National Retail Federation Big Show 2019: Payments Are the Backbone of Retail Transformation
This IDC Market Perspective details the NRF Big Show held January 13–15 in New York City. Retailer innovation and digital transformation are still in the nascent phases of development. This is a key time to organizationally integrate the payment team into technology decision making. Nearly every change linked to omni-commerce and customer-first transformation requires innovation on the payments "back end.""Where traditionally merchants invested in siloed payment technologies from POS software to ecommerce platforms and gateways, many are now gravitating toward combined, platform-oriented offerings. In a simple world, they'd invest in end-to-end systems, and certainly that's what vendors are attempting to develop and message. But more realistically, merchants will invest in combinations of puzzle pieces — gateway and acquirer services with open APIs for POS integration or integrated POS and ecommerce platforms with openness for gateway integration. In all cases, there is a focus on openness, which allows merchants to add new payment types and function in new channels as they emerge." — Rivka Gewirtz Little, research director, Global Payment Strategies
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