have the freedom to control how they transform their business, the flexibility to work with other Next Generation solutions of their choice, and the agility to deploy and add new functionality quickly. "Retail is behind other industries, such as banking or e-commerce, when it comes to composability. By extending our in-store experience platform though to basket and checkout, we are helping retail to take advantage of the agility and speed in which the industry can evolve to meet the heightened demands of the customer." Mercaux co-founder and ceo, Olga Kotsur Kotsur concluded, "This is an incredibly exciting development, finally allowing retailers to offer an entirely frictionless cross-channel experience and checkout process for their customers. With the pain of legacy removed, retailers can facilitate new omnichannel service models, understand true customer journeys and leverage online and payment innovations in-store - all leading to tangible top-line benefits." About Mercaux Mercaux's Composable Platform future-proofs stores. The 3-layers comprise of In-Store Experience, Universal Basket and Next Generation Checkout. The Experience layer redefines how customers interact with the physical store, through assisted selling and self-service solutions. Universal Baskets are created from these solutions that follow the customer wherever they continue their omnichannel experience. Next-Gen Checkout allows customers to complete the transaction anywhere, using any payment.

Read More

e-commerce

Citi Integrates U.S. Institutional eCommerce Payments and Electronic Bill Presentment Platforms

Citi | October 31, 2022

Spring by Citi, Citi’s digital payments service enabling ecommerce and B2B funds flows launched in the U.S. in 2020, has now been fully integrated with Citi® Present and Pay, Citi’s electronic bill presentment platform. The combined solution offers comprehensive digital payment acceptance and electronic bill presentment in one integrated platform. With the new solution, Citi’s institutional clients will now have the ability to both collect payments across a full range of U.S. payment methods and provide world-class digital billing capabilities through a single contracting structure with Citi and a single technical integration, helping them save time and streamlining implementation. Previously, support for all relevant payment methods would have required a connection to an external third party – this comprehensive solution now makes it possible for payment acceptance all in one single contracting structure with Citi. “For many companies, the ability to offer their customers a fully digital billing experience can be very complex; requiring various third parties, and it is often expensive to migrate away from using manual, time-intensive paper-based processes,This new combined solution gives our clients an easier way to digitize their invoice presentment and payment processes, providing additional payment options to their customers.” Anupam Sinha, North America Payments and Receivables Head, Citi Treasury and Trade Solutions. The combined solution helps institutional clients simplify access to the following services through a single contracting structure and technical integration: More options for their customers to pay from a wide range of U.S. payment methods, including credit and debit cards, ACH direct debit and real-time Requests for Payment, and alternative payment methods such as digital wallets Ability for their customers to receive and pay their bills via a variety of methods, including web/mobile web, secure email, SMS text and voice (automated IVR and live customer service) Ability to validate payer bank account details in real-time to help ensure compliance with NACHA related to ACH direct debits without needing an additional technical integration with another third party As a trusted treasury bank to leading enterprises, we are always looking for ways to make it easier for our clients to use our solutions and we are constantly innovating to help reduce friction for them," continued Sinha. “The integration of Spring by Citi with Citi Present and Pay is one of several initiatives targeted at helping institutional billers address pain points associated with accepting digital payments. About Spring by Citi Spring by Citi is an end-to-end digital payments service enabling ecommerce and B2B funds flows, globally. Built on top of Citi TTS's industry-leading and proprietary payments network, Spring by Citi delivers seamless market-relevant payment experiences, combined with a robust set of globally consistent treasury solutions. This comprehensive solution helps businesses optimize their marketplace payments, business-to-business and direct-to-consumer transaction flows. In parallel, Citi's embedded FX, enhanced reconciliation and reporting capabilities help ensure that the critical needs of corporate treasury, payment operations, marketing and sales teams are met. For more information, visit www.spring.citi.com. About Citi® Present and Pay Citi Present and Pay enables clients to distribute digital billing information across multiple communication channels based on a consumer’s preference, including secure email, SMS text, Interactive Voice Recognition / phone, web and mobile web experiences, and digital voice assistants. The omni-channel electronic bill presentment and payment platform also collects corresponding payments via multiple forms of payments. Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry a comprehensive range of digitally enabled treasury, trade and liquidity management solutions. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Read More

POS Retail

FRAME Deploys NewStore Omnichannel Platform to Power the Brand's Modern Retail Experience

