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IndustryUpdate

of sale, in-store line-busting apps, and more on top of PARTNERSHIPS
Square's hardware and payments ecosystem," Square
said, adding that the solutions enable developers to
work with existing Square merchants in popular indus- First Data, Community Brands team up
tries such as retail and restaurants as well as new sellers Global acquirer First Data Corp. entered into a strate-
in verticals not traditionally supported by Square. gic partnership with Community Brands, a provider of
cloud-based software solutions for associations, non-
RESEARCH profits, schools and faith-based groups. The two com-
panies plan to integrate secure payment processing
POS market to top $125 billion, GMI finds with the Community Brands association management
software solutions. The strategic integration will deliver
According to a new report by the market research and comprehensive features, including recurring billing,
strategy consulting firm Global Market Insights Inc. the account updater and other value-added functionalities
POS terminal market will exceed $125 billion worldwide to clients, the partners stated.
by 2024. The growth is accredited to the rising demand
for cashless transactions and the ease of convenience Shift4, protel North America align
offered by these devices, which also help minimize total Secure payment solutions provider Shift4 Payments and
cost of ownership by delivering great performance, reli- protel North America, a provider of cloud-based and on-
ability and remote manageability; they also help the premise hospitality solutions, formed a strategic part-
retailers carry out detailed payment, inventory manage- nership to deliver hoteliers a comprehensive hospitality
ment, bill printing and loyalty programs for customers, offering that combines advanced property management
GMI stated. software, highly secure payment processing, and full

In-store contactless payments on the rise merchant services. Shift4's complete payment solu-
tion is fully integrated with protel's hotel management
New data from Juniper Research published in its software – including protel Air and protel On-Premise
report titled Will Apple Continue to Dominate Contactless – to provide hospitality businesses with everything they
Payments? indicates that, driven by payment cards and need to process payments and operate their property
mobile wallets, in-store contactless payments will reach securely and efficiently, according to the partners.
$2 trillion by 2020 and represent 15 percent of total POS
transactions. Researchers also determined that contact- TruRating, Datacap join forces
less payments will exceed the $1 trillion mark for the TruRating, which specializes in POS customer feedback
first time in 2018, a year earlier than Juniper previously solutions, and Datacap Systems, a provider of integrated
anticipated. payments middleware, reported that TruRating will be

Payments Forum issues market snapshot launched on Datacap's POS platform in the third quar-
ter of 2018. TruRating noted that it provides easy-to-
According to the U.S. Payments Forum, EMV chip cards understand insights via an online dashboard and mobile
are helping to prevent in-store counterfeit card fraud, app and represents the newest release in Datacap's
and the U.S. payments industry continues to focus on value-added offering. Georgina Nelson, TruRating CEO,
payment technology implementations that can increase said Datacap's mature presence in the payments space
security while creating convenient cross-channel experi- "provides even more credibility to our solution, and
ences. This finding was part of the forum's Summer 2018 we're delighted to be working with such an established
Market Snapshot, which provides updates on U.S. EMV partner to provide merchants with access to previously
migration, emerging payments technology implementa- untapped customer insights."
tions and new resources for the payments industry.
Wirecard, comdirect offer contactless
Splitit finds slow checkout payments via wearables
causes permanent losses
Digital financial technology provider Wirecard and
Eighty-seven percent of online shoppers will abandon German online bank comdirect are facilitating contact-
their carts if the checkout process is too long or too less payment via wearables. In partnership with Visa
complicated, according to a recent survey by installment payment technology, the companies will offer these
payment solution provider Splitit. Retailers should be payments during the 2018 German Beach Volleyball
even more alarmed to hear that 55 percent of consum- Championships in Timmendorfer Strand from Aug. 31
ers would not only abandon their carts, but also never to Sept. 2, 2018. During the event, approximately 5,000
return to that retailer's site, Splitit noted. “With cart wristbands will be distributed to spectators, which can
abandonment rates so high, retailers still have work to be used for a variety of payments at the event venue, the
do in streamlining the online shopping experience,” said companies stated.
Gil Don, CEO and Co-Founder of Splitit.

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