Heres this months article featured in Merchant Service Times! Enjoy! NFC and Apple Pay - the Next Generation of the Mobile Point of Sale With the recent announcement of Apple Pay and its Near Field Communications (NFC) capabilities for in-store payments via a mobile device, the payments industry is a buzz on the future of mobile technology and how it will impact the current landscape of transaction processing. As merchants anticipate additional ways for consumers to transact between channels - either in-store, in app or online - and strategize how to increase customer loyalty and frequency, they will look to their ISO partners as technology providers to help guide them through the constant ebb and flow of payment processing. Its important to realize that NFC is not just about Apple Pay, especially since NFC capabilities (although not widely adopted by either merchants or consumers) have been in use for close to a decade. More importantly, merchants want to offer more payment solutions on a wider variety of devices that allow consumers the ability to easily and securely make their purchases when and wherever they choose. eProcessing Network (ePN) understands the needs of both the ISOs and merchants, has anticipated the shifts in mobile payment transactions and is ready for NFC. ePNs latest release of ePNJPOS, our Java-based POS solution, supports multiple NFC readers, including stand-alone, as well as full-service POS units. The integration of MagStripe and EMV readers, PIN debit and signature capabilities, helps round out a full-service solution. And in the coming weeks, ePN will have integrated NFC into ePNMobile, our Mobile POS solution, as well as ePNPlugIn, ePNs secure accounting software for QuickBooks™. eProcessing Networks payments solutions will also be compatible with Android devices as well as the iPhone 6 and iOS8, further helping the Small to Mid-sized merchant accept NFC transactions. ePN uses its relationships with its ISO Sales partners to help the SMB understand NFC capabilities in order to take advantage of consumer adoption, and the Bring Your Own Device mentality that is becoming prevalent in todays technologically-driven payments world. Studies show that online commerce via mobile devices is increasing at a rapid pace of 51%, so its important that merchants partner with the right ISO to help them capture a dominant share of mobile payments through a true omnichannel experience, in app, online and in-store. Not only is the flexibility of device usage important for front-end payment capabilities, its also vital that the merchant strategize with its ISO partner to build an integrated, back-end solution; a solution that can maximize business efficiencies for real-time inventory management, account reconciliation and shipping capabilities, to name a few. With integrated, omnichannel solutions like ePNs, merchants can help to shape consumer demand, increase customer loyalty and foster more positive interaction. And if delivering a unified experience helps more merchants secure the sale and influence future purchasing decisions in the mind of the consumer, then its a win-win for all industry players involved.
Posted on: Wed, 01 Oct 2014 15:30:20 +0000
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