How retailers are reacting to COVID-19 with a contactless limit increase

May 26, 2021 | 3 views

The spending limit for contactless card payments has increased from £30 to £45 this week in the UK, with the continuing Covid-19 coronavirus crisis accelerating a move that was already in the planning.

Learn about the benefits and implications of this increase in this expert guide.

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Zigatta

Zigatta is obsessed with adding value through performance improvement. This healthy obsession is why we challenge conventional thinking – always. In the village we embrace change. We’re a disruptive bunch that takes great pride in adding value by connecting clients with top talent and emerging technologies, while constantly measuring results.

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POS RETAIL

POS System Essential for Omnichannel Retail

Article | March 16, 2022

“Software-led payments is more than just ecommerce or online invoicing, as many software platforms are starting to offer solutions for card present transactions.” - Caleb Avery, CEO of Tilled The omnichannel retail marketplace has been witnessing a surge in recent years. A buyer has a natural tendency to check the details of the products or services on the internet. But a single purchase may involve different channels like apps, websites, store walk-ins, etc. For example, a customer may conduct online research and purchase an item before picking it up from a retail store; or, conversely, he may go to a nearby mall and inspect the product first before purchasing it online. Therefore, retailing has become increasingly about providing multi-channel or cross-channel experiences to customers. If the merchant misses out on his goods being offered on any channel, it will harm the customer experience (CX). In such a circumstance, deploying a POS system built for multi-site store networks that takes care of the maintenance of the website and all the locations in the chain simultaneously is a blessing for the retail sector. The point of sale is now an important part of an eCommerce plan for a business and a key part of its ongoing marketing strategy. Drive Loyalty and Sales Using Your Omnichannel POS A retailer's point of sale is the hub of every business action, wherein sales, marketing, inventory, customer management and customer service merge. But what many still don't realize is its powerful role in unlocking customer loyalty and higher revenue. With a modern and adaptable point-of-sale system, lengthy transaction times are minimized and may be boosted while simultaneously processing more consumers, enhancing the customer experience. Your omnichannel POS should permit the configuration of several payment methods. Customers can choose various payment methods, such as credit cards, digital wallets, PayPal, and cash. POS data should be utilized in all company decisions in today's society. Additionally, POS data is essential for merchandise planning. For example, if a product is not selling quickly enough, sell-through and sales-by-margin analytics can influence your pricing decisions and allow you to adjust accordingly. A common misconception about POS is that it is only a point of contact between your clients and your business. However, when its tremendous capabilities are utilized, it becomes a tool that helps you understand your clients, enhance their experience, and guarantee you are prepared to meet their demands. Importance of Using POS and Ecommerce Integration Combining CRM and POS software enables staff members to review and update client information instantly. You can develop new sales methods based on customers' interests and previous purchases. The omnichannel point of sale integrates with Tally, Quickbooks, etc. You may export order receipts from all channels directly. With omnichannel POS, your firm is accessible to customers 24 hours a day. Customers can purchase at one store and receive delivery from another, as well as other choices designed to improve the shopping experience. A retail eCommerce platform with seamless integration benefits both businesses and customers. Bottom Line Innovation in omnichannel retailing and investment in the POS system's digitization helps track and fulfill online, and offline customer needs. It goes without saying that the future of POS and retail are closely intertwined. In the coming years, POS will see a radical shift. Now is the optimal time for laggards to catch up or risk falling behind.

