January 19, 2016
The National Retail Federation (NRF), the world’s largest retail association, is back again with its annual retail conference which is commonly known as Retail’s Big Show. The NRF’s Annual Convention & EXPO earned the nickname Retail’s BIG Show years ago and the name stuck because it was so appropriate. Today, Retail’s BIG Show is the NRF’s flagship industry event which is held annually in New York City. The four-day event offers unparalleled education, collegial networking and an enormous EXPO hall full of technologies and solutions. Let’s Talk Payments was present at NRF’s Retail’s Big Show in 2015 and covered the event extensively, especially focusing on the payments industry.
While we already gave you the top five updates in the payments space at Retail’s Big Show 2016, one story is just not enough to inform our audiences about the payments news at such a big event. The biggest announcement in the payments sector at NRF’s Retail’s Big Show 2016 Day 2 came from leading global POS provider Verifone and global provider of touchscreen solutions Elo as the event saw a successful second day opening in New York City.
One week after Verifone launched its new device and operating system-independent mobile point-of-sale (mPOS) payment terminal, PAYware Mobile e355 (which supports all major smart device options and accepts all payment types including EMV, NFC and Apple Pay), the company announced its partnership with Elo to upgrade Elo’s 20 million self-service platform installations across 80 countries as it will now be able to accept all types of payments and incorporate loyalty programs using a single mPOS terminal.
The problem with existing self-service kiosks/platforms that have payments enabled in them is that they are not very compatible with accepting all the payments types in one single device. For retailers to incorporate all the payments acceptance methods in one kiosk is very expensive. However, Elo claims to reduce the costs by partnering with Verifone’s e355 POS terminal.
This solution from Elo is expected to be made available to retailers in April 2016. The other part of this news is loyalty programs, which is another emerging sector of the payments industry. Most grocery outlets like Safeway and Harris Teeter in the US have loyalty program discounts and self-service kiosks in the store. The self-service kiosks at most Safeway outlets do accept most payments types (not Apple Pay and contactless payments) and have loyalty programs incorporated. Verifone’s competitor in POS terminals, First Data has also been working on integrating self-service kiosks and POS terminals at one place since a long time. However, this news from Elo and Verifone is a very big partnership in the payments and retail industry in terms of the number of installations by Elo worldwide.