The Continued Rise Of eCommerce Shopping In Challenging Times

pymnts | April 08, 2020

Online grocery sales have spiked because of the coronavirus, but the sector had been heading toward a breakout year. It’s a tough call as to whether eCommerce will “stick” when the crisis situation is over. And new data shows that eCommerce sales will show a large increase as March earnings reports begin to emerge this week, with recent consumer spending and supply chain concerns appearing to be non-factors in growth. All this, Today in Data. Imagine if your business was planned in this way: minimal revenue for Q1, and maximum revenue for Q2. And for Q2, an unprecedented pandemic has moved people away from each other and toward perhaps the biggest economic rescheduling exercise in modern history.

Spotlight

Macy's is closing more stores. It's the latest sign of how tough it is for companies like JCPenney, Sears and Kohl's to compete with Amazon and bargain retailers.


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POS SOLUTIONS

MySize Launches FirstLook Smart Mirror, the Ultimate Omnichannel Solution for Retailers

MySize, Inc. | February 04, 2022

MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"), the provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, is pleased to announce the availability of its FirstLook Smart Mirror, an interactive, mirror-like touch display that provides shoppers in physical stores with an enhanced, online shopping experience and contactless checkout. The MySizeID FirstLook Smart Mirror was introduced and garnered a positive reception recently at the National Retail Federation (NRF) 2022: Retail's Big Show on January 16-18, 2022 at the Jacob K. Javits Convention Center in New York City. In partnership with GK Software (previously announced in November 2021) MySize has already integrated the MySizeID solution to coud4retail by GK Software, and now lunched the MySizeID FirstLook Smart Mirror provides an interactive, mirror-like touch display that allows brands to provide in-store customers with an enhanced, online shopping experience, contactless checkout and get the recommended size . GK Software has more than 359,000 installations in over 65 countries, as a major player in the international market for retail solutions. The MySizeID FirstLook Smart Mirror seamlessly fits into any retail environment, whether in the fitting rooms (version with no camera) or other high-traffic, strategic locations. Highlight capabilities of the FirstLook Smart Mirror include: 3D "Try-it-on" interactive avatar experience: Life-like, personalized display of an item's exact fit on each customer's body. Personalized and highly accurate size recommendations by MySizeID: Shoppers scan a barcode in-store and receive a size recommendation for the specific apparel item, via their MySizeID profile. Third-party POS systems integration: Access and share data on inventory, sizing, and pricing. Styling recommendations: Provide upsell opportunities with "complete-the-look" styling and apparel personalized recommendations. All based on available inventory and shoppers' preferences. Contactless "select and collect" at the register feature: Selected items are brought to specific POS locations within the store (SmartMirror kiosk, Checkout point, fitting room etc.), for a seamless, hassle-free checkout.\ "The MySizeID FirstLook Smart Mirror has the potential to revolutionize the fashion retail buying experience in the store. It is our first product solution addressing in-person retail shopping. The MySizeID AI-driven measurement and data algorithms drive the FirstLook Smart Mirror in helping increase sale conversions and reduce returns at the physical store retail environment. The retail price ranges between $8,000-$12,000 up front plus a $160 recurring monthly service fee (the price range is based on features, such as speakers, camera, frame and stand). Our sales team and partners are looking forward to demonstrating it for existing, new and prospective clients." -Ronen Luzon, Chief Executive Officer of MySize MySize is the developer of a unique sensor-based measurement technology and the owner of several patented algorithms that capture and calculate measurements in different ways. The Company's technology is one of a kind in its agility, fitting our algorithm to different markets and verticals. MySize is helping eCommerce retailers on multiple platforms, such as Shopify, WooCommerce, Bitrix, and LightSpeed, alongside leading brands such as Levi's, Speedo, US Polo and Boyish Jeans. About MySize, Inc. MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways.

