January 22, 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 has attended NRF’s Retail’s Big Show for many years and had covered the event extensively in 2015, especially focusing on the payments industry. Here we are back again with updates from the 2016 event.
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 audience about all the payments news at such a big event. NRF's 105th Annual Convention & EXPO was a fantastic success - with 33,500 attendees, numerous international delegations, hundreds of sessions and miles of EXPO. FinTech had a big participation in Retail’s Big Show 2016. FinTech startups and companies from around the world were present at the event in New York City. The big list includes companies like Adyen, Affirm, ACI Worldwide, Volumatic, First Data, JCB International, Cayan, Lillii RNB, Inc., FreedomPay, Lightspeed and many others. If you missed attending the event or couldn’t follow up on the updates, here’s a summary of the biggest announcements in the payments and commerce industry at Retail’s Big Show 2016.
Samsung Electronics America, announced new solutions designed to empower retailers in real-world environments, from attracting customers at the storefront to driving business efficiencies in the back office. Technologies ranging from commercial displays to tablet based POS were displayed in the Samsung booth #2062 at the Jacob K. Javits Convention Center from January 17-19. Samsung’s innovative POS solutions will streamline the transaction process, allowing retailers to more efficiently ring up transactions, track sales and view analytics. They permit staff to be mobile and address customer needs from anywhere on the showroom floor, including:
Stationary Point of Sale – This solution includes a payment terminal, cash drawer, mounted cash register and receipt printer in an enterprise grade enclosure by Armor Active. Driven by eMobilePOS software from e-Nabler that interfaces with backend ERP systems and anchored by a Samsung tablet, this POS solution also features Samsung Pay redemption on the payment terminal. KOAMTAC Mobile Point of Sale with KDC500 mPOS Companion – Their KDC500 mPOS Companion provides both mobile point of sale capabilities and an inventory management scanner. Samsung Pay – Samsung Pay, the most accepted mobile payment system that works at the majority of merchants today, was demonstrated with the new gift card feature. Samsung Pay now supports 50 popular merchant gift cards as well as a gift card store that enables users to buy gift cards from supported merchants Hipaax TaskWatch Associate Notification System with Samsung Gear S2 – A hands free salesforce can be connected with real-time information that enables it to deliver exceptional customer service.
Ingenico Group, global leader in seamless payment, announced the official launch of its new brand, Ingenico ePayments on the 2nd day of the event, January 18th. Ingenico Group's online and mobile commerce division combines the former Ogone and GlobalCollect organizations, merging capabilities and offerings, and providing merchants around the world with enhanced end-to-end products and services. The launch of the Ingenico ePayments brand will complete the integration process and enhances the Group's position within the ePayments industry.
Ingenico ePayments enables over 150 different payment methods in more than 170 countries. It offers merchants advanced data analytics through its business intelligence tool Elevate, as well as fraud management solutions and cross-border commerce expertise. Ingenico ePayments also provides advanced integration and mobile-optimized checkout solutions through Ingenico Connect, making it easier for merchants to offer payment options on more devices.
On Day 2, 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.
Consumer behavior and engagement in a retail setting is becoming more and more important. Retailers from every industry want to give their customers the best experience in everything and when it comes to payments, consumers are expecting a smoother process and are demanding digital payments as card transactions, digital wallets and contactless payments are becoming popular. The problem with existing self-service kiosks/platforms that have payments enabled in them is that they are not compatible with 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 claimed 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.
NCR Corporation, the global leader in consumer transaction technologies, is bringing a new solution to the U.S. petroleum and convenience store market to modernize the fuel pump experience and increase in-store sales. The announcement came in on Day 2 of Retail’s BIG Show. Through a relationship with Invenco, a leading global supplier of automation and transactional payment systems to the retail petroleum market, NCR will begin offering a large, touchscreen fueling experience at the pump. The new solution puts the retailer in the driver’s seat for content ownership and management.
NCR Outdoor Payment Terminal allows retailers to control their own content. It supports a wide range of payment options including debit, credit, "tap and go", loyalty, vouchers and coupons and is small enough to fit into all major fuel pump manufacturer models. With a large, graphical display, retailers can provide customers with easy-to-follow user instructions, promotional advertising, brand-building messages and also drive consumers to shop in-store.
Aurus, Inc., a global leader in innovative payment solutions, and Toshiba Global Commerce Solutions, a global market share leader in retail store technology, demonstrated a flexible semi-integrated EMV payments solution to global retailers at the NRF Retail BIG Show 2016 on Day 3 of the event. The new solution takes the POS out of PCI Scope by providing security features such as P2PE and Tokenization. The solution enables merchants to accept EMV chip cards from 7 major payment processor platforms in the US plus new ways to pay such as Apple Pay, Android Pay and Samsung Pay.
Jay Stanley CIO of Marsh Supermarkets said in a publication,"With the new requirements to accept EMV Chip cards and Indiana E-WIC cards, Marsh Supermarkets turned to Toshiba to provide an innovative solution to achieve the deadlines while delivering a solid ROI. The innovative Toshiba and Aurus semi-integrated platform solution was selected as the best future based strategy to allow Marsh to successfully manage the rapidly evolving payment environment."
Verifone announced it has signed an agreement to acquire AJB Software Design, Inc., a Toronto-based provider of payment gateway and switching solutions for large merchants in the U.S. and Canada. The acquisition is expected to close in Q2 FY16. Approximately 150 large retailers in the U.S. and Canada rely on AJB’s on-premise gateway and other solutions to connect nearly half a million payment devices. AJB connects devices from Verifone and other providers to more than 100 processors and applications – such as government benefits, stored value cards, and fleet cards – required by supermarkets, c-stores and other merchants. Acquiring AJB will better enable Verifone and its partners (such as ISVs and acquirers) to deliver payment and commerce services that meet merchants’ demands for additional simplicity, security, flexibility and functionality.
Other FinTech demonstrations/news: - Posiflex demonstrated its XT Series of touch screen POS terminals which have a uniquely designed base with integrated options, including a wide range of peripheral connectivity, data redundancy and power backup.
- Zebra Technologies Corporation’s new Price Management Execution enables retailers to help implement price changes quickly and can feed back into the POS so the price on the shelf is the price at the cash register. In addition, Zebra’s new lightweight, ergonomic TC8000 Enterprise Mobile Computer can help increase the productivity of warehouse workers by an average of 14 percent based on workflow.
The overall conclusion from the NRF 2016 event was that FinTech and payments have been powering the entire retail industry for years and we saw the same atmosphere this year. As the payments industry is innovating in digital wallets, EMV and contactless payments, the retail industry is welcoming these new shopping experiences that delight consumers and help merchants manage their payments and in-store offerings better.