Innovative Retail Technologies

MAR 2013

Innovative Retail Technologies (formerly Integrated Solutions For Retailers) is the premier source for innovative yet pragmatic technology solutions in the retail industry.

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In-Store Systems Q&A What are some innovative technologies or applications that retailers can deploy at the point of purchase to move payment processing from a necessary expense to a value-added or competitive differentiator? Morea: We've been working for years to address the aforementioned challenges presented by the onset of Universal Commerce and make payment processing a differentiating factor for retailers globally. Within the mobile payments sector, we've been working to simplify the NFC payments ecosystem for the end consumer and for ecosystem participants by enabling real-time, secure issuance of payment cards to an NFC-enabled mobile device for contactless payments at a given merchant's POS. Commerceenabled mobile devices can manage multiple accounts "Within the offer/loyalty program sector, we're allowing publishers of electronic coupons, daily deals, and loyalty programs to implement and manage card-linked offers for consumers and merchant customers." Dom Morea, SVP of advanced solutions and innovation, First Data that are credit-, debit- or merchant-specific. We can also allow the consumer to integrate existing payment cards (credit, debit, prepaid) with all of the other commerce functions of a mobile wallet. Within the offer/loyalty program sector, we're allowing publishers of electronic coupons, daily deals, and loyalty programs to implement and manage card-linked offers for consumers and merchant customers. The offers process is automated by allowing consumers to link offers to their payment cards and receive discounts using routine checkout and payment procedures. This streamlines the redemption process at the POS and provides valuable insight into offer performance. Finally, on the data security front, we're combining the flexibility of software- or hardware-based encryption with random-number tokenization and helping smallto-midsize merchants achieve and maintain Payment Card Industry Data Security Standard compliance — always a necessary step in enabling a proper (and legal!) mobile commerce strategy. ■ March 2013 ● RetailSolutionsOnline.com 29

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