After having missed TRUSTECH in 2021, ID TECH couldn’t pass up on the opportunity to exhibit at and attend one of the biggest shows in Europe. So we gathered our Team, packed our bags and headed to Paris, France, for TRUSTECH 2022, excited to share all of the new things going on at ID TECH in front of a global audience.

TRUSTECH is known as THE global event showcasing the latest hardware and technologies dedicated to innovative payments and identification solutions. This was the 38^th edition of the show and this year the event took place at Paris Expo Porte de Versailles where, for 3 days, people from all over the world in various business sectors such as tech, smart card, innovative payments, in addition to financial and governmental institutions, crowded the aisles and exhibition floors. According to the official 2022 TRUSTECH Facts & Figures article, this year’s show boasted 150 exhibitors (85% from outside of France) and over 6,500 attendees (an increase of 30% compared to 2021). TRUSTECH Director, Anne Frayssinet, said this of the show: “TRUSTECH 2022 was a great success from every point of view. Many business meetings, scheduled upstream, took place during the fair, which highlighted how dynamic this industry is in terms of projects and commercial potential. A high-level program was brought to our attendees…many innovations showcased in the booths!”

ID TECH was proud to be a part of those “many innovations” that were showcased at the show. Notably, this was ID TECH EMEA’s (Europe, Middle East & Africa) biggest exhibitor booth to date, featuring our latest innovative technology, the NEO 3 Platform of Products. We also displayed several integrated solution demos ranging from an EV charging station equipped with our VP6825, to a parking meter utilizing the VP7200’s ability to drive an external display.  These demos, coupled with working units of our new NEO 3 Platform of Products as well as our products currently in the market, like the VP3300, showcased all that ID TECH has to offer. We gave each booth visitor a unique, hands-on experience with our newest products and left them with ideas on how our hardware can meet a variety of business needs and provide complete market solutions.

Our entire NEO 3 Platform of Products was very popular amongst all booth visitors. The AP6800, our Android-compatible device, received a lot of attention as visitors were impressed with its look, size, and display resolution. Hearing feedback from booth visitors such as, “Nothing else on the market that competes with the size”, referring to the compact Kiosk V and VP7200 contactless readers, and, “The universal connection (USB-C) makes our work (integration) so much easier and is more appealing to us and our clients” tells us that not only are our NEO 3 products desired, but are needed in the payments industry today!

Adding to the excitement and buzz surrounding the NEO 3 Platform of Products, our very own Fernando Herkenhoff, Director of Sales (EMEA), took center stage as an expert presenter on the TRUSTECH Innovation Stage. Fernando talked about how ID TECH is accelerating payments in the unattended markets and how we are tackling challenges in the unattended space. “ID TECH is built for unattended…it’s one of our expertise,” said Fernando during his presentation. To watch Fernando’s entire presentation CLICK HERE.

In our mission to expand and discover new ways to become a full-service, payment solutions provider, ID TECH has developed and launced a software service that will enable users to manage their entire estate of ID TECH devices anytime, anywhere. Software Services was also featured in our booth with a working demo showcasing different features such as remote firmware updates and numerous remote content management tools. Interest was high as the demo was used regularly throughout the course of the show and feedback was very positive when visitors experienced our demonstration of Software Services. We are very excited to offer this software component to our products and services in 2023.

Interacting with our peers and customers, it was obvious that there is a growing excitement in the payments industry and it is very encouraging! In speaking of this year’s show, Lance Ning, VP of Marketing, said this: “It was great to be back in Paris for TRUSTECH this year to showcase our latest products in front of a truly global audience.  It’s always a pleasure to connect with our customers from around the world.  TRUSTECH does a wonderful job of connecting the payments and identification industries, and ID TECH is looking forward to being back to exhibit again next year!” What a difference a year makes!

About ID TECH

ID TECH is a global leader in payment peripherals, with sales, manufacturing, and R&D facilities worldwide. The company has become a well-established payment solutions provider with extensive experience in data capturing and encryption products and services. Designing dependable, feature-rich products has made ID TECH a leading supplier of MagStripe readers/writers, mobile payment readers, contactless readers, smart card readers, barcode readers, POS keyboards, signature capture devices, PCI-compliant PIN pads, and other specialty products for OEMs, VARs, resellers, distributors, and key end-users. ID TECH provides both standard and custom solutions to support customer requirements.

For more information, visit www.idtechproducts.com.

 

Today’s competitive landscape demands new innovations to ensure long-term customer loyalty and satisfaction. While your current payment technology may be sufficient in completing customer transactions quickly and effectively, it may not offer the latest
convenience technology that has become popular in our high-tech society.

In recent years, mobile technology has become an increasingly popular trend in the payment world. Mobile solutions offer businesses the ability to minimize lines while quickening transactions. Line busting—completing a sales transaction with a mobile solution so customers don’t need to stand in line— has become commonplace in popular retail stores to improve a customer’s in-store purchasing experience.

