"While the centralized checkout lanes have been a highly efficient system for stores, what are the actual costs in terms of lost sales? How many consumers abandon shopping carts because they don't want to wait in line, especially during peak holiday periods? What is the cost in terms of consumer experience and satisfaction?"
"The retail industry hasn’t always seen eye-to-eye with President Obama...But there’s one subject where Obama “gets it” — cybersecurity and the need to protect sensitive consumer information like credit and debit card numbers."
"By connecting the POS device to the back-office mainframe, retailers were able to perform business operations more effectively and keep more accurate records of sales and stock, as well as provide a secure environment for cash transactions.
Today, we find ourselves in a very different, transitional retail landscape on the journey towards what I like to call “boundary-less commerce.” As consumers increasingly turn to alternative commerce platforms such as online, mobile and telesales, many traditional stores are being left behind."
"Bar code readers might seem like low-tech devices that have been around forever. It’s not entirely untrue — they have been in use for 40 years, and until recently the technology hadn’t changed much...
Among the new developments involving the application of bar code readers are systems that streamline data so that retailers can retain the most pertinent information and enable payment and rewards programs offered on mobile devices."
The year 2013 was a wake-up call for retailers with regards to national data breaches, with frequency jumping 62% from 2012 to 2013. Eight chart-topping breaches exposed information totaling just over 10 million people last year, as opposed to one single breach of that size the year before.
"When choosing a POS system, one should not only be concerned with the type of software and power it features, but also how the system can perform in the long run. A significant part of this consideration is the system’s hardware durability. If your hardware can’t endure various conditions in your busy, day-to-day environment, the whole POS system can fail."
"While it could take several weeks to months for the chains to reveal definitive details from their forensics investigations, experts say memory-scraping vulnerabilities within the chains' point-of-sale devices and software are likely to blame."
"Heartland Payment Systems, one of the nation’s largest payment processors, this week announced it has teamed with POS terminal provider PAX Technology Inc. to provide EMV-compliant payment terminals through its Heartland Secure card data security product and comprehensive breach warranty, according to a press release."
"New technology about to be deployed by credit card companies will require U.S. consumers to carry a new kind of card and retailers across the nation to upgrade payment terminals. But despite a price tag of $8.65 billion, the shift will address only a narrow range of security issues."
"As technology becomes smarter and more intuitive, conveniences like tableside payment kiosks in busy restaurants have become more commonplace, leading to highly personalized (and time-saving) experiences for consumers...
Unfortunately, developments like these provide malicious actors opportunities to access private payment card data and other highly sensitive information."
"After a spate of data breaches in the past year heightened consumers' fear of personal information being stolen and led retailers to beef up security, shoppers may not be that much safer this holiday season."
"Compared with their parents, millennials are far less likely to identify with a political party or to formally affiliate with a religion - key indicators of an independent streak - according to Pew Research Center. As shoppers, they are less attached to brands and more willing to create their own style, surveys by Nielsen, The Boston Consulting Group and other researchers have found.This generational trait is forcing retailers to rethink everything from their merchandise and marketing to their dressing rooms and logos."
"Fewer than 15 percent of transactions are capable of using contactless technology. Retailers need to take a hard look at their approach to contactless, both in light of the potential Apple NFC release as well as the upcoming EMV network mandate that retailers accept credit cards with EMV chips."
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