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Regulation is Coming to POS Finance: Why Responsible Lending Will Benefit Retailers

Retail TouchPoints

As economic pressures and living costs surge, more people than ever are considering using point-of-service (POS) finance — such as buy now, pay later and installment loans — to manage their cashflow. Old corporate-driven models of offering consumer credit are becoming outdated, leaving modern POS finance solutions the clear frontrunners.

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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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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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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. He will be replaced by his predecessor, Chris de Lapuente, Chairman and CEO of the Selective Retailing division of LVMH Moet Hennessy Louis Vuitton , Sephora’s parent company.

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Study Forecasts Accelerated Adoption of Digital Wallets and Buy Now, Pay Later

Retail TouchPoints

ecommerce share in 2020, up from 23.7% Digital wallets’ expansion is fastest online, but they’re still growing impressively fast at brick-and-mortar POS. of 2020 North American POS spend, and FIS doesn’t expect that pace to slow down in the coming years. in 2020 due to demand for contactless payment methods.

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Lowe’s Employs RFID, Blockchain to Combat Retail Theft

Retail TouchPoints

Organized retail crime has been on the rise since 2020 and costs retailers an average of $700,000 per $1 billion in sales, according to the National Retail Federation. The POS activation is powered by an RFID tag that is embedded in the product by the manufacturer and pre-loaded with each item’s unique serial number.

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Where Payment Processing Systems Are Headed In 2020

RTP blog

Here’s what you can expect in 2020. We don’t yet know exactly how or when cryptocurrencies will begin to change how POS systems operate, but it’s wise to start keeping an eye on them now. However, payment technology is perhaps the best it’s ever been. Better Payment Security Credit card fraud is on the decline. billion in damages.