It’s important for businesses to be aware of their customers’ payment preferences and patterns, so they can tailor their solutions to customer needs.

Here are four things merchants should know about mobile card readers:

How Mobile Card Readers Work

In plain language, mobile card readers turn smart devices into payment devices. This allows businesses to accept payments anytime, anywhere. Businesses are finding a plethora of benefits from incorporating mobile card readers into their operations; however, the most significant perks include increased sales, improved customer engagement, and better flexibility for customers. This allows retail businesses to provide a more seamless user experience for their customers.

Helps Grow Your Customer Base

By offering multiple payment options for your customers to choose from, you’re letting them know that you care about their preferences. It’s not about you, it’s about them. Accepting all payment methods signals to your customer base that you sincerely care about their business and are willing to invest in the technology to offer better convenience and flexibility. By accepting more payment types, you’re opening the door to a larger customer base which in return, allows you to increase revenue.

 Speeds Up Checkout Process

If you’re looking to create efficiencies within your business, incorporating a mobile card reader into your operations may be a good place to start. According to an article by Reflexis, incorporating mobile solutions allows merchants to keep pace with their mobile-enabled customers who are continuously purchasing new technologies of their own. Adopting mobile card readers allows customers to avoid long lines by purchasing their items at any location in the store. This will also boost employee productivity by giving them the flexibility and agility to meet customer needs with fewer delays.

Increases Safety of Payments

Many people have the misconception that mobile readers cannot protect cardholder data as safely as a full POS system can. However, mobile solutions that accept payments on mobile devices are completely secure as well. While many are not physically connected to countertop POS systems, they still use the same encryption methods that other POS systems do. Cards that are processed through mobile solutions can only be decrypted by banks acquiring payment and are safe in merchant environments. Therefore, thieves will have difficulty hacking credit card information. Mobile payments also decrease the amount of time retail employees spend fumbling with cash. Instead, they can use that time to focus on providing customers with excellent service.

The ID TECH Solution

In recent years, more and more merchants have been using mobile solutions to bridge the gap between online and in-person purchasing experiences. The current purchasing experience has evolved and now requires companies to create seamless, personalized experiences where buying merchandise is directly tailored to each customer. Adding mobile solutions allows team members to directly engage customers while providing quick payment transactions. ID TECH provides the point-of-sale hardware that’s equipped with NFC technology to accept all popular payments and mobile wallet apps. Please see our entire line of secure and powerful mobile card readers by visiting our website.

About ID TECH

ID TECH has established a solid reputation in the industry as a leading payment peripheral provider with magnetic stripe, EMV contact, and EMV contactless expertise. We are also an OEM payment solution provider with the capability and willingness to customize solutions to fit our customers’ needs. With a strong foundation and continued success rooted in card readers, ID TECH is currently expanding its reach in the ever-evolving payments industry.

To learn more about ID TECH, please visit our about page.

 

RSPA is a 60-year-old organization that was initially dedicated to the point-of-sale industry with membership exclusively made up of POS resellers. As of today, RSPA has transitioned to an industry association including all stakeholders of retail technology, POS, and beyond. Their mission is to accelerate the success of their members in the retail technology ecosystem by providing knowledge and connections as an industry indispensable resource.

As a long-standing RSPA member, ID TECH has always been invested in the growth of the retail sector and has recently developed and readied new high-tech countertop and mobile devices for releases starting in late fall. Similar to Jim Roddy, President & CEO at the RSPA’s sentiments in his blog RetailNOW 2022 Analysis: “RSPA 2.0” Features Managed Services, ISVs, and Sophisticated VARs, we consider RSPA’s RetailNOW event to be a valuable vehicle where we can take a step forward in becoming a global, full-service provider of retail and payment technologies.

ID TECH at RetailNOW

Similar to our time at Electronic Transact Association (ETA), we spent much of our time learning at RetailNOW 2022.  The arrival of the pandemic flipped the retail sector on its head. Many non-essential retail stores had to shut down for months which resulted in loss of revenue, staff, and a huge focus shift to omnichannel retail strategies. However, there were some advantages to the arrival of the pandemic. As a whole, the retail sector learned that many innovative technologies and trends were quickly adapted to accommodate the world’s changes.

 

Evolving Retail Trends 

At RSPA we noticed so many upcoming changes that would deliver experiences designed for this new evolution in consumer behavior such as:

1. Engagement Methods have Changed:

According to Insider Intelligence, retail stores are set to experience exponential growth in 2022 for some years after. With the necessary rise of online sales over in the last few years, shoppers have become accustomed to shopping around for their purchases. As a result, retailers are investing in customer loyalty programs, sustainable products, and faster services.

