Devices, devices everywhere – the growing challenge of terminal management
As merchants grow in size, the number of devices needed to power payments across the enterprise inevitably increases. And, with the growth of omni-channel retailing, the store is fast becoming home to an array of different payment device types, as merchants strive to meet the demand for customer service innovation.
So, with ePos machines, Chip and PIN terminals, mPos capabilities, in store-tablets, kiosks and warehouse hardware to keep track of, how do today’s tech-savvy merchants efficiently manage their payments assets, while also meeting their reporting and compliance obligations?
Flexibility and efficiency – can you have both?
Many leading card terminal providers and payment processors offer solutions to help merchants manage their equipment– to track and manage terminals, diagnose technical problems, and support performance reporting. That’s great - but what about a merchant that maintains terminal devices from different suppliers, or uses different payment processors to meet the individual needs of each business site or initiative? Not so straightforward.
The obvious choices are either to report this information manually, use multiple management tools, or build an in-house solution – and these options can be resource-hungry, difficult to maintain, and expensive. With compliance burdens around the ‘chain of custody’ and the increased size, complexity and mobility of devices, these methods often fall short, causing many merchants to be in remediation of their record-keeping systems. Maintaining an audit trail and being able to prove ‘chain of custody’ over the entire estate ensures a securely managed device network. Lack of a complete estate management solution could therefore impact a merchant’s PCI scope reduction for their stores, leading to increased compliance costs.
One tool to rule them all
The most efficient solution for managing devices across a retail enterprise has to be a device-agnostic approach – one that gives flexibility, control and choice back to merchants. An estate management tool that supports multiple device types and terminal manufacturers empowers retailers to easily monitor, manage and report on any device, anytime and anywhere. Merchants are no longer hindered by multiple on- and off-line terminal management tools for internal reporting and external compliance demands.
As omni-channel demands rise and merchants seek to streamline processes and improve visibility and control, a single application that helps them view, track and manage all their devices in one place can create significant efficiencies, leaving internal teams free to concentrate on core business activities.
ACI recently introduced the ACI Estate Management solution, to assist merchants in managing the growing numbers and types of payments devices. This comprehensive, device-agnostic solution allows retailers to track and report on any device within their organization, while taking advantage of the wide range of integration and configuration options available.
Related Blog Posts
Payments Fraud and Friction: A Delicate Dance
One of the biggest challenges for retailers, at least when it comes to payment acceptance, is the need to provide a frictionless customer experience that does not come at the cost of customer security. Additionally, retaining a competitive and distinctive edge requires flexibility across markets and segments.
Cutting the Cost and Complexity of Merchant Payments – But Not the Customer Experience
New research from ACI and Ovum, released this week, highlights that many merchants in 2018 are investing in creating operational efficiencies in their payments systems. But the question is, as they strive to simplify systems and cut costs, will customer experience suffer?
Cross-Border eCommerce Expansion: A Fraud Perspective
For merchants that are expanding their online presence overseas, enabling the right locally-preferred alternative payment methods and connecting to local acquirers can be a critical determinant of success. But without considering fraud management strategy in tandem with payments strategy, the road to cross-border success could be a bumpy (not to mention costly) one.
Driving IoT Progress at Mobile World Congress
I felt fortunate to be among the 107,000 delegates from 205 countries attending this year’s Mobile World Congress, held earlier this month in surprisingly chilly Barcelona.
Showcasing everything from connected cars, to virtual reality, 3D printing to amazing app ideas—the exhibition and conference content at MWC gave visitors a chance to discuss the future of mobile and explore the world’s most cutting-edge, mobile-enabled products and services.
Telcos Have a Unique Opportunity to Drive Mobile Payments
We are witnessing a significant and inevitable shift in digital payments towards mobile commerce. In the next ten years, we will see an exponential expansion in the number of devices and applications we will use to make mobile payments. You could pay for your groceries on your mobile, for delivery at home, then two days later receive a message from your fridge alerting you that the milk is running low. By the time you get back home, a new bottle of milk could be waiting for you, thanks to real-time delivery, even by a drone.
What Do Consumers Want and How Are Retailers Meeting Their Payments Demands in 2018?
What do consumers want from their payments in 2018? That’s the million-dollar (possibly more) question merchants everywhere are asking themselves and it’s the question Retail Week Connect asked 2,000 consumers and 30 senior retail executives. Here are some key takeaways:
Another Day, Another ‘Pay’? Why Google Pay Could Be Different
The official announcement of Apple Pay back in late 2014, and Android Pay just a few months later, was the catalyst for seemingly endless prognostication on the dawn of a new era in mobile payments. Along with a clutch of ‘Pay’ cohorts, these digital wallets were widely expected to transform shopper behavior, nudging us closer to cashless world where the physical wallet could be left to collect dust at home.
Ripe For Change? New Frontiers in Merchant Payments [Klarna Q&A]
Consumers often have a love/hate relationship with online shopping. They are easily frustrated when the checkout experience does not deliver the convenience they expect, and delighted when the online journey – including payment – is smooth and frictionless.
More than Half: the Story of Cyber-Attacks and Global Organizations in 2017
Three words. It might not seem enough to cause a rethink of your 2018 cyber-security strategy, but it should. Why? Because according to the latest Forrester report, “Top Cybersecurity Threats for Retailers in 2018,” attackers breached more than half of all global enterprises in 2017.
More. Than. Half.
Payments Presents a Towering Opportunity for Telcos
Mobile phone usage is soaring and, with around a third of the world’s population and up to 65 percent of Western Europeans estimated to own smartphones in 2017, it is fairly safe to conclude that digitally-connected consumers are a strong and growing group.