Merchant Pricing Hub

19/03/2020

With coronavirus taking a significant chunk out of physical retail and services, the use of call centers and phone interaction with customers becomes even more important.

And it calls for advanced speech recognition technology that concentrates as much on what is said as it does on the voice inflection of those saying it.

https://www.paymentssource.com/news/why-voice-recognition-is-vital-to-payments-during-the-coronavirus-pandemic

18/03/2020

To stay competitive, especially with digital startups unencumbered by legacy systems, traditional financial institutions (FIs) need to deliver seamless customer services to individual consumers and enterprise customers alike.

https://www.pymnts.com/news/payments-innovation/2020/red-hat-innovating-payments-open-source

13/03/2020

5G will afford new opportunities for almost every sector, and retail is no different. It’s conceivable that the bricks-and-mortar experience over the next few years will be fundamentally different from how it is today.

The new communications technology will also drastically improve e-commerce, meaning retailers will need to utilise this new technology on both their online and offline platforms.

https://blog.retail.org.au/newsandinsights/5g-and-the-retail-revolution

11/03/2020

Alipay, the mobile payment app owned by billionaire Jack Ma, is stepping up its competition with WeChat to get more of its 900 million users to tap expanded services in everything from real estate purchases to restaurant and cinema bookings.

https://www.paymentssource.com/articles/billionaire-jack-ma-steps-up-battle-with-wechat-to-win-merchants

11/03/2020

Items picked up by a customer and any guests who enter with them will be added to the shopper’s virtual cart. The store will then bill the credit card once the person or group leaves the store - no bar code scans or checkout lines necessary.

https://www.reuters.com/article/us-amazon-com-store-technology/amazon-launches-business-selling-automated-checkout-to-retailers-idUSKBN20W0OD

06/03/2020

The Airwallex Borderless Card will permit businesses to move money quickly and convert payments into 10 currencies, with real-time access to each country’s competitive exchange rate, using artificial intelligence (AI) technology.

https://www.pymnts.com/news/cross-border-commerce/cross-border-payments/2020/i2c-airwallex-link-cross-border-payments-card

05/03/2020

Least-cost routing functionality helps save on fees because it allows merchants to choose to route a debit card transaction to the lowest cost network for that transaction, which in many cases the eftpos network.

https://blog.retail.org.au/newsandinsights/how-does-least-cost-routing-works-for-different-payments-service-providers

More service providers are now offering this in Australia. It is referred to in different names such as ‘tap and save’, ‘merchant choice routing’, ‘wave and save’ or ‘smart routing.’

04/03/2020

Banks and providers have started to roll out options to direct these payments through debit rather than credit but Visa has hit out at the suggestion that "merchant choice" options be compulsory.

The card giant has hit out at suggestions that contactless payments should automatically go through domestic channels.

27/02/2020

Canadian payments solutions provider, Mobeewave, in partnership with Samsung and the Commonwealth Bank of Australia (CBA) is set to pilot their mPOS solution in Australia.

This “tap-to-phone” solution can be used without the need for additional hardware connected to the device (such as a dongle or card reader). Merchants can accept debit and credit payments by tapping a contactless card or digital wallet onto the back of their enabled Samsung mobile device.

Merchants who wish to use the mPOS solution can do so by downloading the application and going through a sign-up process.

https://auspaynet.com.au/insights/blog/Mobeewave

26/02/2020

An online eftpos facility is likely to be appealing for merchants contesting their payment acceptance services because it likely would enable them to route transactions down eftpos’ not-for-profit rails at a lower cost that competitors.

https://www.itnews.com.au/news/eftpos-reveals-new-push-into-digital-identity-538603

26/02/2020

The study clearly illustrates that Generation Z, whom Business Insider notes wields a formidable purchasing power of $143 billion this year, prefers payments that are non-traditional, and are more willing to explore tech-enabled payment methods.

https://www.paymentsjournal.com/gen-z-is-leading-the-way-to-alternative-payment-options/

21/02/2020

What moves the consumer, he explained, is the experience — what will work fastest, smoothest and with the least number of inconvenient clicks or data-entry stutter steps between them and their goal.

Kount addresses the gap between security and convenience when it comes to fraud in mobile order-ahead, and the mindset QSRs can take to face the challenges.