2. Technology Upgrades Are A Must:

According to the Business News Daily, in order for retailers to remain competitive they must invest in omni-channel experiences that can connect physical and digital shopping experiences. This includes customer-friendly online and in-person store navigation and quick checkouts that mirror the online “Add to Cart” in the form of mobile solutions. The article also noted the benefit of technology upgrades extends to employees as well since newer technologies can increase efficiencies in employee work experiences.

Our “Technology Upgrade” Partner 

In keeping to the latest mobile trends in hospitality, ID TECH released a mobile tableside order/pay solution with our RetailNOW booth partner, MTech Mobility.

In 2020, MTech Mobility worked with BJ’s Restaurants to create a tableside order/pay solution that was durable enough to weather the fast-paced, spill prone environment of a restaurant. MTech designed a customized solution using Samsung’s Galaxy Tab Active 3 tablet and ID TECH’s VP3300. With long battery life, water-resistant hardware, and durable casing, the rugged Samsung tablets eliminated the need for frequent, costly repairs.

MTech designed a custom case for the devices that integrates with credit card readers, as well as a fast-charging docking station—with charge indicator lights—that enables cable free charging and reduces clutter.  With MTech’s mobile management services, the tableside order/pay tablets were configured with all necessary apps and MDM enrollments, then deployed across all BJ’s restaurants nationwide.

“Our mobile deployment for BJ’s Restaurants enabled an elevated guest experience, a simplified server workflow, expedited orders sent to the kitchen, and reduced operational costs for BJ’s,” said Nick Schwarz, Director of Retail and Hospitality at MTech.

Read our case study about our ultimate mobile solution with MTECH here.

For more information on how technology was impacted by the pandemic, read our blog here.

 

A Full-Service Provider 

It’s no secret that ID TECH has made strides towards having a larger national and global presence in the payment’s world. We have worked hard in preparation of our next generation product release and attendees at RetailNOW were able to get a preview of what’s to come.

NEO 3

Earlier in the year, ID TECH announced that we would begin releasing our NEO 3 platform of products in the fall of 2022.  The NEO 3 products are a series of dynamic, ruggedly designed products that can be seamlessly integrated into multiple industries and environments.

RSPA attendees were able to see our sleekly designed NEO 3 products along with fully customized, operational demo units that showed our products integrated into multiple unattended payments environments. Any attendees that visited our booth were able to interact with our future facing devices with the tap, swipe, or insert of their phones or test cards.

 

For more information on ID TECH’s NEO 3 platform of products, please visit our NEO 3 webpage.

Concierge 

If you visited us at RSPA then you may have noticed our new product preview, Concierge. Concierge is a software payment solution that enables customers to remotely manage and control their ID TECH devices from any internet hosting system. With Concierge, customers can monitor device activity, monitor device statuses, support remote updates, and also support device maintenance.  Concierge can also do remote updates such as loading digital videos and displays, remote configurations and firmware updates, and estate definition and management.

“Concierge is an estate management system that enables users to track their device’s data, perform mass updates, set up media preferences, and remotely download applications onto host devices,” said Yvonne Ning, Senior Product Manager. “Its upcoming release is huge because it propels ID TECH into becoming a full-service provider.”

For more information about Concierge, click here.

 

What’s Next? 

In response to navigating the changing tradeshow landscape, ID TECH’s presence at in-person events has adjusted as well. 2022 has been a big year for ID TECH with us debuting our largest booth, a new catalog of products, updating our branding, and evolving our company further into future. For 2023, we still plan on developing our tradeshow presence, unique branding concepts, and innovative product releases.

 

“It’s an exciting time for the payments industry as we get back to in-person tradeshows, and it’s an especially exciting time for ID TECH with all of the new products we are preparing to release.  It was great to showcase our NEO 3 product line at RetailNOW, and we look forward to continuing to exhibit our newest products, technologies, and services at more shows in the near future,” said Lance Ning, VP of Marketing.

Thank you to everyone we met at RetailNOW 2022; we look forward to reaching out to you in the future or seeing you at other shows. We’d also like to thank our partner, MTECH; we appreciate them sending us their Infinity Series tablet to display at our booth. Lastly, thank you to our amazing staff members who came together and made RetailNOW 2022 another tradeshow success.

For more information on ID TECH’s NEO 3 platform of products, please visit our NEO 3 webpage.

 

About ID TECH

ID TECH is a global leader in payment peripherals, with sales, manufacturing, and R&D facilities worldwide. The company has become a well-established payment solutions provider with extensive experience in data capturing and encryption products and services. Designing dependable, feature-rich products has made ID TECH a leading supplier of MagStripe readers/writers, mobile payment readers, contactless readers, smart card readers, barcode readers, POS keyboards, signature capture devices, PCI-compliant PIN pads, and other specialty products for OEMs, VARs, resellers, distributors, and key end-users. ID TECH provides both standard and custom solutions to support customer requirements.

