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BII In an increasingly digitized world, brick-and-mortar retailers are facing immense pressure to understand and accommodate their customer...

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In an increasingly digitized world, brick-and-mortar retailers are facing immense pressure to understand and accommodate their customers’ changing needs, including at the point of sale (POS). 

More than two years after the EMV liability shift in October 2015, most large merchants globally have upgraded their payment systems. And beyond upgrading to meet new standards, many major retailers are adopting full-feature, “smart” devices — and supplementing them with valuable tools and services — to help them better engage customers and build loyalty.

But POS solutions aren’t “one size fits all.” Small- and medium-sized businesses (SMBs) don't usually have the same capabilities as larger merchants, which often have the resources and funds to adopt robust solutions or develop them in-house. That's where app marketplaces come in: POS app marketplaces are platforms, typically deployed by POS providers, where developers can host third-party business apps that offer back-office services, like accounting and inventory, and customer-retention tools, like loyalty programs and coupons.

See the rest of the story at Business Insider

See Also:

• Wells Fargo's $575 million settlement could help it refocus its efforts on launching new products
• Ant Financial is reportedly in talks to acquire WorldFirst
• Visa is acquiring Earthport to enhance its cross-border exchange services

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