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POS HARDWARE

BeSmartee’s Mortgage POS Integrates with Freddie Mac Loan Product Advisor® to Simplify Loan Origination and Reduce Fallout

BeSmartee | January 11, 2022

Digital mortgage point-of-sale (POS) provider BeSmartee has partnered with Freddie Mac to integrate its automated underwriting system (AUS), Loan Product Advisor® (LPAsm), to provide lenders with smart automation tools that help boost production and improve the borrower experience. BeSmartee’s direct integration with LPA’s advanced underwriting technology will improve workflow operations by automating risk assessment, including asset and income data review, using the lender’s own AUS credentials. Additionally, lenders will be able to leverage rich data visualization features to derive actionable insights and formulate intelligent business decisions, a collaboration which will offer both lenders and borrowers frictionless loan automation solutions. "We are thrilled to put Freddie Mac's LPA right into the hands of consumers within the BeSmartee Point-of-Sale to deliver a true digital mortgage pre-approval that is completely self-serve, The team at Freddie Mac are world-class and have supported the relationship each and every step of the way." -Tim Nguyen, CEO and Co-founder of BeSmartee. “We’re very excited to partner with BeSmartee to offer our automated underwriting capabilities within their digital mortgage platform, Providing consumers and lenders more options up-front improves the chances for lower costs, faster closings and repeat business.” -Christina Randolph, Director, Business Partner Strategy & Integration at Freddie Mac. About BeSmartee Leading Fintech firm BeSmartee® disrupts the financial services industry with its award-winning, web-based digital mortgage platforms for banks, credit unions and non-bank lending institutions. BeSmartee delivers a complete digital mortgage experience that goes deeper into the origination process to help lenders convert higher and close faster — making a once-cumbersome experience easy, fast and transparent for all.

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POS HARDWARE

Convenience Stores Own the Third-Party Delivery Channel with Paytronix Handoff(SM)

Paytronix Systems, Inc. | February 23, 2022

Delivery aggregators and online-only platforms are moving quickly into the convenience store market. Today Paytronix Systems, Inc., the most advanced digital guest experience platform, announced that Paytronix HandoffSM is ready for retailers to manage digital ordering information across all channels. Handoff makes it easy for retailers and restaurants to publish a menu of items out to the various delivery aggregators and then manage inbound orders through a single tablet or Point of Sale system. Handoff provides c-stores with complete control over how items are viewed, described, and priced regardless of through which channel those items appear, including on DoorDash, Uber Eats, Postmates, and GrubHub. This helps c-stores add incremental sales to each location while streamlining operations, ensuring order integrity, and increasing customer satisfaction. According to data from Edison Trends, convenience store online spending grew by 346% in 2020, outpacing growth in both grocery and restaurant categories. The same report notes that DoorDash is the big player in the market. Paytronix Handoff works with the most popular POS systems and leading third-party digital delivery platforms to: Eliminate the need to continually check multiple tablets for information; Digitally connect third-party aggregators with internal POS systems and store operations; Provide a single point of entry for all online orders as they come in; and Enable store-level employees to more easily manage stock digitally, thereby increasing customer satisfaction. “The c-store market is changing rapidly with third-party delivery platforms and online-only companies focusing on 15-minute delivery of center-store items, Traditional c-stores, with great locations on major transportation routes, have an opportunity to truly own this new order-ahead and delivery ecosystem, but they need the right systems in place to make it happen. Paytronix Handoff, and the full Order & Delivery offering, gives c-stores what they need to grab incremental sales and successfully compete against delivery-only brands.” -Paytronix CEO Andrew Robbins. Employing the latest cloud technology, Paytronix enables rapid processing of digital orders. It has an easy-to-use ordering interface, digital ordering management tools, more than a dozen POS integrations, and the best loyalty integration on the market today. In addition, Paytronix has established partnerships with premier third-party aggregators. Paytronix Systems, Inc. Based in Newton, Massachusetts, Paytronix is a provider of SaaS customer experience management (CXM) solutions for restaurants and convenience stores. Through its innovative software design and integrations with more than 30 widely used point-of-sale systems, Paytronix empowers more than 1,800 brands across 34,000 locations, giving them the flexibility to deliver unique, revenue-enhancing guest experiences. Through one-to-one engagement with more than 285 million guests via Order & Delivery, Loyalty, CRM, and Stored Value, Paytronix delivers artificial intelligence features that motivate increased visits and spending throughout the customer journey.