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POS RETAIL

A pivot to customer and supporting the shopping journeys

Article | December 23, 2021

ABC Fine Wine & SpiritsOracle Retail Cross Talk is our favorite event of the year. Across the 2.5 days, we create authentic connections across our retail community so you can learn from each other. We recruit 25-30 global retailers to share their experiences in case studies, panel discussions, or fireside chats. We are thrilled to host a panel discussion with ABC Fine Wine & Spirits and Estee Lauder. Delivering a great omnichannel retail experience takes the right people, process, and technology to earn shopper loyalty by offering engaging and seamless experiences across more than 70 unique customer journeys. Widespread curbside pick-up, flexible store environments, buy online, pick-up in-store (BOPIS) protocols–these new norms have dramatically accelerated in-store adaptation and innovation. As brands dive deeper for new ways to maximize the customer experience—and adapt to the rapidly changing world—they must lean into agile technology. Join this discussion to hear how ABC Fine Wine & Spirits and Estee Lauder are tackling today’s challenges and planning for the future. Estee Lauder Platform Discussion: Stores and Omnichannel As customers continue to evolve the omnichannel retail journey, you can provide them with engaging, seamless experiences while refining operations across point-of-service, ecommerce, and order management systems. Join us at Cross Talk to learn how Oracle Retail’s omnichannel modern retail solutions bridge the productivity gaps between the online and traditional point-of-sale functionality, improve store associate effectiveness, increase sales, and ultimately personalize the customer experience.

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POS RETAIL

Digital Payments – Preferred Way To Exchange Money

Article | May 20, 2022

In the past several years, the evolution of the payments industry has been remarkable. The digital payment business is expanding fast and is an open area for competitors. Globally, the emergence and implementation of digital payment solutions results from diverse requirements. The digital payments ecosystem is being propelled by three significant factors: technology, customer demand, and regulations. Insights Into Digital Payments Evolution The Internet of Things, APIs, point of sale (POS), mobile wallets, and tokenization create a seamless payments ecosystem by digitally connecting every industry with the payments environment. Consumer demand drivers can be broken down into subcategories, such as real-time payments, a better user experience, and personalization. In 2021, the market for digital payments was estimated at USD 7.36 trillion. It is expected to reach USD 15.27 trillion by 2027, with a CAGR of 12.38% between 2022 and 2027. The technical improvements of smartphones, digital payment cards, and point-of-sale terminals in retail stores are driving the expansion of the industry. According to American Express, the COVID-19 pandemic significantly impacted cardholder spending. Companies are offering contactless payment options to attract customers. This has made the contactless function a global competitive advantage for companies. In light of the preceding progress and development, let's explore what 2022 has in store for you. Look closely at any changes to digital payment methods that could be important in 2022. The Most Prevalent Digital Payment Trends – 2022 Biometric Authentication In 2022, biometric authentication will increase as a trend in the digital payment industry. Biometric authentication utilizes a person's biological and anatomical traits. In addition to fingerprint scanners, face recognition, iris recognition, heartbeat analysis, and vein mapping, the verification process also incorporates fingerprint scanners. It is a very secure payment system based on the unique qualities of each individual. Additionally, it helps establish consumer loyalty and trust. Contactless Payments Customers may make contactless payments by just waving their smartphone in front of the reader. Thus, the payment method becomes faster and more convenient than card insertion. Contactless payments are more secure due to the rapid transfer of encrypted data to the point-of-sale gadget. Mobile Point of Sale Mobile-point-of-sale (mPOS) is a breakthrough technology since it liberates retailers from storefronts and in-store payments. Instead, it is a portable register that operates on a tablet, smartphone, or mobile device. Mobile POS has significantly altered a store's payment procedure by making it more efficient and adaptable. According to Global Market Insights, mPOS will grow at a 19% CAGR between 2020 and 2026. Mobile Wallet Transaction According to Juniper Research, digital and mobile wallet usage will surpass 4.4 billion by 2025. Mobile wallets do not require a real bank account and keep all payment information securely and compactly. This is enabled through Near Field Communication (NFC) technology, which allows devices in close proximity to communicate and share data quickly. With the rise in demand for contactless payments, NFC has become a prominent term in digital payments. Final Word There are many proven ways to send money around the world. It is essential to consider how money moves across borders. The answer depends on the payment's context. Today's businesses want diverse and straightforward methods for international money transfers. The choices available to enterprises range from SWIFT and ACH transfers to digital wallets and cheques to credit cards and even crypto money. Digital payments enable organizations to conduct money transfers efficiently, transparently, and cost-effectively. This will encourage the global economy to continue expanding and strengthening further.

