POS and Retail

A borderless, interoperable global payments system makes it harder for vendors to charge high prices while forcing more innovation, writes Normand Provost, liaison chair of Nexo.

Adobe Systems Inc. agreed to buy e-commerce company Magento for $1.68 billion, in a bid to capture a bigger slice of the digital-commerce industry from Salesforce.com Inc. and Oracle Corp.

Development is happening in places besides London and Silicon Valley, and that will give payment companies and financial institutions a wider range of technology solutions and partners, according to Aidan Hayes, senior vice president of financial services and technology for Enterprise Ireland.

E-commerce payment fraud losses are mounting, giving merchants the opportunity to dump responsibility on their technology partners, but there's no surefire way to totally offload the financial hit.

With the use of global standards, merchants can also strengthen and consolidate their relationships with vendors and minimize expenditure on hardware and software solutions and maintenance, writes Normand Provost, liaison chair of Nexo.

Businesses are already entering partnerships with some of the biggest players in the Chinese payments market, such as AliPay, and WeChat Pay, with the goal of offering tourists the ease of payments that they are accustomed to, writes Igal Rotem, CEO of Credorax.

For Whole Foods, the potential to tap into the sheer volume of new customers via the Amazon Prime premium loyalty program is unprecedented, writes Tom Caporaso, CEO of Clarus Commerce.

PayPal has agreed to acquire iZettle—often called the Square of Europe—in a move that could blunt Square’s prospects in key markets.

Both executives have changed the cryptocurrency narrative with supportive statements, but attracting merchants to a payments market will require work.

The reality behind the confusing "05: Do Not Honor" refusal is some issuers (or their processors) do a poor job of returning the appropriate refusal reasons to the merchants, writes Chris Laumans, product owner at Adyen.

Walmart Inc. has ended a service where customers could ring up their own purchases, showing that old habits die hard even in the digital age.

Retail and hospitality payments software provider Veea Inc. is partnering with cross-border mobile payments provider Citcon to allow businesses using Veea services in the U.S. to accept Alipay and WeChat Pay mobile payments.

Prime customers, who pay an annual fee for benefits such as free two-day shipping and access to Amazon’s video and music library, will now also get discounts at the upscale, organic supermarket that Amazon bought last year.

Bitcoin has morphed into a store of value rather than the “digital cash” of its original promise, and we’d be naïve to think it wouldn’t stray from its original plan. Bitcoin cash has the potential to act as a vehicle for cryptocurrency's original intent, writes Nishant Sharma, Bitmain's international marketing manager.

Plate IQ has integrated its automated accounts payable technology for restaurants with the new Square for Restaurants point-of-sale system.

Chase will have its place on the BigCommerce platform soon, as retailers will be able to accept Chase Pay on their online stores this summer.

Within sports venues, providers want to handle payments and integrate loyalty and other services through every facet of the ballpark and teams operating those facilities.

The open banking model is not very different from what Amazon brought about in retail. Banks have little choice but to embrace the concept, according to Nick Frankland, managing director of fintech at Legal and General.

If an organization can’t evolve to create the level of customer experience expected, someone else will, writes Jay King, president of financial services for Alorica.

Many technology developers yearn to invent the future of payments through software, but Toast is also reaching to the past by trying to perfect the hardware that surrounds the new digital tools.