Can eCommerce Overcome The Strain Of COVID-19?

pymnts | April 01, 2020

While it is the only option for many retailers, eCommerce is running into its own limitations under the pressure of the COVID-19 crisis. And as those limits become evident, some strategies to navigate them are also coming to the fore. The most concerning news about those limitations comes as retailers get a handle on how and why eCommerce orders have spiked since stores started closing at the end of February. Those estimates have varied, and have not delineated between essential and nonessential retail. Listrak has reported a 40 percent jump for eCommerce since the state of emergency was declared on March 12. The increase started in February, with online orders up 108 percent year over year, according to Quantum Metric. However, average order value (AOV) decreased 31 percent, suggesting that shoppers are buying on impulse.

Spotlight

Speed, ease of use and convenience define the customer experience today for both retail and commercial clients. In this video, First Data’s Christian Ofner and Eric Smith explain what retail and commercial customers expect from banks today—and you might be surprised to find they have similar needs. They also share how banks should enhance the experience.


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RESTAURANT POS

Givex Hong Kong Announces Launch of GivexPOS in Fine Dining Restaurant with Three Michelin Stars

Givex | July 14, 2022

Givex Information Technology Group Ltd. announced today the upcoming mid-July launch of GivexPOS in a fine dining restaurant with three Michelin stars in Hong Kong, the first in a five-unit, multi-branded restaurant group. "In the last 20 years, Givex has proven to be a global tech leader, with more than 100,000 active locations that utilize our POS, gift card, loyalty and other products, Our recent new partnerships in Hong Kong show that GivexPOS is successful in markets across the globe, and in all types of restaurants, from QSRs to fine dining establishments and everything in between. Givex delivers the technology innovation that our partners strive for, We are thrilled to be expanding our reach in Asia, and look forward to being a key partner in our clients' growth." -John Sydoruk, Givex Managing Director, AsiaGivex. Givex is a comprehensive global customer engagement and business insights platform. In addition to GivexPOS, Givex offers gift card and loyalty programs, payment systems and robust analytics to help its clients make efficient business decisions. The recent partnerships in Hong Kong mark the next step in Givex's continued international growth. About Givex- Givex (TSX: GIVX;OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 100,000+ active locations across more than 100 countries.

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POS SOLUTIONS

TCGplayer to Acquire ChannelFireball and BinderPOS

TCGplayer | July 12, 2022

TCGplayer, the leading technology platform for the collectibles industry and operator of the largest online marketplace for trading card games, today announced that it has entered into a definitive agreement under which TCGplayer will acquire ChannelFireball and BinderPOS, uniting the most iconic brands in the trading card game (TCG) industry. Launched in 2009, ChannelFireball established itself as the premier content provider and events coordinator for the TCG industry, providing professional strategy advice to millions of TCG collectors, hobbyists, fans and players, and hosting large-scale competitive tournaments around the world. In 2020, ChannelFireball merged with BinderPOS — a leading inventory management and point-of-sale (POS) solution for hobby stores — to create CFB Group. Today, hundreds of retailers around the world rely on BinderPOS as an inventory management solution, which processes approximately $200 million of gross merchandise value (GMV) on an annual basis. "Together with ChannelFireball and BinderPOS, we will deepen the connection between collectors and retailers via online and physical store channels, accelerating a strategy that has been front and center to us since our founding, For the first time ever, TCGplayer will provide a comprehensive POS solution that seamlessly connects a hobby store's inventory to the TCGplayer Marketplace while also enabling the sale of any collectible on their store's shelves — including comic books, sports cards and board games. As a combined entity, we will also merge the industry's best content with the world's largest marketplace for TCGs. By bringing together our world-class expertise, infrastructure and scale in this way, we expect to deliver value to our community in new and exciting ways. As a combined company, we will work together to advance TCGplayer's Purpose — connecting hobbyists to communities to relentlessly improve the exchange of things and thoughts that fuel their passions. This Purpose is core to both companies and critical to creating a shared organization with a common goal of empowering sellers and delighting hobbyists across the collectibles universe. We have long admired the ChannelFireball and BinderPOS team and look forward to welcoming this talented group of professionals to TCGplayer. I am confident that through this combination, we will create enhanced opportunities for team members, hobbyists, sellers and all our shared partners." -Chedy Hampson, Founder and CEO of TCGplayer. By combining with TCGplayer, ChannelFireball and BinderPOS will enhance our ability to serve the TCG community, joining a team with a shared vision, culture and complementary strengths, said Jon Saso, President of CFB Group. "The ChannelFireball and BinderPOS team should be incredibly proud of what we have accomplished and excited for the opportunities ahead of us as we join with TCGplayer. I look forward to working with the TCGplayer team as we bring our companies together. This transaction marks an exciting milestone for ChannelFireball and BinderPOS, said Josh Grant, CEO of CFB Group. Joining forces with TCGplayer will position us to deepen our commitment to local game stores, expand the platform's reach, and create a larger and more diversified company with a shared TCG legacy. Together, we will have a larger and more meaningful impact on our community, and I look forward to seeing all that we accomplish as part of the TCGplayer team. Under the terms of the agreement, TCGplayer will acquire CFB Group's BinderPOS, its ChannelFireball content arm, the ChannelFireball Marketplace and its ChannelFireball Events operating segment. The combination will deepen the value TCGplayer, ChannelFireball and BinderPOS will be able to offer hobbyists, retailers and collectors, allowing the combined company to unite and integrate its complementary features for the benefit of the collectibles industry. Additionally, the transaction will accelerate TCGplayer's vertical expansion strategy, taking the Company beyond its core trading card game business and into new hobby collectible categories like comic books and sports cards. About CFB Group- Launched in 2009, ChannelFireball established itself as the premier content provider and events coordinator for the TCG industry. The Company's content offering provides professional strategy advice to TCG collectors, hobbyists, fans and players while its ChannelFireball Events segment hosts dozens of large-scale competitive tournaments around the world. Following the creation of CFB Group in 2020, which brought together ChannelFireball and BinderPOS — the leading inventory management and point-of-sale (POS) solution for hobby stores — the Company launched the ChannelFireball Marketplace. About TCGplayer- TCGplayer is the leading technology platform for the collectibles industry. Founded as a digital media company specializing in trading card games within the collectibles space, TCGplayer has grown from its initial roots working with Syracuse-based hobby stores into an expansive ecommerce platform. The Company develops applications, data management tools and technologies like robotics automation that are revolutionizing the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe. A purpose-driven company, TCGplayer prides itself on creating a culture that fosters camaraderie, embraces diversity and exudes passion. It has been ranked among New York State's 50 best employers, Fortune.com's top 100 companies for women in the U.S. and certified a Great Place to Work by its employees.

