Author: admin

Payment Card Data Security At The Point-Of-Sale (POS)

Posted on by admin

As retail businesses adopt more omni-channel retailing methods such as e-commerce, m-commerce, social selling, and mobile payments, standard online and mobile payment frauds also pose a problem, exposing confidential information and credit card data of the customers. Hence, businesses and governments are under increased pressure to prioritize data security. To address such issues related to financial data theft and hacking, the Payment Card Industry Security Standards Council (PCI SSC) was formed on December 15, 2004, that released version 1.0 of the Payment Card Industry Data Security Standard (PCI DSS), a proprietary information security standard for organizations to increase controls around cardholder data.

PCI DSS represents a minimum set of control objectives which may be enhanced by local, regional and sector laws and regulations. Additionally, legislation or regulatory requirements may require specific protection of personally identifiable information or other data elements (for example, cardholder name), or define an entity’s disclosure practices related to consumer information. Examples include legislation related to consumer data protection, privacy, identity theft, or data security.

The Payment Application Data Security Standard (PA-DSS) is a subset of the PCI DSS.  The PA-DSS applies to software vendors and others who develop payment applications that store, process, or transmit cardholder data as part of authorization or settlement, where these payment applications are sold, distributed, or licensed to third parties. In order to ensure that all sensitive cardholder authentication data is secure, PCI requires merchants, banks, and all other parties that use a third-party application for processing payments to select one that meets the PA-DSS standard.

The following chart details what is required to be PCI DSS compliant (and therefore what a payment application must support to facilitate a customer’s PCI DSS compliance).

ETP Blog-credit-card-data-security-at-the-point-of-sale

The ETP V5.5 Omni-Channel POS solution is certified as PA-DSS v3.1 compliant by the PCI SSC. It means that retailers can now feel more secure with the ETP V5.5 POS solutions to provide a secure payment card-related transaction process for their end users.

Being PCI DSS compliant means that, ETP V5 software does not retain, block or store and securely delete any sensitive payment card validation data, provides secure authentication features and facilitates secure remote access to the payment application while maintaining a log of all payment application activity. The PA-DSS certification for ETP V5 Suite is especially significant for customers of ETP Store (POS) and ETP MobileStore (Mobile POS) solution, as ETP V5 is one of very few retail software solutions to be PA-DSS compliant on the market.

“Keeping our customers secure and successful is the number one priority for ETP. We continually push beyond the ordinary and develop omni-channel retail software solutions with secure payment applications that protect wireless transmissions, facilitate secure network implementation and remote software updates and encrypt sensitive cardholder data over public networks,” said Naresh Ahuja, Chairman & CEO, ETP Group. “PA-DSS accreditation is by no means a simple task. However, by accomplishing it, we make it easier for our customers around the world to apply for PCI PA-DSS certification, where the use of compliant software solutions is a key element of demonstrating their ability to protect sensitive card data.”

For more information on ETP V5.5 Omni-Channel POS solutions, click here.

Pop-Up Retail: Understanding The Value Of Opportunities

Posted on by admin

ETP blog popup-stores-retail

The impressive growth of pop-up retail can be seen in the fact that it was a zero dollar industry in 2003 but flourished into an 8 billion dollar industry in 2013. Pop-up continues to drive innovation and offer several strategic opportunities thus adding a new dimension to retail.

Some of the strategic opportunities presented by pop-up retail:
1. Retailers can target a niche audience.
2. Chance to experiment with an economic alternative to full-scale retail set-up.
3. Allow retailers to test new products, concepts, and markets.
4. Derive valuable consumer insights economically and with minimum inventory.
5. Retailers can create buzz and imprint their products on the customers’ minds.
6. Tap into “massclusivity” and stimulate consumer curiosity with elements of surprise and urgency.
7. Clear old inventory and stock.
8. Aggressively promote merchandise around a finite duration of time such as season, festival or holiday.
9. Create a learning center for customer

Retailers have been quick to explore the popup retailing concept:
– In 2003, Target pioneered the pop-up model with a 1,500 sq.ft. store in New York City that for showcasing designer Isaac Mizrahi’s women’s clothing over five weeks.
– Nike created a Runner’s Lounge in Vancouver with free massages, snacks, drinks, and the opportunity to test their new line of shoes designed exclusively for running.
– Collaborating with global brands – Adidas, Levi’s and Sony Ericsson, MTV promoted limited edition apparel and high-tech electronics by setting up pop-up stores in German cities for a week at a time.
– Exploring the idea of a traveling pop-up store, Gap fashioned a school bus with 60’s themed apparel and accessories.
– E-commerce retailer, Bluefly.com opened a brick-and-mortar store in New York to unload slow-moving stock in a temporary boutique.