For more information, visit www.idtechproducts.com.

 

The Marriott is deploying ID TECH’s VP8800, a countertop solution that accepts all popular payment and loyalty transactions, into their contactless kiosk pilot program.  Guests who prefer low-contact interactions can skip the traditional check-in altogether and – with the help of the VP8800 – complete an easy three-step process at the antimicrobial kiosk to check-in for a single reservation. In addition to traditional check-in, the kiosks offer guests a COVID-safe experience to print room keys, view personal folios, enroll in loyalty programs, and check out. The self-check-in kiosks are now available at select Marriott hotels across the country.

Read about the contactless kiosk deployment here. To learn more about ID TECH and our contactless products, click here.

 

You may have watched a movie at some point in your life where the concept of artificial intelligence (AI) captured your attention and left you imagining a world where it exists. You’re not the only one. Since the mid-20^th century, scientists and researchers have been on the course of making AI a reality for future generations.

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks. Using deep learning and natural language processing, computers can be trained to accomplish specific tasks by processing large amounts of data and recognizing patterns in that data. Here is just a handful of what AI can do:

• Automate repetitive learning and discovery through data
• Find meaning in language
• Adapt through progressive learning algorithms
• Analyze more and deeper data and make predictions based on that analysis
• Protect from Cyber Attacks
• Write music
• Recognize human faces and emotion

 

In addition to the benefits above, AI has become increasingly popular in the point of sale (POS) market. It provides consumers with the ability to both handle virtually all payment methods, as well as layer on customer loyalty, additional convenience and rewards. Join us as we look at some of what AI can accomplish within the POS world:

Contactless Payments

Contactless payments are all the rage right now, with strong trends further accelerated by the COVID-19 pandemic. Both allow customers to complete transactions with credit and debit cards, smartphones, and other devices that use radio-frequency identification (RFID) or near field communication (NFC) for making secure, no-contact payments. Customers simply hover their card or device of choice over the contactless reader to complete the transaction. It is a quick and easy solution that will not only keep customers safe but also decrease checkout time. AI-powered POS technology is able to walk customers through the checkout process and complete payments for them.

Enable Unattended Retail Experiences

AI is enabling retail to go unattended – moving goods and services into more locations, and bringing speed and convenience to consumers where they live, travel, play and work. As unattended retail becomes more sophisticated – buoyed by digital payments and AI – consumers are getting a self-service experience that is similar, or better than they get with an attendant in a brick-and-mortar store. Machines can identify you by facial recognition, remember your preferences, make recommendations, remember your preferred payment method and reward you for your repeat business, all without ever talking to a live person. The proliferation of the smart phone brought with it a consumer base that is accustomed to self-service and often seeks it out as a preference. Again, COVID-19 health concerns are only aiding in the growing popularity of these unattended experiences – a bright spot for retailers looking to expand and grow.

Answer Questions

One of the most frustrating encounters is when you are trying to use an unattended payment system and it does not cooperate. You are left dazed and confused with no one to communicate with. AI enables you to avoid this situation altogether. Much like Apple’s Siri product, POS providers are incorporating voice recognition software into their systems to assist customers through the checkout process. Now, if you have a question, you can simply ask the machine and it will have a preprogrammed response.

Perform Mundane Tasks

One of the greatest benefits of AI is that it has the capabilities to handle complex tasks, freeing employees of time-consuming and overwhelming work. This allows employees to increase overall organizational productivity, as well as direct more of their time and energy toward creating relationships and building their business. AI can perform a variety of tasks including arranging product pickups, customized screenings, inventory, and performing payment transactions.

Facial Recognition

Face recognition is not necessarily a new approach, as it’s a common feature in many smartphones today. However, as AI becomes increasingly popular and expands more into the POS market, we are likely to see it incorporated into payment terminals and other devices as well. The hope is that AI will be able to identify age, gender, and other aspects that may affect what an individual would order at a specific moment. This will allow companies to collect consumer data such as a person’s recent orders and create a more personalized customer experience based off that information.

Voice Ordering   

Another benefit of AI within POS is its voice recognition capabilities and the ability to understand multiple languages. POS devices now have the bandwidth to be programmed with a variety of dialogues, making it more user-friendly for those who wish to communicate with others who speak a different language. Customers can complete orders and ask questions without the fear of being misunderstood. This is especially useful in common areas such as airports, shopping malls and restaurants.

To stay ahead of the competition and create the most efficient and successful customer experience, businesses must keep track of current market trends including the rise of AI-powered POS technology.

ID TECH and Artificial Intelligence

ID TECH is expanding its product offering to incorporate each of these AI functionalities.  As a leader in contactless technologies and unattended payment solutions, ID TECH already offers an established lineup of NFC readers for accepting contactless payments.  In addition to its current products, ID TECH is developing innovative technologies to enable customers to integrate touchless operation, voice commands, facial recognition, and remote operation and device management into their everyday payment solutions.

