Many payment service providers (‘PSPs’) are currently seeking to extend their reach from eCommerce to traditional ‘bricks and mortar’ retail by developing payment integrations. When doing so, they can find themselves confronted with an unfamiliar landscape: one where transactions originate on hundreds of point of sale (‘POS’) devices as opposed to from one central server; where each store needs to be treated as a separate entity; and where payment software must be deployed and maintained across multiple locations and device types.
The challenge for PSPs is to understand physical retail well enough in order to determine how to architect their solutions and how to make their solutions work in the target environment.
MWC Partners help PSPs to understand the issues that physical retailers face and how those issues differ to problems in the online space. We have a deep understanding of the retail IT environment, and we can help PSPs understand the target environment and design and integrate payment systems with retail IT systems. We identify the pieces of the solution that are missing and how to close any gaps.
Our knowledge of the retail and payment industries and of their different technologies mean that we understand how to approach each POS integration: knowing what the pitfalls are, what to avoid, and how to ensure a successful implementation. And as PSPs continue to innovate, MWC Partners can advise on new and emerging trends in retail technology.
Our dedicated payment integrations team have helped many of the world’s leading PSPs to develop solutions for physical retail. We understand the different solution architectures utilised and the increasing trend over the last couple of years to move some of the core payment software into the cloud.
This article gives more information about the rapidly evolving payment systems landscape. It discusses the trends reshaping the retail payments industry, the opportunities for payment services providers in physical retail, and how MWC Partners can help build the bridge between payment software and POS solutions. Contact us to discuss your payment integrations requirements.