To set-up a successfully running pop-up store or site, retailers need to employ the right pop-up technology. Web-based point-of-sale (POS) and mobile point-of-sale (mPOS) integrated with customer data and inventory management tools using the right retail software will enable the pop-up store staff or self-serve kiosks to answer customer queries and access real-time information about product availability and provide superior customer experience. Retailers must ensure strong security measures at the pop-up locations for protecting transaction data going across the network while providing connectivity.

Retail Insights (Infographic)

Posted on by admin

The retailers that will move ahead of the pack in the coming year are those that can deliver a consistent, clear, clean, simplified, and seamless message across all channels.

ETP blog retail-insights-infographic

Retailers looking into the future can be sure that no matter what trends and technologies are coming, an omni-channel strategy that is propelled by data and streamlined by automation will lead the way. Keep an open mind about innovations in omni-channel technologies in the future.

Team ETP Shares Its Domain Expertise And Builds Valuable Partnerships

Posted on by admin

ETP has, over the years, participated extensively at industry events and trade shows focused on retail technology solutions. At these events, ETP has been constantly building long-term partnerships with market leaders, customers and prospects in the retail space. Through its various engagements at retail and technology events, ETP has been sharing its invaluable domain expertise acquired over more than 25 years of being associated with the retail industry across the Asia-Pacific, India and the Middle East.

With the fourth largest population in the world and a booming economy that is spurred by a growing number of millennial smartphone users (i.e., in the age group of 18 to 30 years) connected to the Internet, Indonesia is fast approaching a “big bang” for ecommerce in terms of scale and profitability. ETP was the Main Sponsor at the recently concluded Customer 360 – From Offline To Online – How To Get Your Company Ready  event held in Jakarta, Indonesia on 27th October 2015. At the event, the ETP team interacted with leading Indonesian retailers from different verticals such as PT. Mitra Adiperkasa (MAP), Everbest, Lee Cooper Indonesia, Depo Bangunan, Pasaraya, Kawan Lama, Electrolux, CODE inc., Trikomsel and many more, to share and understand perspectives on how to navigate the dynamic demographics where online and offline merge in retail and how retailers can gain from the benefits that e-commerce offers in the ‘brick-and-mortal’ retail world.

Naresh Ahuja, Chairman & CEO, ETP Group, presented his views on the emerging retail technology for retailers to activate seamless operations that control all the customer touch-points and enhance the omni-channel brand experience.

ETP booth at Customer 360 event
Naresh Ahuja (centre), Chariman & CEO ETP Group with Arun Samak, CIO, PT. Mitra
Adiperkasa (MAP) and David Irawan, CIO, B&B Incorporated

ETP participated at the 17th Asia Pacific Retailers Convention & Exhibition held from 28th-30th October 2015 at the impressive Mall of Asia Complex, Pasay City in the Philippines. The team successfully networked with several leading retailers from Indonesia, Malaysia and the Philippines such as APRINDO, Primer Group, Rustan’s Group, PowerMAC, BLIMS Fine Furniture, Watch Republic and many more, to exchange their thoughts and learnings on how omni-channel retailing is disrupting the world of retail and on the new business models, strategies and technologies necessary for expanding retail business in Asia and in the global market.

ETP at the 17th Asia Pacific Retailers Convention & Exhibition, The Philippines

ETP also attended the Middle East Retail Forum and the InRetail Summit events held in Dubai, U.A.E. from 27th-28th October and from 14th-15th September 2015, respectively. Both these events brought together the who’s who of retail in the Middle East. Discussions and networking sessions at the events showcased the trends and opportunities that are making the Middle East an attractive marketplace for leading retailers across the globe, the retail dynamics in the GCC, customer centricity and omni-channel retail. The ETP team wrested optimum leverage of the opportunities that the events provided to strengthen its existing relationships with leading retailers from the region and build new ones.

At the India Retail Forum held in Mumbai, India on 15th-16th September 2015 that witnessed a gathering of more than 700 of the region’s sharpest minds in retail and retail realty businesses, ETP’s team of domain experts connected, collaborated and created outstanding concepts for harnessing the future of retail in the omni-channel era and building the roadmap for customer centric retail organizations through technological innovations that enable the modern retailers to delve deep into the consumers’ minds and offer them a hassle free, grand, unified shopping experience across the ‘phygital’ retail landscape.