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POS SOLUTIONS

GoTab Partners with Mastercard to Enhance the Digital Checkout Experience

GoTab | April 04, 2022

Restaurant commerce platform, GoTab, today announced it is partnering with Mastercard to transform the digital payment experience at hospitality venues across the U.S. with the implementation of Click to Pay – a payment solution that makes checkout easier by eliminating the need to manually enter card details. Click to Pay offers consumers a more convenient and secure guest checkout experience across devices and channels. Built on EMV® Secure Remote Commerce industry standards, Mastercard Click to Pay makes it easier and safer for consumers to check out online without having to remember passwords or manually enter card details each time. For returning users, intelligent recognition puts preferred cards at their fingertips, with the highest levels of convenience – no need to manually enter details and no new button to press. With a payment platform embedded into checkout, all cards can be managed in a single secure profile and automatically updated. Mastercard also uses tokenization, when available, to encrypt personal information, helping consumers shop with peace of mind while reducing fraud and false declines. After opening a tab on a smartphone (via a QR code) at GoTab-operated venues, customers can select to save their Mastercard payment information to Click to Pay, where their Mastercard payment information is automatically saved, providing them with the opportunity to add food and drinks to their tab, or close their tab without having to worry about re-entering payment details. Once diners are ready to leave, their tab is automatically charged to their Mastercard, providing a quick and secure checkout experience. Consumers can also opt to keep their Mastercard on file within their GoTab profiles to quickly pay at any GoTab-operated venue. "We strive to help our operators enhance the guest experience. Mastercard Click to Pay is the perfect solution to simplify and make the checkout process easier, faster, and completely seamless. As we get ready to process $1 billion in GMV in 2022, we are honored to work with Mastercard to enable our operators to deliver a safe and enjoyable guest experience." GoTab CEO Tim McLaughlin GoTab recently introduced Click to Pay across various Stone Brewing locations in California and Virginia. "We've had a very successful run with GoTab and Mastercard Click to Pay across all of our taprooms and bistros," said Gregg Frazer, VP of Hospitality for Stone Brewing. "Our guests were already big fans of GoTab, but the convenience and security of Click to Pay made the payment experience even better." Started in 2016 as an e-commerce solution for on-premise ordering, GoTab has since evolved into a comprehensive restaurant commerce platform, with full POS, kitchen operations and delivery capabilities. A true cloud-based solution, GoTab allows guests to order and pay directly from their smartphone without having to download an app or create a password. Operators can also rely on GoTab's POS, contactless ordering and payment features, and kitchen management systems (KMS) to run efficient, profitable operations. The full GoTab POS can easily be integrated and works with countless best-of-breed solutions for a continued focus on the core real-time operational experience. GoTab's partnership with Mastercard is slated to evolve and bring Click to Pay technology to all GoTab-operated venues. Restaurant operators can upgrade their payment experience and offer a new secure checkout experience to their customers. About GoTab, Inc. GoTab, Inc., a Restaurant Commerce Platform (RCP), is helping large- and mid-sized restaurants, breweries, bars, hotels and other venues run lean, profitable operations while making guests even more satisfied. It integrates with popular point-of-sale (POS) systems and allows patrons to order and pay through a server, order and pay directly from their own mobile phones, or blend the two experiences all on one tab, through its easy-to-use mobile POS, contactless ordering and payment features, and kitchen management systems (KMS). The guest never has to download a mobile app or create a password. Operators get flexible features that can be rapidly applied to access new revenue streams via dine-in, take-out and delivery, ghost kitchens, retail groceries, and more. Founded in 2016, GoTab processes over $250M transactions per year with operations across 35 U.S. states and growing.

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Spotlight

Macy's is closing more stores. It's the latest sign of how tough it is for companies like JCPenney, Sears and Kohl's to compete with Amazon and bargain retailers.

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