EMV gathers steam
#dch_Europay/MasterCard/Visa (EMV) has gained new steam, according to The Global Payments Standards - Is Your FI Ready? In this white paper, Aris Jerahian, Vice President of Client Relations for The Members Group, examined the driving factors behind possible U.S. adoption of chip-and-PIN technology to support EMV. Among the indicators discussed were the Federal Reserve's recent formation of a forum to examine EMV and the development of mag stripe bridging technologies. Jerahian also explained how American financial institutions can learn from early U.S. adopters, like TMG client United Nations Federal Credit Union, and outlined the four questions he believes every financial institution should ask of its processing partner before following suit.
The report can be downloaded at www.themembersgroup.com/EMVglobal.
NFC to redefine smart phone services?
#dch_Global Sweep: NFC Technology to Redefine Smartphone Services, a report by Mercator Advisory Group, examined recent developments in the handset market, forecasted the handset market out to 2015 under different scenarios and provided an economic analysis of the business model of near field communication (NFC) mobile payments for mobile network operators. The report also presented a survey of key markets most likely to see the first wave of NFC payments. Other highlights of the report include:
For more information, go to www.mercatoradvisorygroup.com.
SMBs hampered by technology challenges
#dch_Lack of adequate network bandwidth is a challenge for 40 percent of small to midsize business (SMB) retailers, according to the Aberdeen Group's report, The Roadmap from Multi-Channel to Cross-Channel Retailing: The True ROI of Unified Customer Experience. The report indicates that without adequate network capabilities, retailers are unable to use web-based POS tools, such as web order management, order look-up and other enterprise-level applications that can be accessed from POS registers.
Here are some other challenges faced by SMB retailers:
The report includes insights into best practices for customer, business process and technology areas that directly impact SMB retailer sustainability.
To download the report, go to www.aberdeen.com/aberdeen-library/6823/RA-multi-channel-retail.aspx.
Mobile, bad and good for impulse purchases
#dch_Two reports published on StorefrontBacktalk.com explored the impact of mobile devices on the nature of impulse purchases. In some cases, mobile devices expedite impulse purchases. The reports cited as an example the ability to immediately buy items promoted within the context of a movie while the movie patron is still in the theater as a way in which mobile promotes impulse buying.
On the other hand, the availability of mobile comparison shopping apps can quash an on-the-spot buy. Shopper motivation, however, is a complicated issue. Impulse consumers don't necessarily enjoy the process of shopping as much if they get bogged down in electronic research, the reports pointed out.
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