Mercury CEO Matt Taylor told his audience at Money 2020 that merchants are ready to embrace the “smart device era.” Taylor gave his presentation “PayPal, POS & Main Street Realities: Split Bread’s Merchant Experience” at the second annual event that showcases trends in payment and financial services, this year held October 6-10 at the Aria Resort and Casino in Las Vegas.
A Mercury survey shows merchants place a high priority seamless integration of solutions, closely followed in priority by support for billing and for gift or loyalty programs. Merchants also say they are looking for guidance in areas of response to need, cost, and technology.
Taylor stressed that merchants — 65 percent of whom are planning to upgrade their POS systems in the next three years — need their solutions providers to be trusted advisors as they face the challenges of new technologies and new consumer demands.
Executives from Split Bread, PayPal, and ShopKeep, joined Taylor for the presentation. David Silverglide of Split Bread showed how online ordering using QR codes has increased the company’s annual revenue. Todd Lasher of Shopkeep talked about how POS enables new services and technology, and ISVs are developing new tools. He pointed out POS is the operating system for merchants and the integration point of value-added services. Josh Goines, head of retail mobile development at PayPal, said smartphones have become a part of our lives and consumers want simple and secure transactions.
Taylor said the changing POS market gives VARs the opportunity to create new recurring revenue streams and, at the same time, help merchants move forward with plans for new technologies — like bundling gift card, loyalty program, and digital signage solutions or helping omni-channel merchants with solutions for mobile and tablet POS and email programs.
He said the value chain — merchant, dealer, developer, processor, bank, and issuer — is evolving. He asked, “Are we channel ready?”