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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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Spotlight

Zigatta

Zigatta is obsessed with adding value through performance improvement. This healthy obsession is why we challenge conventional thinking – always. In the village we embrace change. We’re a disruptive bunch that takes great pride in adding value by connecting clients with top talent and emerging technologies, while constantly measuring results.

Related News

POS RETAIL

Verizon Partners with MasterCard and FNBO to Launch Credit Card for Small Business

Verizon | June 20, 2022

Verizon announced its partnership with MasterCard and First National Bank of Omaha (FNBO) to launch a credit card designed to bring value to small business owners. Existing Verizon Business wireless customers with fewer than 100 lines and an online account will be eligible to apply for the Verizon Business MasterCard®, which rewards purchases of qualified office supplies, technology, fuel, and other business expenses in the coming weeks. Tami Erwin, CEO of Verizon Business, said, "MasterCard has been a key partner to us on our journey to help our customers of all sizes transform their businesses and ensure they are truly future-ready. We are pleased to expand this partnership to include FNBO and bring this small business credit card to our customers at a time when we know they are seeking new avenues to expand their business, manage costs and maximize their use of new technologies to solve challenges to drive growth." Benefits and features of the card will include: Earn rewards on eligible business purchases* Get more for your business New cardholder bonus Fill your digital toolbox Assess your digital footprint Safe & secure payments experience This new service results from a multidimensional collaboration between Verizon Business and MasterCard to assist provide solutions for the global payments and commerce ecosystems. The world's leaders are continuing to collaborate to combine Verizon's 5G connection with the strength of Mastercard's network. "We're proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits." -Chiro Aikat, Executive Vice President, Products & Engineering, North America at Mastercard Jerry J. O'Flanagan, Executive Vice President, Partner Segment at FNBO, said, "FNBO has a rich history of helping small businesses grow and succeed, so we are excited to partner with such a respected brand as Verizon on the launch of their first program for small business."

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POS RETAIL

Leading International Off-price Retailer beaconsmind AG Relies on beaconsmind Solution.

Beaconsmind | June 21, 2022

Beaconsmind, a leading location-based marketing and analytics SaaS provider, signs contracts with BFL Group as a new client. The company is known as the world's leading off-price retailer in the fashion, gaming, and household goods industries. Brands for Less, Toys for Less, Homes for Less, and Mumuso are all part of the BFL Group. It is Tchibo's primary partner in the MENA region. Beaconsmind's solutions will be extended to BFL Group's brick-and-mortar stores in the future. This will result in the brand having 80 stores in the UAE, Lebanon, Oman, Qatar, Kuwait, and Malta. The collaboration with BFL Group led to beaconsmind's partnership with the Seed Group. The Seed Group is a subsidiary of Sheikh Saeed Bin Ahmed Al Maktoum's Private Office, a member of Dubai's ruling family. This collaboration provides access to the royal family's companies and business contacts in the UAE and the MENA region. By connecting the BFL mobile app with the beaconsmind Suite software, beaconsmind assists BFL Group in connecting its brick-and-mortar retail offers with those in online retail. Through new interaction and communication channels, BFL Group can increase cross-selling and offer customers tailored offers based on their purchase and visit history at the point of sale. Personalization of offers increases customer loyalty and enhances the customer experience. BFL Group also benefits from all location-based data collected from app users, allowing it to respond to customer requests in-store or anticipate market trends and respond with relevant offers. “The BFL Group is already one of the world's leading off-price retailers and continues to expand. We are very pleased to be able to accompany them and provide dynamic growth impulses with our solutions. " -Max Weiland, Chief Executive Officer of beaconsmind “With beaconsmind's solution, we are committed to opening a new marketing channel within our omnichannel mix, to better reach our app users and improve their shopping experience. We believe in a customer`s first strategy and with a local, targeted customer approach we are able to offer even more benefits and shopping excitement to our customers in our stores based on their preferences.” -Ayman Beydoun, Chief Operating Officer of BFL Group