ID TECH has also worked with its valued partners to integrate ID TECH products into their solutions.  For example, ViaTouch Media, Inc.’s VICKI is an AI Powered Smart Store that offers a touch free, unattended retail experience using ID TECH’s VP3300 OEM for payments. Ahead of its time, VICKI is a virtual attendant that can answer product related customer questions, arrange for advanced product pick-ups, and more. Plus, VICKI promotes social distancing and has COVID-19 virus killing technology that uses UV-C light to routinely clean products and interior surfaces after each customer use.

To learn more about the VICKI and the VP3300 OEM, download our case study here.

About ID TECH

ID TECH has established a solid reputation in the industry as a leading payment peripheral provider with magnetic stripe, EMV contact, and EMV contactless expertise. We are also an OEM payment solution provider with the capability and willingness to customize solutions to fit our customers’ needs. With a strong foundation and continued success rooted in card readers, ID TECH is currently expanding its reach in the ever-evolving payments industry.

To learn more about ID TECH, please visit our About Us page.

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When we hover our phone or smartwatch over a payment system at our local grocery store, vending machine, parking terminal, or other retail location, we rarely stop and think about the technological advancements that have taken place to get us to this point. While we may not think about it often, there are many factors that have played into the evolution of payment solutions – including enhancements in technology, increased customer expectations, and trial and error throughout the years.

It is common knowledge that payments are a crucial step in the interaction between a customer and the company they are doing business with. Payment marks a successful customer exchange, so it is important for companies to leverage the best payment solutions on the market and tailor their payment processes to their customers’ preferences.

To give you a better understanding of the evolution of payment solutions and how we got to where we are today, join us as we take a walk down memory lane.

 

History of Payment Solutions

Over the years, we have used quite the variety of payment solutions, and it is remarkable to look back on the past to see how far we have come. Even before the use of technology for completing transactions, people around the world have used insightful systems to track and organize payments.

Before 3000 B.C. – The earliest form of payment was known as bartering. People would simply trade items that held significant value to the other person including grains, livestock, animal hide and more. One example of this is in ancient China, where shells were used as currency.

3000 B.C. – Barley was the first official currency in the world. Unlike bartering, where an item could be one man’s trash and another man’s treasure, barley was considered valuable across the board. According to Agriplastics Community, the most common measure to control the exchange of barley was the Sila, which would amount to approximately one liter.

600 B.C. – The first coins appeared all the way back in 600 B.C. in what is now western Turkey. Because the coins were often made of precious metals, they had to be weighed to determine value. For time saving purposes, leather money was created out of deer and other animal skin.

500 B.C. – Roughly 100 years later, the Chinese invented paper which they started using as an alternative to coins and leather. Countries around the world were quick to adopt the use of paper currency, as it could be easily mass produced and was more convenient to carry around than heavy coins and large pieces of leather. Paper currency was the primary form of payment for hundreds of years.

18^th Century – In the 1800s, England and the United States both established gold as their standard of value which meant that the value of any form of currency was decided by first determining its value in gold. As time went on, people found it increasingly frustrating to carry around large sums of money. This led to the invention of paper checks and by the mid-1800s, they were the primary means of conducting large transactions.

20^th Century – While there were many payment methods throughout history, nothing compares to the success of the plastic payment card. The first bank-issued plastic card was created in 1946 by John Biggins and it set the tone for the many decades to follow.

 

Modern Day Payment Solutions

As you can see, payment solutions have come a long way. As customer preferences are continuing to shift toward contactless payments, mobile wallets and the use of RFID technology within watches and other devices is becoming increasingly popular. And, the growth of the ecommerce industry has required companies to search for reliable and secure payment methods for their customers paying online.

 

Credit and Debit Cards

Today, credit and debit cards are the payment method of choice for most people. Over the years, card payments have evolved to include magnetic stripes, chips and Near-Field Communication (NFC), which enables contactless payments.

Mobile

In 1997, the first mobile payment transaction was conducted by Coca-Cola. They used special vending machines where customers could pay by sending text messages from their mobile devices. Today, mobile payments are a very popular and viable form of payment across the world.  Many devices nowadays have a “mobile wallet” feature that allows customers to quickly and easily make purchases in-stores and online, withdraw cash from ATMs, and transfer money from person to person.

Contactless

As we continue to navigate the unprecedented times of COVID-19, many people are looking for ways to limit their interactions with both people and objects. One way they’re doing so is by using contactless payment systems which work by utilizing Near-Field Communication (NFC), a short-range wireless technology that allows for the contactless exchange of data over short distances.

