The Mobile POS: Hype to Reality study revealed that the increasingly popular use of tablets and other mobile devices has led 28% of North American retailers to decide to adopt Mobile POS in some form by the end of this year.
Despite this, 33% of those questioned do not plan to adopt Mobile POS at all within the next 3 years, which suggests that retailers are being realistic about their capabilities.
Greg Buzek, president of IHL Group, commented: “Mobile POS continues to receive a lot of hype, and some specific announcements have received a lot of press.
“But the vast majority of retailers are taking a slow and methodical approach to the use of mobile for POS. There are key operational issues in device and merchandise security, cash handling, payments, bags, customer service levels and traffic flow that must be worked through, or the use of the devices will be disruptive in a negative way for retailers.”
There are increasing calls for the use of open banking APIs from industry groups and even the UK Treasury. It is clear that this market shift is inevitable, but while this openness will facilitate innovation and drive competition, there is uncertainty.
The European Banking Authority (EBA) has published the long-awaited draft of the Regulatory Technical Standards (RTS) covering Secure Customer Authentication (SCA) and secure communication. Tom Hay, head of payments at Icon Solutions shares his thoughts on whether they will be effective.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.