Innovative Retail Technologies

JAN-FEB 2017

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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27 Jan-Feb 2017 inserting the card, the merchant can offer customers an experi- ence much more similar to the magnetic stripe 'swipe ahead' process," says Cole. The faster EMV processing solutions also eliminate some of the nonessential EMV features, such as issuer script processing. This means that the card doesn't have to remain in the terminal until the response message is received from the issuer. An efficient configuration and a stream- lined workflow go a long way toward minimizing the amount of time it takes to complete a dipped transaction versus a swiped transaction, says Raftice. "With many merchants still slow to adopt and consumers still adapting to new processes, several of the kinks have yet to be worked out between retailers and cardholders," he says. Raftice believes the most influential factor in the perceived time it takes to complete an EMV transaction is that the chip card must remain in the reader until the authorization response is received from the issuer. "For consumers used to swiping their card and immediately returning it to their wallet, this new wait time for card removal has resulted in much more awareness of the total time it takes to complete a transaction." To address this concern, Raftice says EVO is upgrading all of its terminals to support the aforemen- tioned Visa Quick Chip for EMV and M/Chip Fast from MasterCard technologies. Cole points out that contactless trans- actions are also considerably faster than typical contact transactions, and they allow the merchant to accept payment options such as Apple Pay and Android Pay. "Further, merchants should look to optimize the prompts and screens that are presented to the customer such as com- bining PIN prompting with the transaction total display," says Cole. "In the U.S., EMV debit cards will have at least two payment applications on them. While the U.S. debit solution for EMV is an entire topic on its own, the screen prompting implication is that unless the merchant implements an application 'pre-selection' process, the cardholder will be presented with two payment options from which to choose." In most cases, he says, the names displayed for these applications will have little or no meaning to the cardholder, which will cre- ate confusion and slow the checkout process. As payment security goes, there's clearly no time for mer- chants to rest on their laurels. The payments industry is tire- lessly working to stay ahead of the criminal threat, but the solutions they're developing are only effective if merchants keep up with them. COMPLIANCE? GOT VENDOR Imagine an enterprise-level, supply chain visibility, vendor performance, and vendor compliance SAAS solution that costs you nothing. Need automated identification, calculation, and communication of violations and chargebacks? How about mobile tablet devices to record manual audit information from any location with internet access? Don't know who to audit? Our Vendor Classification System will enable you to spend less time with the near perfect vendors and more time with those causing the most pain. Inventory accuracy is essential for omni-chan- nel success. ASN accuracy problems are a major cause of poor inventory accuracy. We have a solution for that. Our compliance portals offer vendors a self-service solution for access to violation and chargeback details, and for communicating disputes. Email your request NOW for a complimentary, no-obligation Opportunity Assessment to

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