While contactless payments were around before the onset of the COVID-19 pandemic, people have been much more receptive to adopting them into their everyday routine in their efforts to avoid contracting the virus. Even in a post-COVID world, it is predicted that contactless payments will continue to rise. In fact, MasterCard polled 17,000 consumers in 19 countries and found that they perceive contactless payments as “the cleaner way to pay.”

Unattended

As technology continues to evolve, unattended payment solutions continue to rise. Today, unattended payment solutions are becoming the new norm and you do not have to look very far to find one. Parking, ticketing, and retail kiosks, as well as restaurant drive-thrus, vending machines, and pharmacy dispensers are all examples of unattended payment solutions. Although they lack human interaction, unattended payments are often quick, secure, and provide an overall convenient experience for customers.

Biometrics

If you’re unfamiliar with biometric payments, they are carried out by using your fingerprint or other body recognition to complete a payment. An example of this would be the use of face recognition on your smartphone to unlock it. The same technology is used today to make payments. According to Frost & Sullivan analyst Ram Ravi, palm reading, iris- and facial-identification biometrics are all experiencing rapid market expansion and are predicted to grow in popularity over the next several years.

Payment Solutions of the Future

While you can’t accurately foresee the future 100% of the time, there are things you can do to give you a better idea of where payment solutions are headed. Paying attention and analyzing your customers’ buying habits will give you insight into who they are, what they buy, how they make their purchases and what payment methods they prefer. You should treat this information like gold, as it will allow you to determine shopping patterns and payment trends in the years ahead.

As mentioned previously, enhancements in technology and the creation of new payment methods will play a major role in the future of payment solutions. In fact, today’s most popular  payment solutions may disappear altogether as new advancements are made. Based on current trends, contactless card payments, mobile wallets, and voice-based purchasing solutions are predicted to rise in the future.

 

ID TECH: Building Payment Solutions for the Future

ID TECH is focused on building payment solutions for the future. We strive to provide high-quality products for a variety of industries and do so through our strong commitment to innovation. At ID TECH, we understand the unique demands of each industry and design solutions to fit those needs, including the following:

ATM – Our products provide secure, rugged, and future-proofed hardware to ensure quality outcomes time and time again.

Loyalty and Access Control – Through our new tap-and-go technology, it is easier than ever for your customers to redeem rewards, access concerts or sporting events, provide authentication, and more.

Parking – ID TECH is a leader in the parking industry due to its focus on keeping your parking technology safe, efficient, weather resistant, and easy to maintain.

Transit – Our payment solutions for the transit industries are durable, reliable, fast, and easy to operate. Our rugged, sleek payment solutions create an enjoyable and simple user experience.

Vending – Our fast and easy-to-use technology allows customers to grab their desired item and go. Our products are designed to provide user-friendly interactions while utilizing the latest in payment technology.

 

See the Future of Payment Technologies at NRF

Many of the payment industry’s future facing technologies will be on display at the upcoming tradeshow, NRF 2021: Retail’s Big Show – Chapter One, including some exciting new technologies that ID TECH will be highlighting.  Stop by the ID TECH booth to speak with our experienced sales team about the future of payment technologies!

 

About ID TECH

ID TECH has established a solid reputation in the industry as a leading payment peripheral provider with magnetic stripe, EMV contact, and EMV contactless expertise. We are also an OEM payment solution provider with the capability and willingness to customize solutions to fit our customers’ needs. With a strong foundation and continued success rooted in card readers, ID TECH is currently expanding its reach in the ever-evolving payments industry.

To learn more about ID TECH, please visit our about page.

 

Digital loyalty programs are becoming an increasingly popular way for businesses to connect with their customers and gain market share. But as the use of mobile payment platforms increase, how do organizations utilize mobile payment hardware to successfully manage and track transactions, while creating an enjoyable purchasing experience?

As a global leader in payment technology, ID TECH is examining loyalty solutions in various industries to see what companies are doing to enhance customer retention and stay ahead of their competition. In our most recent blogs, we examined loyalty trends in the transit and vending industries. Now, join us as we explore the top loyalty trends in the mobile industry:

Loyalty Apps

Loyalty programs are a great tactic that companies can use to show customer appreciation and drive retention. Because we live in a technology-driven world, a majority of consumers have their own smartphone that they take wherever they go. As such, many companies are integrating their loyalty programs into applications. This allows consumers to keep better track of their rewards and influences them to make frequent purchases in order to earn rewards points.

Points and Rewards

Reward points can be earned via mobile app or through an in-store purchase. Customers that are a part of the loyalty program are able to cash in their points for special discount offers or free items. There are multiple ways customers can wrack up points:

• Social sharing to promote sweepstakes
• Checking in on social media and/or their loyalty app
• Participating in special offers, such as ‘Buy 2, Get 1 Free’ etc.
• Participating in gamification incorporations, such as ‘Spin the Wheel’

Mobile Coupons

Because everything is transitioning to mobile, companies are taking things such as coupons and making them available on technology as well. Now, customers don’t have to worry about going out, buying the local paper and cutting up coupons. They can simply subscribe to the store loyalty program and receive mobile coupons via email, text, or mobile app.

