We’re headed to New York this week with new tech from our Innovation Lab that converges the ATM and POS. Come talk to us at the “BIG” Show, booth #204.
Disruption is the new normal. Sometimes this is driven by new tech; other times, disruption is born when the latest ideas from one industry are transplanted into another. At the National Retail Federation’s “BIG” Show this week, I anticipate innovative new examples of existing solutions migrating to new channels, domains, use cases and industries.
As a top provider of financial services solutions to retailers, we’re seeing an unprecedented convergence of trends and capabilities between banking and retail sectors. Both industries are adapting to an increasing need for omnichannel capabilities that blend a consumer’s mobile device with all other service and distribution channels.
In the same way mobile is changing authentication and payments in the financial services space, we see an opportunity for mobile to foster change in the retail self-check-out industry. Think about it: The core functions of an ATM – secure authentication and physical-to-digital currency enablement – are actually the same core functions needed for self-checkout in the new mobile-first world. Can you envision a seamless, omnichannel experience in which the ATM becomes an anchor point between bricks and clicks? We can.
Our CEO, Andy Mattes, has been making the rounds lately to talk about emerging use cases for the ATM. (Here he is on Yahoo Finance.) Andy references the surge in mobile payments that’s creating a greater need for the ATM to act as the on and off ramps for digital payments – and that’s echoed in the retail sector.
In-store mobile payments are expected to reach $118 billion by 2018. And we’re getting savvier about how we buy. Most of us have researched and comparison shopped on our smartphone while shopping in a brick-and-mortar store. What if we could use our smartphone – and those mobile wallets – to scan and purchase products as we put them in our cart? What if we could breeze past the checkout line, flash our smartphone at a terminal and walk right out of the store?
We’ll demo those possibilities on our new, mobile-enabled, self-checkout concept at the BIG Show. It’s a concept that builds on the capabilities and functionality of Irving, a screen-less cash dispenser we unveiled at Money20/20.
This is an idea that radically shifts the way we interact with ATMs, and has the potential to transform not only the way we shop but the entire check-out experience. It’s an idea born out of our deep knowledge of the financial industry and married with our vision for the future of payments. Come check it out at NRF and talk to us about how our innovations in the lab can benefit your own retail strategy.