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Lightspeed POS Continues Global Expansion with Acquisition of Vend

Retail TouchPoints

Lightspeed POS , a provider of cloud-based, omnichannel commerce platforms, will acquire cloud-based retail management software company Vend for approximately $350 million. Vend generated revenue of approximately $34 million and gross transaction value of more than $7 billion in the trailing twelve-month period ending December 31st, 2020.

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Lowe’s Employs RFID, Blockchain to Combat Retail Theft

Retail TouchPoints

Called Project Unlock , the new technology combines low-cost RFID chips and IoT sensors to activate power tools at the point of purchase while also creating a secure, publicly accessible and anonymized record of legitimate purchases on the blockchain. Visualization of how Project Unlock RFID tags will work.

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Sainsbury’s Deploys Amazon Just Walk Out Technology in London C-Store

Retail TouchPoints

In the first usage of Amazon ’s Just Walk Out (JWO) technology by a non-Amazon international retailer, Sainsbury’s has deployed the cashierless solution in its Holborn Circus convenience store. Sainsbury’s, one of the UK’s largest supermarket chains, had piloted a cashierless customer experience at this store using its own technology in 2019.

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WWD: Sephora CEO Leaving After Less Than Two Years

Retail TouchPoints

Brok, who took the CEO job in September 2020, is a retail and brand veteran with more than 30 years’ experience, most recently as President of EMEA for Starbucks. Prior to that position Brok spent more than eight years at Nike , eventually serving as its VP, Global Product and Merchandising Operations and Analytics.

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Future Of Cloud-Based POS

Korona

Among other reasons, the rising trends of online shopping, contactless payments, QR code use, click-and-collect, increased software integrations, and a stronger reliance on data are expected to strengthen the cloud POS market through the foreseeable future. The global cloud POS market is expected to reach $9 billion by 2026.

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Where Payment Processing Systems Are Headed In 2020

RTP blog

However, payment technology is perhaps the best it’s ever been. Here’s what you can expect in 2020. And technology is one way to heighten security, both for FinTech companies and consumers. They were one of the technological shifts that changed the very nature of card transactions. Payment processing is complex.

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Amazon’s Just Walk Out has Left the Building

Retail TouchPoints

Amazon is removing its cashierless Just Walk Out (JWO) technology from its Amazon Fresh supermarkets and will not deploy the solution in new locations scheduled to open later this year, according to multiple media reports.

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