This session explores the changing role of the retailer in the payments ecosystem and identify macro trends that are evolving the payment experience for consumers, merchants and card players.
The goal of this session is to educate the audience on the companies and technologies at the crossroads of payments and retailing. The session also will pinpoint the opportunities and challenges this evolving alliance could bring to merchants and card payment players and how they might leverage their ties to create opportunities in infrastructure development, loyalty programs and alternative payment methods.
The session will:
- Examine the state of the card payment market and how the changing landscape, as well as outside factors, are providing opportunities for traditional retailers to move beyond their core product offerings and into consumer finance, including new payment methods.
- Discuss the potential of retailers to become a major force in the payments space as a result of their ability to leverage this close consumer-merchant relationship.
- Identify how retailers in markets, where regulation allows, are capitalizing on these close connections to consumers to challenge traditional banks by offering financial services, merchant-issued cards or launching mobile payment offerings of their own.
- Highlight how new technologies, such as smartphones, tablets, plug-in payment devices, contactless chips, barcodes, Bluetooth, geolocation and the internet are rapidly evolving the way a consumer pays and serving as the catalyst for a revolution at the point of sale both in offline and online environments.
- Discuss the importance for the retailer to maintain control of the consumer relationship and how some new payment concepts may force merchants to give up sole control of this information to third-parties entities, such as tech titans like Google, mobile network operators and mobile phone manufacturers, assuming these payment entrants gain a seat at the table.
- Highlight those retailers, such as Starbucks Corp., that have been ahead of the curve with the changes that could revolutionize the way a consumer may pay in the future.
- Offer an opportunity for questions and answers.