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Table of Contents

Lead Story

Diverse perspectives on end-to-end encryption

News

Industry Update

PPISC urges solidarity for security

Red Flag enforcement delayed

Minding merchants' identities

Economic indicators suggest cautious optimism

MasterCard interchange rates as of April 2009

Features

AgenTalkSM:
Bob Dickerson

Small business remote deposit capture: Will ISOs claim the market as they have done with credit card

Bob Meara
Celent LLC

Selling Prepaid

Prepaid in brief

A new passport for the corporate world

Loyalty is closed-loop gift card's 'second wind'

Control your destiny, manage your program

Views

Use checks to open new verticals

Patti Murphy
The Takoma Group

Education

Street SmartsSM:
Developing your elevator speech

Jon Perry and Vanessa Lang
888QuikRate.com

Ten ways to juice your business

Michael Dotson
Worksmart Media Group

Pitfalls to avoid in acquiring relationships

Adam Atlas
Attorney at Law

The POS trifecta

Dale S. Laszig
DSL Direct LLC

Look to the stars

Vicki M. Daughdrill
Small Business Resources LLC

Company Profile

Infinity Payment Systems

New Products

Flag and filter online payments

Advanced Fraud Detection Suite
Authorize.Net

Outsourced residual computing

EZPay ISO Portal
Company: ePayware Inc.

Inspiration

May the forgiving force be with you

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

May 25, 2009  •  Issue 09:05:02

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The POS trifecta

By Dale S. Laszig

Looking for the trifecta in today's POS technology? Think wireless mobility, multitasking and integrated solutions. All three are being implemented throughout the industry.

So does this mean traditional POS devices will eventually be phased out? Not likely. But as banking and payment processing become increasingly mobile, payment professionals can pull ahead in the merchant acquiring race by capitalizing on these three emerging technologies.

1. Mobility

In today's society, where convenience, speed and security compliance have made mobility more attractive, products like Apple Inc.'s iPhone and Amazon.com Inc.'s Kindle joined the digital parade of devices that are accelerating the acceptance of downloadable content like books and music. Smart phone technology makes managing our lives and businesses from any location possible - and as a result we have become less tethered to our homes and offices.

Merchants want the same portability and ease of use for their payment processing. They want the convenience of card present acceptance wherever they happen to be working, and they desire solutions with the security and lower rates of portable credit card readers. Here are a few examples:

2. Multitasking

This behavior is used to order pizza, webcast a live event, text your friend when you are running late, transfer funds, process credit card payments and even place calls - all at basically the same time.

The smart phone may be an extreme example of having the multitasking capability in a handheld device, but it shows how consumers and business owners have downsized from desktop computers and large, flat screen monitors to smaller hardware platforms that perform more applications while using less power.

The trend toward technology consolidation means older devices that are limited to one function (traditional credit card terminals, for example) are becoming obsolete. It's not just that phones have become smarter: Today's next-generation POS devices do more than process credit cards.

Multi-application terminals let ancillary programs coexist with other payment applications in the same terminal without interfering with credit card processing functions. All it takes is a partial download to accommodate these value-added services. Here are some examples:

3. Integration

How can single-use countertop POS devices stay in the game in an increasingly complex and technologically demanding workplace and world? They can remain useful when they are incorporated into larger, enterprise-wide operations.

Business owners who use traditional countertop devices could benefit from a customized mix of products and technology to manage other forms of payments. This would eliminate double entry and tedious end-of-shift reconciliation procedures. Following are a few examples:

Place your bets

There is no limit to where we can go with the trifecta of mobile, multitasking and integrated technology. It's a safe bet that these three trends will continue to win, place and show in the competitive world of merchant acquiring.

Dale S. Laszig is a writer and payments industry executive with a diversified background in sales and marketing. Her company, DSL Direct LLC, helps industry professionals and business owners leverage electronic transaction technology. She can be reached at 973-930-0331 or dale@dsldirectllc.com.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services