The Retail Solutions Providers Association (RSPA) is presenting its annual trade show, education conference, and networking event, RetailNOW. The event, planned for July 28-30 at the Paris Hotel in Las Vegas, is renowned for being the place “where the industry meets.” It is set to draw more than 1,600 value-added resellers (VARs), independent software vendors (ISVs), payment companies, and IT hardware vendors who are ready to take a deep dive into retail technology trends and explore new solutions on the market.
RetailNOW is a popular place to meet with customers and partners, reconnect with acquaintances, and initiate new business relationships. However, it’s also one of the best opportunities VARs and ISVs have all year to understand the retail landscape and the direction the industry is going with the help of technology.
Tune in When You Hear These Topics of Conversation at RetailNOW
RetailNOW education sessions, panels, and booths on the exhibit floor will provide you with information on a variety of technologies. However, listen to what thought leaders, vendors, and peers have to say about these topics, which will impact your business in the coming months.
- Mobile Payment Devices
Presentations and booth talk at RetailNOW about point of sale (POS) systems will undoubtedly lead to mobile POS. Several factors are driving this topic. First, omnichannel consumers are growing less patient with traditional in-store processes. More than 80% of consumers will avoid businesses because of lines. Additionally, 70% say the best way for retailers to enhance their in-store experiences is with easy access to information. ISVs and VARs can help retailers meet those expectations with mobile POS solutions. Sales associates with POS software on tablets can provide information and service wherever customers engage.
A key component of those interactions is payment. ISVs and VARs will find a range of devices for accepting payments beyond the checkout counter, including compact payment terminals that retailers can use in mobile use cases. The challenge for ISVs and VARs is matching the device with the application. Consider who is using the device, i.e., a store employee or consumers, where they’re using it, how vulnerable it will be to wear and tear, and how to secure it. Those factors, in addition to support for all of the payment methods the merchant accepts, will guide you to the best options.
- SoftPOS
SoftPOS, also called tap on mobile, tap to phone or Tap to Pay, is disrupting the payments space by eliminating the need for a separate payment device. SoftPOS allows retailers to accept contactless payments directly on a compatible consumer tablet or smartphone. ISVs who integrate with SoftPOS can enable retailers of all sizes to accept payments anywhere they can use a mobile device.
Tap to Pay benefits for ISVs and VARs include a growing recurring revenue and payment residual stream by enabling more retailers to accept digital payments and deepen their relationships with them.
- Android-Based Payment Technology
Android is another topic likely to dominate conversations at RetailNOW, whether you’re researching options for POS hardware, digital signage, or mobile devices. However, pay special attention when you hear people talking about the trend toward Android-based payment technology. ISVs are favoring Android over Linux for its flexibility, allowing them to integrate with a payments platform rather than a specific terminal series. By a single integration with an Android-based payments platform with backward compatibility, ISVs can support a wide range of terminals and payment methods.
Android also enables adding business logic to the payment terminal, allowing retailers to differentiate their businesses with personalized checkout experiences. Retailers can display ads on the terminal, prompt customers for feedback or other information, and display loyalty rewards account information. Furthermore, an Android-based payment technology platform enables strong security, segmenting business applications from payments.
- Remote Management
Thought leaders at RetailNOW will point out that as retailers engage and transact in more places on more devices, traditional methods won’t be sufficient to track their location, keep them updated, push new capabilities in the field, and provide easy access to help desk services. ISVs and VARs need to offer an effective management solution.
Retailers will benefit from a payment device estate management that monitors devices, updates them, and allows users to request service directly from the terminal. Screen sharing also allows technicians to troubleshoot and, often, resolve issues without onsite or depot service. ROI from a centralized estate management system is especially fast for enterprises with thousands of devices deployed regionally or nationwide.
Align with Retail Technology Trends to Benefit Your Business
As you browse the booths at RetailNOW, stay focused on the value solutions offer to retailers. Multiple vendors are bringing solutions to market. However, evaluate them from your clients’ perspective to find the most user-friendly, future-proof options that will help them get the most from their investments. Putting clients first will help you build customer satisfaction and lifetime value that puts your business on the path to greater growth.
To learn more about helping retailers accept, enhance, and manage payments in the new world of commerce, schedule a meeting with us at RetailNOW or contact us today.
