Archives

• With LoopPay, Samsung could take early lead in mobile payments

  • Best Practices

  June 25, 2015

  

  One of the hurdles to implementation for mobile payment technology is the cost of adopting new physical systems compatible with methods like Apple Pay. Samsung stands to take what observers call an "early lead" on the marketplace due to its acquisition of LoopPay. 

  "LoopPay developed a technology called Magnetic Secure Transmission (MST) which will be integrated into new Samsung phones," reports John Heggesteun of Business Insider. "The technology will allow mobile users to pass their phones over a typical credit card reader to make a payment. In addition, Samsung Pay users will also be able to pay by presenting a barcode to be scanned at checkout."

  This means that a higher number of merchants should be able to accept Samsung Pay payments sooner than its competitors, as the … more

• Is your business ready for cloud POS?

  • Tablet POS

  June 25, 2015

  

  Whether you've just signed the lease on your first store or you are considering expanding to new locations, its worth taking the time to consider your current and future point-of-sale (POS) system needs now. In your market research, you have likely already stumbled upon how retailers and restaurants are moving away from bulky cash registers and replacing them with sleek tablet mobile payment systems. 

  Thanks to advances in mobile devices and cloud technology, cash registers have become increasingly rare, and for good reason. A smartphone or tablet can provide the same functionality, in a more streamlined manner that improves the customer experience. Customers gain the option to have receipts emailed to them instead of printed, can clearly view … more

• New York State Department of Labor to issue new paycard guidelines

  • Regulation

  June 25, 2015

  Paycards have grown in popularity as a means of compensating employees and as such, have courted the attention of regulators. The New York State Department of Labor (NYSDOL) has proposed guidelines for paycard implementation to make the process as fair to workers as possible. 

  "For several years at least, many employers with a large non-exempt workforce – particularly in the retail and hospitality industries – have moved towards pay cards as a means to reduce payroll administration costs," explains JD Supra, business advisor. "Most states either regulate pay card systems lightly (with fairly minimal disclosure and free withdrawal requirements) or not at all."

  Some of the NYSDOL-proposed regulations include:

  A description, in plain language, of all employee … more

• Samsung Pay delay reminds merchants: Easy does it

  • Interchange

  June 17, 2015

  

  As the original rollout date approached, some observers were surprised to hear that Samsung delayed the launch of Samsung Pay until later this year. The platform will be available to merchants in September and leaders at the company said the delay will allow Samsung to fine-tune some details about the service. 

  "If anything, we think that by the time we launch (in September), that we will have significant announcements associated with which banks, which networks are participating with Samsung Pay and even which merchants and which programs attached to merchants will all be a part of Samsung Pay," Will Graylin, global Co-GM of Samsung Pay, told PYMNTS. "And that's just a slight hint into what will be coming. Samsung Pay is in a great position."

  Aligning partners is one of the … more

• How complex are your payment interface needs?

  • Best Practices

  June 17, 2015

  

  One of the benefits of technological innovation is that in stores and restaurants, a point-of-sale system often performs other functions. From workforce management to ordering and timekeeping, many different services can be integrated into a single, unified system. Moreover, many companies have expanded to multiple locations, so consistent platforms across those outlets is a priority. 

  While this has streamlined digital transactions across multiple channels of a business model, it presents potential hurdles to upgrading old card reading devices. As the October EMV migration deadline nears, studies have shown that many businesses will take their time to get compatible with the new chip-and-pin system. The bigger and more complex an enterprise and the more heavily dependent it … more

• Web-based processing models help churches and other nonprofits

  • Interchange

  June 01, 2015

  

  Nonprofits face a special set of hurdles when it comes to generating donations. The traditional development model, which relies heavily on paper mailings and requests for pledges over the phone, doesn't integrate itself into the lives of patrons the way an online interface can. At Vantage, we provide service to enterprises seeking donations on their website. This produces a steady revenue stream for organizations that depend on the generosity of supporters and provides those patrons with an easy and convenient platform to give. 

  At Vantage, our solutions for similar organizations enhance an individual's ability to give, reduce the administrative time dedicated to accounting and are fully customizable to the needs of the organization. Your organization can pay a small processing … more

by Ty Hardison

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