NewStore | March 29, 2022

NewStore, a modular, mobile-first omnichannel cloud platform for retail brands worldwide, announced today that American fashion brand FRAME has launched the NewStore Omnichannel Platform across its retail business. By powering the brand's mobile point-of-sale (mPOS), order management, inventory, and store fulfillment solutions, NewStore is now the backbone of FRAME's retail operations. FRAME is known for its collections in denim, cotton, leather, and cashmere, and it strives to design a modern versatile wardrobe with the finest natural materials. The fashion brand sells its products through e-commerce, wholesale, and in 15 retail stores today. Most recently, FRAME opened its first international store in London, expanding its global footprint. As it continues to grow its retail presence, FRAME is reinvigorating its customer experience and prioritizing technology's role in creating a seamless shopping journey. "While we pride ourselves on providing an excellent customer experience, we're always looking for ways to enhance our shopping journey by blending our online and offline channels in a friction-free way," said Jens Grede, Co-founder, FRAME. "NewStore is enabling us to optimize our growing business with omnichannel capabilities that scale and create an even more personalized shopping experience." Through its partnership with NewStore, FRAME is enabling its employees with the tools and data required to provide the best shopping experience possible. Store associates can view sales, gauge product inventory across store locations, and complete mobile checkouts to improve customer convenience and maximize profitability. Now that all of FRAME's store locations are live on the platform, the brand will work with NewStore to further enhance the customer journey by rolling out features that allow employees to better guide shoppers and create more meaningful relationships. "Retail stores should be operating as an extension of e-commerce. Customers want seamless access to products, modern fulfillment options at little to no cost, and quick and contactless payments. These expectations are difficult to meet without a global omnichannel solution. With enterprise-wide access to inventory and the right technology in place, FRAME is offering the direct-to-consumer experience that is required to win in retail today. This is critical as they grow the business." Stephan Schambach, Founder and CEO, NewStore About FRAME FRAME is an American fashion brand renowned for its collections in denim, cotton, leather and cashmere. The company's founders Erik Torstensson and Jens Grede strive to design a modern versatile wardrobe through signature denim fits, cotton shirting and coveted leather pieces. Since the brand's inception in 2012 in Los Angeles, California, FRAME has evolved from making handcrafted denim to offering ready-to-wear and accessories collections in the finest natural materials. FRAME is committed to sustainable and fair manufacturing practices, balancing profit with a commitment to people and planet. Today, FRAME is sold through its own retail stores and e-commerce as well as through leading department stores and boutiques across the world. About NewStore NewStore provides Omnichannel-as-a-Service for retail brands worldwide that want to accelerate their digital transformation. Built for speed and flexibility, NewStore allows brands to easily deliver amazing shopping experiences that store associates and consumers love. Its mobile-first, modular cloud platform includes POS, order management, clienteling, inventory, and native consumer apps. NewStore customers such as Burton, Faherty Brand, G-Star RAW, Marine Layer, Scotch & Soda, UNTUCKit, and Vince benefit from the most complete, global omnichannel retail solution available. The company is backed by General Catalyst, Activant Capital, and Salesforce Ventures.

Read More

POS Solutions

Mercaux Announces Release of Next Generation POS that Decomposes Experience, Basket, and Checkout Layers

Mercaux | March 17, 2022

Mercaux, The Next Generation In-Store Experience Platform, today announces an extension of its in-store suite to include Next Generation POS. The arrival introduces decomposed basket and checkout layers, resulting in a fluid, flexible and fast checkout process, irrespective of where the omnichannel journey started or finished, or method of payment the customer wishes to use. Where legacy monolithic POS has remained stagnant for many years, delivering little in the way of value to retailers, Mercaux's fully composable, cloud-based and API-first solution derives true business value, and provides a frictionless authentication, cross-channel basket transfer and checkout experience for customers. Next Generation POS from Mercaux consists of a decomposed basket and checkout layer, meaning that a customer can start a journey in one channel (in-store, online or remotely), pick it up in another, and complete the checkout wherever, and however they want. This is enabled via Mercaux's "Universal Basket" that follows the customer wherever they go and supports the rise in popularity of customers who ROPO, or those who would like to use modern payment methods including BNPL, anywhere. Furthermore, by deploying a composable vs monolithic platform, retailers now have the freedom to control how they transform their business, the flexibility to work with other Next Generation solutions of their choice, and the agility to deploy and add new functionality quickly. "Retail is behind other industries, such as banking or e-commerce, when it comes to composability. By extending our in-store experience platform though to basket and checkout, we are helping retail to take advantage of the agility and speed in which the industry can evolve to meet the heightened demands of the customer." Mercaux co-founder and ceo, Olga Kotsur Kotsur concluded, "This is an incredibly exciting development, finally allowing retailers to offer an entirely frictionless cross-channel experience and checkout process for their customers. With the pain of legacy removed, retailers can facilitate new omnichannel service models, understand true customer journeys and leverage online and payment innovations in-store - all leading to tangible top-line benefits." About Mercaux Mercaux's Composable Platform future-proofs stores. The 3-layers comprise of In-Store Experience, Universal Basket and Next Generation Checkout. The Experience layer redefines how customers interact with the physical store, through assisted selling and self-service solutions. Universal Baskets are created from these solutions that follow the customer wherever they continue their omnichannel experience. Next-Gen Checkout allows customers to complete the transaction anywhere, using any payment.

Read More

Events