In-Store Sign-Ups

Although a majority of people are switching to mobile loyalty solutions, there is still some difficulty when it comes to getting previous generation to participate. To combat this, many companies have employees dedicated to helping them sign up while they’re in the store. They walk them through the process and get them set up.

The ID TECH Solution

ID TECH is a leader in providing innovative loyalty payment solutions to organizations across the globe. Through our new tap-and-go technology, it is easier than ever for your customers to redeem rewards, access concerts and sporting events, and so much more. In this age of online retail, retailers are competing to gain market share with new customers; boost your brand awareness, customer loyalty, and market share with ID TECH’s digital loyalty solutions.

One of our latest loyalty solutions, the VP3300, allows you to incorporate triple-tracks MagSTripe, smart card, and contactless technologies. This all-in-one reader enables the acceptance of NFC/ contactless payments including Google Pay, Apple Pay, Samsung Pay, Interac, MasterCard MCL, and more. Learn more about the VP3300 and download the datasheet here.

About ID TECH

ID TECH is a leading payment peripheral provider with expertise in magnetic stripe, EMV contact, EMV contactless, and OEM customization solutions.  We have a strong foundation and continued success rooted in card readers and are always expanding our product offering to provide innovative solutions for the ever-evolving payments industry.  Payment security is an integral part of our product offering, and ID TECH as a company prides itself at being at the forefront of payment security in our design, development, manufacturing, and sales processes.

To learn more about ID TECH, please visit our about page.

 

In our previous article, we discussed Payment Trends in the Mobile Industry and how they have been rapidly adopted and integrated in stores and services across the world. Now, we will look at trends in the transportation industry and how companies are working toward enhancing the customer experience to increase sales.

Now more than ever, the transportation industry is focused on building integrated digital platforms, offering diverse payment channels, and improving the use of data to better understand their customers in order to improve their overall transit experience. To give you a better idea, here are some of the top payment trends in the transportation industry right now:

Decline in Cash Payments

According to the Federal Reserve Bank of Boston, mass transit companies have historically accepted cash or proprietary tokens to pay for public transportation. Tokens offered several advantages over cash as a means of collecting fares. Tokens increased consumer convenience by alleviating the need for consumers to carry exact change, and allowing them to purchase discounted tickets in advance, and it also reduced employee theft of cash.

Nowadays, however, many transit companies are restricting the use of cash and tokens as a means of payment. This is to prevent the spread of COVID-19 as some fear that it can be spread from person to person through physical tender. Companies are instead focusing on non-cash forms of payment, such as pre-paid passes, credit cards, and contactless payments.

Pre-paid Passes

Companies are encouraging customers to purchase pre-paid passes for transportation such as buses, subways, and highway tolls. This alleviates the risk of spreading the virus during the payment interaction and is a safer way of doing business. Customers are able to purchase the passes online from the comfort of their own home and then load it to their mobile wallet or simply display the pass on the dash of their vehicle. Doing so provides peace of mind and offers a safe, contactless payment solution.

Increased Use of Contactless Payments

Contactless payment technology is becoming an increasingly popular and preferred way to conduct business quickly and safely. Contactless tap-and-go payment transactions can be used by hovering your smartphone or credit card over a POS system’s NFC reader. Not only is it a safer method of payment during today’s unprecedented times because it eliminates the need to touch the payment terminal, it’s also much faster which contributes to a better customer experience.

A research report from Juniper Research predicts that by 2022, more than half of all POS transactions will be contactless. As such, transportation services that want to keep customers happy are adopting contactless readers to provide faster and safer ways to conclude customer transactions.

Transportation Apps

To go one step further, some transportation companies are creating applications to assist in the payment process, such as ClickBus and OMNY. Implementing apps allows customers to go through a contactless payment process and provides them with a safe option as well as a fast, convenient checkout. The decision to launch an app for customers also gives transportation companies the ability to track consumer behavior and base future decisions off of that data.

ID TECH’s Transit Solutions

Payment terminals require technology that is durable, secure, and reliable to keep up with high traffic and outdoor environments. Since transit terminals tend to be out in the open and used by hundreds to thousands of people, they must be able to withstand the wear and tear of constant use and harsh weather conditions. The best products with operate normally with years of use and will only require replacement from extensive damage or when the operator is ready to upgrade to a new migration path.  ID TECH’s transit products are rugged devices that have been tested in the most intense weather environments and proven to be the most reliable for customer transactions.