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POS SOLUTIONS

Sionic Launching Free CODE Pay Mobile App for Local Merchants

Sionic | July 13, 2022

Sionic , a leading provider of omni-commerce, consumer-to-business payments solutions, today announced it is launching a free mobile app for local merchants to accept real-time, bank-to-bank, lower-cost cash deposits from customers at the point of sale. “We are excited to give local merchants a fast and easy way to accept real-time payments from customers, The app works with any point of sale and also gives merchants a simple way for customers to order and pay ahead for either in-store or takeout consumption.” -Erica Burris, VP Strategy and Product for Sionic. CODE Pay uses Sionic’s new Pay-by-Bank solution enabling real-time cash deposits for merchants at checkout while bypassing expensive card swipe fees. The mobile app and service helps local merchants combat inflation by offsetting rising labor and food or merchandise costs. Sionic is also offering local merchants a bundled service for convenient processing of both bank and card payments with consolidated, instant reporting and analytics all from their mobile device using CODE Pay. About Sionic- Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants. A Google Cloud service, Sionic's market-first ULink™ is bringing real-time direct deposits to the point of sale via mobile, online, in store or in vehicle experiences. The company has partnered with top financial institution owners of The RTP Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.

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POS SOLUTIONS

Promenade Launches Point of Sale Management Solution for Florists Across America

Promenade | July 18, 2022

Promenade Group today announced a streamlined, integrated business management platform for florists with the availability of BloomNation powered by Promenade POS. Complementing the acclaimed capabilities of the BloomNation e-commerce storefront solution, Promenade POS eliminates the complication of running online and in-store sales separately. Operating as a single platform, BloomNation powered by Promenade POS allows florists to run their flower shop with a complete set of management solutions for ordering, delivery, invoicing, proposals, and more. Originally called BloomNation, Promenade Group has spent 12 years working with local florists and understanding what shop owners need to successfully run a business. Promenade POS was built from the ground up specifically for florists – the complete platform provides the tools to manage online and in-store orders, build relationships with customers, run the back-office business, and generate repeat business. "Florists are creative artists, focused on designing beautiful arrangements that touch people's hearts and celebrate every day and special occasions, Promenade is committed to providing solutions that simplify and streamline business management tasks with a tightly integrated POS and e-commerce storefront allowing florists to focus on what they do best." -Farbod Shoraka, co-founder and CEO of Promenade. The Promenade POS solution allows florists to better manage inventory, response time, and fulfillment process with one place to store, organize, find, and process both e-commerce and in-store orders. The POS system is designed to improve efficiency and simplify back-office operations for florists. Additionally, it provides a solution to quickly respond to changing market dynamics with a cloud-based solution managed and continually updated by Promenade. Promenade's tightly integrated POS solution and online storefront put the power and time back in the hands of florists and allows them to do what they do best – impress and delight customers with creativity and service. Promenade POS and the e-commerce storefront enables florists to: Take orders anywhere, anytime, and on any device — in-store, online, or in the back office Accept any debit/credit card (Visa, MC, Amex, Discover), or accept contactless/NFC, magstripe or chip cards with the Promenade POS in-store card reader Easily manage house accounts and bill monthly or on-demand Organize and send detailed invoices to clients—with online payment options Build branded, customized proposals for large events and weddings, and follow up with an invoice Manage customer data within a sophisticated, built-in CRM system Provide data security and privacy with Stripe integration and private cloud deployment About Promenade Group- Promenade started as BloomNation in 2010 with a clear vision of empowering local businesses with the technology, knowledge, and support to attract and retain customers with a best-in-class experience. The Promenade e-commerce platform offers an intuitive online sales and shopping experience for thousands of neighborhood businesses across the country. From flowers to food to liquor, Promenade empowers small business owners with the tools they need to reach new customers, grow online sales, and easily manage both online and in-store orders.

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Spotlight

Speed, ease of use and convenience define the customer experience today for both retail and commercial clients. In this video, First Data’s Christian Ofner and Eric Smith explain what retail and commercial customers expect from banks today—and you might be surprised to find they have similar needs. They also share how banks should enhance the experience.

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