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CLOUD BASED POS

Acrelec Offers Oracle Simphony POS Users a Customizable Kiosk Suite

ACRELEC | July 04, 2022

Acrelec, a leading provider of end-to-end restaurant technology and an Oracle Partner Network (OPN) member, announced that its kiosk solutions are now available for customers to access on Oracle Cloud Marketplace. Acrelec Kiosks can now be integrated with Oracle MICROS Simphony Point-of-Sale systems (POS). Oracle Cloud Marketplace is a centralized repository of enterprise applications made available by Oracle and its partners. Acrelec Kiosks assist operators in providing an enhanced customer experience while increasing sales and transactions in-store. Integrating with Oracle MICROS Simphony POS expands restaurant groups' kiosk capabilities beyond the screen. The Acrelec app assists restaurants in the following ways: Reduce traffic and wait times by removing bottlenecks and processing multiple orders at once. Relocate labor to the front counter so that the staff can concentrate on customer satisfaction rather than order taking. Profit from a hardware-software platform based on Acrelec's proven experience working with the top Quick Service Restaurant (QSR) brands. Use AI-based product recommendations, A/B testing, and data analytics to gain insights into buyer behavior and deliver business results that boost sales and throughput. With Glory CI's cash recycling solutions, you can accept cash transactions and process more transactions through kiosks. Oracle Cloud Marketplace is a one-stop-shop for Oracle customers looking for reliable business applications that provide innovative business solutions. Oracle Cloud is an enterprise cloud that provides massive, consistent performance and next-generation security across a broad range of services such as SaaS, application development, application hosting, and business analytics. "Acrelec's kiosk solution integrated with Oracle MICROS Simphony POS allows us to extend our capabilities further so more customers will have access to world-leading technology, Our commitment to innovation combined with this integration enables Oracle customers to benefit from our state-of-the-art customizable kiosk solutions. As a trusted partner of the world's largest QSR brands for over a decade, we look forward to leveraging our work with Oracle to power the world's leading smart stores and drive business results." -Thibaud Denolle,Innovation & Marketing Director, Acrelec.

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POS RETAIL

Verizon Partners with MasterCard and FNBO to Launch Credit Card for Small Business

Verizon | June 20, 2022

Verizon announced its partnership with MasterCard and First National Bank of Omaha (FNBO) to launch a credit card designed to bring value to small business owners. Existing Verizon Business wireless customers with fewer than 100 lines and an online account will be eligible to apply for the Verizon Business MasterCard®, which rewards purchases of qualified office supplies, technology, fuel, and other business expenses in the coming weeks. Tami Erwin, CEO of Verizon Business, said, "MasterCard has been a key partner to us on our journey to help our customers of all sizes transform their businesses and ensure they are truly future-ready. We are pleased to expand this partnership to include FNBO and bring this small business credit card to our customers at a time when we know they are seeking new avenues to expand their business, manage costs and maximize their use of new technologies to solve challenges to drive growth." Benefits and features of the card will include: Earn rewards on eligible business purchases* Get more for your business New cardholder bonus Fill your digital toolbox Assess your digital footprint Safe & secure payments experience This new service results from a multidimensional collaboration between Verizon Business and MasterCard to assist provide solutions for the global payments and commerce ecosystems. The world's leaders are continuing to collaborate to combine Verizon's 5G connection with the strength of Mastercard's network. "We're proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits." -Chiro Aikat, Executive Vice President, Products & Engineering, North America at Mastercard Jerry J. O'Flanagan, Executive Vice President, Partner Segment at FNBO, said, "FNBO has a rich history of helping small businesses grow and succeed, so we are excited to partner with such a respected brand as Verizon on the launch of their first program for small business."

Read More

POS RETAIL

Leading International Off-price Retailer beaconsmind AG Relies on beaconsmind Solution.

