Page 1 - GS220901

September 12, 2022 • Issue 22:09:01

Cultivating POS intelligence

"Merchants can better predict risks to their inventories and
can better handle variable order flow," Talapan said. "In
payments, we are seeing smarter detection of fraud, as well
as increased fault tolerance. We are also seeing customer
behavior intelligence drastically improving conversions
and reducing the sales cycle." Intelligence makes payment
solutions resistant to fraud engineering and optimizes
performance, security, and operational characteristics, he
added.

Talapan additionally pointed out that intelligent, self-
learning systems become smarter overnight, citing, for
example, that the same Alexa you may have purchased
in 2014 can do a lot more now; or you may notice new
features in your car, delivered over the air—some of them
simply updating existing safety and driving models, like
emergency stop, lane following, etc.; and the thermostat
By Dale S. Laszig in your smart home may learn when you're typically in
the house and automatically adjust to your preferred
t's hard to fathom waiting thirty days to balance a temperature during those times.
merchant account or saving paper receipts in shoe-
boxes for seven years, but that was once our real- Carolina Rojas, senior associate at Distributed Ventures,
I ity. Forty-odd years ago, screechy modems ferried suggested the old-school paradigm is alive and well in the
authorization requests over phone lines, waiting for an insurtech sector, where she noted numerous organizations
answering screech to train and synchronize and eventually rely on outdated legacy systems. "Few companies know
complete a handshake. While these gestures still exist, they how to implement successful strategies and navigate the
have been subsumed by more secure, intelligent, agile and disjointed workflows all together," she said. "A successful
transparent digital commerce. example would be automating insurance payments from
start to finish. This type of technology innovation in the
Contrasting yesterday's dial-up POS with today's data- insurtech payment space addresses the need and ability to
driven solutions demonstrates the payments industry's evolve beyond siloed legacy systems."
resilience. And in the fullness of time, today's digital
commerce may seem equally quaint to future generations.
This article explores the role of intelligence in payments,
sharing perspectives from designers and architects of next-
generation payment technologies. Contributed articles inside by:
Old school paradigm
Allen Kopelman .....................................................................................18
Adrian Talapan, co-founder and CEO of Fee Navigator,
compared early payment systems to freight trains that Natasa Cvijanovic .................................................................................28
moved data back and forth in a preprogrammed, linear Dave McGibbon ....................................................................................32
way, in what he termed "the old school paradigm." As the
payments environment changed, POS systems became Chad Otar ................................................................................................34
more intelligent, he stated, and began to anticipate
historical and forecasted trends.
Continued on page 26