One such payment solution is ID TECH’s VP5300M – a PCI SRED certified MSR, EMV contact, and EMV contactless all-in-one secure motorized payment acceptance reader. Specifically designed as a direct drop-in replacement for older non-PCI certified motorized readers, the VP5300M easily fits into the same space taken by the vast majority of existing motorized readers, making it the perfect upgrade replacement to all existing unattended and motorized payment solutions. The VP5300M can be paired with ID TECH’s L80 and L100 PIN pads to accept PIN transactions, as well as the ID TECH EMV Contactless NFC Antenna Module to accept contactless transactions.

About ID TECH

ID TECH is a leading global payment peripheral provider with expertise in magnetic stripe, EMV contact, EMV contactless, and OEM customization solutions. We have a strong foundation and continued success rooted in card readers and are always expanding our product offering to provide innovative solutions for the ever-evolving payments industries. Payment Security is an integral part of our product offering, and ID TECH as a company prides itself at being at the forefront of payment security in our design, development, manufacturing, and sales processes.

To learn more about ID TECH and our dedication to achieving payment security, please visit our about page.

 

In our previous article, we discussed Payment Trends in the Vending Industry and the technological advancements that have resulted from the changes in consumer behavior. Now, we will look at how mobile payment solutions are being rapidly adopted and integrated in stores and services across the world.  Applications such as PayPal, Apple Pay and Google Pay are becoming increasingly popular as the years go by. In fact, the mobile payments market is expected to reach a value of $4.69 trillion by the year 2025.

As mobile payments skyrocket, companies are investing in mobile payment technology and paying close attention to consumer behavior to get a better grasp of their payment preferences. Here are some of the top payment trends in the mobile industry right now:

Increase in mPOS

Mobile-point-of-sale (mPOS) technology allows businesses to take their payment solutions wherever their customers may be. With mobile payment solutions, they can accept payments even when they’re not physically in their designated storefront.

Take popular fast food restaurant Chick-fil-A, for example. When their drive thru is busy, oftentimes they have their employees walk around to each car with a mobile device where they then take your order and complete your payment. This allows them to speed up the checkout process and get their customers on their way faster.

More In-Store Mobile Payments

Many businesses have had the option of accepting mobile payments for some time now, however customers still preferred to pay with cash or credit card. Now, contactless payment methods provided by mobile companies such as Apple, Samsung, and Google are being adopted at a higher rate than ever before. Because they offer mobile wallets that allow consumers to pay without touching any payment terminals, along with the extra benefit of additional security and authentication features, customers have been more inclined to pay for their purchases with their mobile device.

While mobile wallet payments only amounted to $75 billion in 2016, they are forecasted to grow to $500 billion by the end of 2020 – or about 80% over five years. Visa reports that already “29% of Americans now make zero weekly purchases with cash, with the percentage of people who use cash for everything dropping from 24% to 18% since 2015.”

Biometric Authentication

Payment industries have long been looking for advanced security methods to ensure sensitive data is safe from outside tampering. Face and finger scanning are two of the top mobile security measures available right now and are quickly replacing passwords and other authentication measures.

As mobile payments increase, we are likely to see an increase in biometric authentication as well. Biometric authentication is used in computer science as a form of identification and access control. It has become a reliable way for merchants to verify the identity of their customers and partners, and has also proven effective for preventing mobile wallets from being hacked.

E-Commerce to Drive Mobile Payments

We live in a world where convenience is everything to customers. The increase in mobile devices has sparked the growth of the e-commerce industry and customers are turning to their mobile devices to purchase groceries, shop their favorite stores, and everything in between. According to the E-Commerce Foundation, more than 25% of consumers purchase via mobile devices weekly rather than in-store.

Especially with the current COVID-19 climate, customers are more likely to shop online to comply with social distancing and stay-at-home orders. During these unprecedented times, many companies are providing free shipping and other incentives to customers who choose to do business via their mobile device.

ID TECH’s Mobile Solutions

ID TECH offers a variety of payment solutions for various industries including ATM, loyalty, parking, transit, and vending. Of those solutions is ID TECH’s VP3320S, a PCI PTS 5.X SRED mobile payment device that supports all contactless payment methods from tap-and-go cards to payments from mobile wallets. It is able to connect to iOS and Android host devices and is housed in an ultra-compact design, making it the ideal unit to be integrated into a mobile payment solution.

Learn more about our mobile solutions here.

About ID TECH

ID TECH is a leading global payment peripheral provider with expertise in magnetic stripe, EMV contact, EMV contactless, and OEM customization solutions. We have a strong foundation and continued success rooted in card readers and are always expanding our product offering to provide innovative solutions for the ever-evolving payments industries. Payment Security is an integral part of our product offering, and ID TECH as a company prides itself at being at the forefront of payment security in our design, development, manufacturing, and sales processes.

To learn more about ID TECH and our dedication to achieving payment security, please visit our about page.