Wednesday, October 24, 2018
In an interview with The Green Sheet, Christopher R. Kronenthal, president and chief technology officer at FreedomPay, said DPN is part of a new retail era that is seamless and channel-agnostic. "Omnichannel as a concept is a vernacular trap, perpetuated by people who see supporting different channels as a problem," he said. "If you're not from payments, it makes no sense to have a discussion about channels."
Matthew J. Donnelly, vice president, solutions and compliance at FreedomPay, agreed, stating, "Legacy players in the payments ecosystem were trying to figure out how to bridge the gaps and connect all these different platforms. Omnichannel is not part of our vocabulary, because we provide a consolidated platform that helps merchants not just process payments, but understand customers across all verticals and deliver targeted, real-time advertisements."
Donnelly further noted that DPN drove additional revenue and contactless adoption at the Banc of California Stadium. "We saw a 26 percent boost in NFC adoption and 29 percent increase in overall revenue," he added. "Through the platform, we provide merchants with multiple tools to connect and engage with customers."
Real-time advertisements enable stadiums and other high-trafficked areas to present offers based on customer purchases, such as free drinks with fries, Donnelly said. These offers, combined with Apple Pay increase the value of the customer and what they are buying. Apple Pay deployed on DPN resulted in an uptick and is a telling use case of what DPN can do, he noted.
Donnelly said FreedomPay will prominently feature Apple in DPN's digital ads in retail, hospitality, gaming, education, healthcare and financial services markets. The company's enterprise-scale retailers and channel partners can customize and schedule ads, messaging and promotions at the POS, he stated. Content will dynamically adjust according to the device and platform's screen type and form factor.
"Retailers can optimize the customer experience, because they have a captive audience where DPN is deployed," Donnelly said. "They're waiting in line because they need a specific product or service and 100 percent of them are trying to check out. You can mold that customers' entire experience with a call to action or promo code for a ride share. It makes the customer experience more fun while providing significant value."
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