Beaconsmind | June 21, 2022

Beaconsmind, a leading location-based marketing and analytics SaaS provider, signs contracts with BFL Group as a new client. The company is known as the world's leading off-price retailer in the fashion, gaming, and household goods industries. Brands for Less, Toys for Less, Homes for Less, and Mumuso are all part of the BFL Group. It is Tchibo's primary partner in the MENA region. Beaconsmind's solutions will be extended to BFL Group's brick-and-mortar stores in the future. This will result in the brand having 80 stores in the UAE, Lebanon, Oman, Qatar, Kuwait, and Malta. The collaboration with BFL Group led to beaconsmind's partnership with the Seed Group. The Seed Group is a subsidiary of Sheikh Saeed Bin Ahmed Al Maktoum's Private Office, a member of Dubai's ruling family. This collaboration provides access to the royal family's companies and business contacts in the UAE and the MENA region. By connecting the BFL mobile app with the beaconsmind Suite software, beaconsmind assists BFL Group in connecting its brick-and-mortar retail offers with those in online retail. Through new interaction and communication channels, BFL Group can increase cross-selling and offer customers tailored offers based on their purchase and visit history at the point of sale. Personalization of offers increases customer loyalty and enhances the customer experience. BFL Group also benefits from all location-based data collected from app users, allowing it to respond to customer requests in-store or anticipate market trends and respond with relevant offers. “The BFL Group is already one of the world's leading off-price retailers and continues to expand. We are very pleased to be able to accompany them and provide dynamic growth impulses with our solutions. " -Max Weiland, Chief Executive Officer of beaconsmind “With beaconsmind's solution, we are committed to opening a new marketing channel within our omnichannel mix, to better reach our app users and improve their shopping experience. We believe in a customer`s first strategy and with a local, targeted customer approach we are able to offer even more benefits and shopping excitement to our customers in our stores based on their preferences.” -Ayman Beydoun, Chief Operating Officer of BFL Group

Read More

CLOUD BASED POS

Acrelec Offers Oracle Simphony POS Users a Customizable Kiosk Suite

ACRELEC | July 04, 2022

Acrelec, a leading provider of end-to-end restaurant technology and an Oracle Partner Network (OPN) member, announced that its kiosk solutions are now available for customers to access on Oracle Cloud Marketplace. Acrelec Kiosks can now be integrated with Oracle MICROS Simphony Point-of-Sale systems (POS). Oracle Cloud Marketplace is a centralized repository of enterprise applications made available by Oracle and its partners. Acrelec Kiosks assist operators in providing an enhanced customer experience while increasing sales and transactions in-store. Integrating with Oracle MICROS Simphony POS expands restaurant groups' kiosk capabilities beyond the screen. The Acrelec app assists restaurants in the following ways: Reduce traffic and wait times by removing bottlenecks and processing multiple orders at once. Relocate labor to the front counter so that the staff can concentrate on customer satisfaction rather than order taking. Profit from a hardware-software platform based on Acrelec's proven experience working with the top Quick Service Restaurant (QSR) brands. Use AI-based product recommendations, A/B testing, and data analytics to gain insights into buyer behavior and deliver business results that boost sales and throughput. With Glory CI's cash recycling solutions, you can accept cash transactions and process more transactions through kiosks. Oracle Cloud Marketplace is a one-stop-shop for Oracle customers looking for reliable business applications that provide innovative business solutions. Oracle Cloud is an enterprise cloud that provides massive, consistent performance and next-generation security across a broad range of services such as SaaS, application development, application hosting, and business analytics. "Acrelec's kiosk solution integrated with Oracle MICROS Simphony POS allows us to extend our capabilities further so more customers will have access to world-leading technology, Our commitment to innovation combined with this integration enables Oracle customers to benefit from our state-of-the-art customizable kiosk solutions. As a trusted partner of the world's largest QSR brands for over a decade, we look forward to leveraging our work with Oracle to power the world's leading smart stores and drive business results." -Thibaud Denolle,Innovation & Marketing Director, Acrelec.

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