1. The challenge: EMV is not just an add-on or enhancement to MS (Magstripe). EMV is a fundamental architecture change, a new foundation for payments of the future. Without a solid foundation, the house will fall down adding additional wasted costs down the road for retailers.
2. Where do retailers start? A collaborative approach with retailers headed by an independent consultant provided strategic versus tactical directives and was equally responded to by retail CMO’s and CIO’s. The study findings addressed the basis of the retailer’s business perspectives. One may conclude from the findings is that the retailer’s will demand flexibility and control:
a. 73% require choice of 3rd parties: Loyalty; Gift Cards; Activations
b. 68% require choice of acquires
c. 59% require choice of POS applications
d. 37% require choice of PINpad manufacturers
3. The Results: In studying the various retail environments and applying best practices and lessons learned revealed a number of areas in the retailer’s environment that would lead to business process improvements and leveraging advanced technology with the retailer in control of their environment. Some of the results were: Exceeded millions of dollars in capital savings; Reduced annual operational costs by $100,000’s; Improved efficiencies; Simplified complexity with knowledgeable workers; Improve security.
4. About PPR: Thus PPR was founded by retailers going through the process. An independent association of Payment stakeholders in 2009 awarding STJ Retail for its PPR methodology. PPR and its six component methodology are briefly discussed with the merchant. An independent study to understand the clients existing payment process. After brief discussions at a high level, we will identify the client’s process for re-engineering and identify change levers, quantify and qualify the change levers. The final report which includes timelines, architecture, measurable, and costs. Once approved by the merchant, a retailer will forge ahead with the merchant’s product life cycle, designs, and implements the software to the store environment. In an ever changing market, it is also important for a strong commitment to provide continuous improvements and keeping informed of industry updates.
ABOUT STJ RETAIL:
STJ Retail has been delivering EMV payment consulting, solutions and services since 2006. The first in Canada to roll out an EMV fully integrated solution nationally. Both our award winning product and services were received from both the retail and financial industry associations and have proven the test of time. After all, our solution was built with retailers for retailers. It is recommended to use proven & independent consulting services as a strategic partner when designing your payments architecture and plans. You can reach us at: email@example.com
A Retailer’s Quote: “Find the experienced knowledgeable workers; there are pretenders!”
For More Information visit: www.stjretail.com