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Table of Contents

Lead Story

Fed looks to online real-time payments, eventually

Patti Murphy
ProScribes Inc.


Industry Update

Who's to blame for Apple Pay fraud?

Lack of EMV readiness continues, EMVCo steps up

Mobile World Congress 2015 extols innovation, inclusion

Visa Checkout used by 3 billion, plans worldwide expansion

Technology experts weigh in on future of POS


EMV 101 for merchants

Every second counts

What's trending in payments?


The bygone era of clicks

Dale S. Laszig
DSL Direct LLC

Embedding generosity in the fabric of payments

Thom Aldredge
World Gift Card

EMV implementation details urgently needed

Ken Musante
Eureka Payments LLC


Street SmartsSM:
Goodbye until hello

Tom Waters and Ben Abel
Bank Associates Merchant Services

Use big-data resources to better serve, retain merchants

Billy Hubbard

Mobile payments: Enabling merchants for today, preparing them for tomorrow

Michael Gavin

Company Profile

Signature Card Services

New Products

PCI-validated, comprehensive security package

SecurePCI Validated P2PE

Two-sided mobile solution for buyers, sellers

InvisiCorp., Inc.


A different sort of snow job


Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

March 23, 2015  •  Issue 15:03:02

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Trade Association News:
Technology experts weigh in on future of POS

Leaders from Square Inc., VeriFone Inc., Clover Network Inc., E la Carte Inc., and Wells Fargo Merchant Services recently gathered in San Francisco to discuss the future of the POS in an event hosted by The BayPay Forum. Future events in the series will focus on acquirer and retail perspectives on this topic.

"The POS market is going through a revolution," said Daniel Chatelain, Managing Director at The BayPay Forum. "There was consensus among the panelists that it's not hardware anymore; it's not software. It's more about what retailers and consumers are expecting. The consumer experience is key." And there are challenges to overcome due to differences in user experience, so education will be imperative, he added.

During the panel discussion, VeriFone Vice President Hitesh Anand said everything should be focused on the consumer, whether merchant or end customer, because for any new technology to be successful there must be buy-in from both audiences.

Rajat Suri, Chief Executive Officer at E la Carte pointed out the ongoing time challenges restaurants face. "We developed our product around making that pain point go away," he said, noting that it takes about 55 seconds to process payments on the pay-at-table Presto tablet-based system his company offers versus the 15 minutes that is typical. He expects to see more consumer-facing, software-driven, simple-to-use POS systems in the future.

Clover co-founder Mark Schulze said that many apps failed in the past because the core infrastructures weren't there, but that is no longer the case. With network organization, he predicts mobile wallets will move from single app to platform. "I think with Apple Pay you're going to start seeing more purpose- or function-focused wallets," he noted. "It's not going to be a wallet I want to pay with. It's going to be, 'I want my pizza,' so payments will be built in as sort of an in-app purchase."

Eric Sager, Head of Seller Growth and Retention at Square, said Square has evolved organically as a seller-driven provider to allow merchants to manage a business on one platform. "The advantage to our sellers is pretty clear," he said. "You can essentially run your entire business end-to-end."

But the challenge with integrating with third-party systems is how to maintain the same end-user experience. "If I can sign up for a Square account in five minutes, my expectation as a seller is that I can sign up for my Intuit account in five minutes, and go down the list," Sager said. "That is not always the case when you first start those conversations."

Wells Fargo Executive Vice President Mark Baumli described the opportunity today as the "perfect convergence between excellent new hardware products on the scene, excellent new software platforms, the cost of technology declining rapidly, and merchants waking up and realizing, 'You know what? Why is my iPhone cloud-based and my POS isn't?'"

Anand believes that in the future, it's not going to be point of sale, but points of sale, where the success of each will be dependent on the user experience for both seller and buyer.

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:

USAePay | Impact Paysystems | Electronic Merchant Systems | Inovio | Board Studios, Inc.