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How Geofencing Can Help Your Merchant IT Clients Win Sales

An SMS geofencing campaign can be used in local marketing to attract customers to a brick-and-mortar store with close proximity tracking.

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POS & PAYMENT PROCESSING MAGAZINE ARTICLES

  • Stop Settling For POS Status Quo

    Seven years after first appearing in Business Solutions, this POS VAR is still breaking with convention — and is projecting $1 million in revenue growth this year.

  • How Big Apple Hospitality Mastered Manhattan

    In Manhattan’s fine dining microcosm, selling restaurant systems requires equal parts modern technology and old-school salesmanship.

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POS & PAYMENT PROCESSING EXECUTIVE COMMENTARY

  • The Changing Landscape Of Software And Payments
    The Changing Landscape Of Software And Payments

    Over the past 10 years we have seen the merging of two previously distinct businesses ‐‐‐ payment processing and retail software. Organizations such as Mercury Payments, Accelerated Payments and PayPros (now openedge), Braintree and Stripe have not only captured attention with major headlines but also massive financial valuations. Interestingly, much of the heavy lifting associated with the success of these organizations was performed by technology providers, software vendors and value added resellers (VARs).

  • Features Of A Loyalty Program That Will Help Your Merchant IT Clients Enhance Customer Experience
    Features Of A Loyalty Program That Will Help Your Merchant IT Clients Enhance Customer Experience

    Loyalty programs have earned a place in the toolbox of merchants that depend on repeat purchases from their customers. Repeat business is great, but there is an even better reason why loyalty programs are important: they save money.

  • Why Your Hospitality Clients Should Transition To EMV Now
    Why Your Hospitality Clients Should Transition To EMV Now

    There’s no such thing as traveling light today. Hotel guests are carrying a heavy load of sensitive financial information on their credit cards when they check-in. Just as they expect their hotel rooms to be comfortable and clean, they also expect their data to remain secure before, during and after their stay.

  • Disaster Strikes: 3 Critical Factors That Should Be A Part Of A Recovery Plan
    Disaster Strikes: 3 Critical Factors That Should Be A Part Of A Recovery Plan

    In the darkest days after a tornado in early May damaged 30 percent of Van, Texas, (a city outside of Dallas) residents were provided some relief when the Van High School “Vandals” baseball team beat North Lamar High School to go on to the state semifinals for the first time in program history.

  • What To Consider When Planning Your Business Exit Strategy, Part I
    What To Consider When Planning Your Business Exit Strategy, Part I

    One of the areas I spend considerable time on is helping business owners prepare for and then complete an exit from the business they often founded and have worked in for decades. Let’s get one thing straight:  It is a big deal for an entrepreneurial owner to exit his or her business. In fact, it is a very big deal. The saddest call I receive comes from a small business owner that has worked in their company for decades. It was their creation, and they have poured sweat and blood into building it to where it is today.

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RETAIL-FOCUSED WHITE PAPERS & CASE STUDIES

  • EMV Myths Debunked
    EMV Myths Debunked

    Many merchants are concerned about the October 1 EMV liability shift and its potential impact to their respective businesses. Given that there is no mandate around EMV adoption, NCR Hospitality is recommending that restaurant operators, in particular, look to adopt solutions that manage a multitude of payment options rather than selecting single, point solutions that only address EMV.

  • Defending SMBs With Cloud-Managed Security

    Technology is a two edged sword. On one side, the introduction of new applications, devices, and web services makes people’s lives and jobs easier and more productive. On the other, the increase in user mobility, the migration to faster data pipes and the exchange of more information open businesses up to new threats and increased susceptibility to cyber attacks.

  • SMBs: The Attacker’s Target

    Cybercrime is increasing at epidemic proportions, from consumers, to SMB organizations to large enterprises. According to avtest.org, an independent service provider of anti-virus research, more malware was found in the past two years than in the previous 10 years combined. From 2013 to 2014, new malware jumped just over 71 percent from 83M to 142M new strains being introduced. And it turns out Small to Medium Business (SMB) organizations are becoming the cybercriminal’s “sweet spot”.

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POS EVENTS

RSPA RetailNOW August 2-5 Orlando, FL
2015 Mobile Payments Conference August 31 – September 2 Chicago
BlueStar VARTECH September 14-18 Cococay
Money20/20
October 25 – 28
Las Vegas

ABOUT POINT OF SALE (POS) AND PAYMENT PROCESSING

Point of sale (POS) is the place where retail transactions are completed; where payment is exchanged for goods or services. POS is used in many retail industries and many require unique customizations to the hardware and software in order to accommodate their transactions. POS features include scanners, manual and electronic cash drawers, scales, EFTPOS terminals, handheld scanners, touch screens, and many other options. Modern POS systems often act as more than just a system to process transactions by providing inventory management, warehousing, CRM, financials, and more.

In addition to standard on-premise POS systems, modern POS software can be delivered from the cloud in the software as a service (SaaS) model. Cloud-based POS systems can be compatible with traditional POS hardware in addition to mobile devices such as iPads, iPhones, Android devices, and more. Cloud-based POS offers the ability to access data from anywhere there is an internet connection and normally offers faster setup due to it being run remotely.

Payment processing is done by payment processors which are often third party companies hired by a merchant to handle credit card transactions. Payment processors are broken down into two types: front-end and back-end. The front-end processors perform card associations, authorizations, and settlement services while back-end processors accept settlements from front-end processes and move money from issuing banks to merchant banks.

Modern payment processing is usually provided in the software as a service (SaaS) model, giving merchants a single simple electronic portal that allows them to process payments in various forms including recurring payments, web payments, checks, and more all in the same place.

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