White Paper | June 28, 2012

Convergence & Opportunity In The Payments Industry

Source: Merchant Warehouse

Introduction

The tipping point is rapidly approaching for the retail point of sale. The fast pace of innovation in payment solutions, coupled with increased consumer expectations of speed and convenience will meet head on with the merchant’s need for flexible, highly secure and comprehensive payment processing solutions that optimize critical space at the point of sale and provide customers with more value and an optimal purchasing experience.

We have already begun to see a rapid proliferation of new payment types at the point of sale across all five merchant tiers. The traditional methods, such as cash, credit and debit cards are being augmented by new offerings including QR / retailer-specific eWallets, NFC (near field communication) and EMV (Europay MasterCard Visa), mobile couponing and merchant aggregators like PayPal and Google’s MobileWallet. Currently, the vast majority of merchants require multiple devices and systemsto process the various payment options, but this is neither feasible nor affordable for merchants. The need for payment convergence is the obvious imperative.

For value-added resellers and POS (Point of Sale) Developers looking to provide greater value to their merchant customers, this rapidly evolving market dynamic offers a unique opportunity as the payment solutions, technology platforms and payment processors are all coming together to offer unparalleled convenience and simplicity in new payment solutions. “This is an opportunity that crosses boundaries in terms of the merchant, reseller, or ISV size.” notes Dan Dufault, vice president of marketing at Merchant Warehouse, “The opportunity for all participants in the ‘POS ecosystem’ — merchants, consumers, payments solutions providers, POS developers, Value Added Resellers and issuers — is immediate and the perceived availability of additional value is clear.”

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