ETP was the Technology Insights Partner at the South East Asian Retail Innovation & Technology Summit  held in Jakarta, Indonesia on 16th-17th October 2015. At the event, esteemed speakers and delegates from retail, realty, technology and finance businesses shared their experiences and knowledge on investment opportunities, channel strategies, product marketing, supply chain and technology innovations for the mobile-first generation.

Varun Suri, Program Manager, ETP Group speaking at the event

Varun Suri, Program Manager, ETP Group, presented his views on Business and IT Innovations Asian Leadership – Focusing on Demand Chain Management. He emphasized on the importance of customer-driven operations rather than supplier-driven operations. Consumers do not wish to spend precious time in deciphering complex promotions or applications, they would rather pay more and be instantly gratified. Ease and simplicity needs to be permeated in every retail process to deliver on customer expectations.

Are Pop-Up Stores Adding A New Dimension To Retail?

Posted on by admin

According to Pop Up Republic, a marketing support company that caters exclusively to pop-up shops, “a pop-up store, also referred to as ‘flash retail’, is a shop, a restaurant, a collection of shops, or an event that opens quickly in a temporary location, often occupying abandoned storefronts and vacant mall spaces and is intended to operate for a short period of time.”

The beginning of the 21st century saw the first pop-up stores emerge across the U.S. and in Europe. The last few years have witnessed a rash of pop-up stores as they are perceived to be inexpensive alternatives than year-round rentals that can generate a lot of retail buzz for brands when required. For example, they are often strategically placed during the holiday season for shoppers or put up just in time for the launch of a major product.

The latest versions of pop-up stores are accompanied with more elaborate displays, high-end signage, sophisticated POS systems, latest mobile commerce functionalities, and more interactive and engaging experiences that nurture useful customer-retailer conversations. Retailers who understand that consumers rush to and embrace the various kinds of pop-up spaces, have come to view pop-ups as a strategically innovative and legitimate channel of connecting with their customers.

Today, retail in-store customers can browse through comparative pricing data right from their mobile devices. Whether the consumers are walking into a retail store to buy a product after carefully researching about it online, also known as “webrooming”, or whether they are looking at products in the store with the intention of buying it online, also known as “showrooming”, shopping is evolving at a rapid pace.

Pop-ups are the perfect avenue for online stores to make flash appearances and provide a look and feel of their products to shoppers and if done properly, have them become intrigued enough to buy them online.  A brick-and-mortar retailer can set up a pop-up for showcasing or launching a new product with minimum inventory.

The line between the online and offline world is blurring at a swift pace and the retail industry needs to keep up with the evolving shopping habits of the consumers. Pop-up retail will prove to be a catalyst in this direction.

The impressive growth of pop-up retail can be seen in the fact that it was a zero dollar industry in 2003 but flourished into an 8 billion dollar industry in 2013. Pop-up continues to drive innovation and offer several key opportunities thus adding a new dimension to retail.

Why Retailers Need To Leverage The Power Of Social Media

Posted on by admin

The online world is nothing but a humungous super-complex web of connections that has made the communication process quick, easy and omni-dimensional. Social media has taken the process of communication through connection to the next level which is popularly referred to as engagement.

Social media is an integral part of people’s daily lives today. More and more people are getting onto various social media platforms each day to connect with their friends, peers and colleagues. In the last few years, people are also connecting with the brands they like and businesses that offer these brands through social media. Further, the usage is not just limited to connecting and communicating. Most people are also using it as a means to opine and review products or services and to express their thoughts, beliefs and experiences. In a way, these tools have given people a power to speak and be heard. As such, social media engagement has become a necessity in most customer facing businesses such as retail.

Retail today is more of a customer driven business. Most of the retailers and retail brands are aligning their business models and strategies to become more customer-centric by tailoring their products and services to suit the needs and demands of their customers. Those who haven’t done so, need to move in this direction swiftly or they will not be able to sustain and compete. However, this can only happen if the retailers know and understand their customers better. To gain these insights, retailers need to rely on appropriate technology. This is where social media can be leveraged to their benefit.

Retailers can use social media platforms to solicit feedback – both positive and negative, from customers. This provides valuable insights into the customers’ desires, enabling the retailers to better understand their customers’ expectations and try to exceed them through better customer experience and relationship management.

Retailers can not only listen to and monitor what their customers – both current and prospective, are talking about, but also they can engage directly using social media as a channel for establishing relationships with the customers. Furthermore, shoppers are increasingly using social media platforms to seek advice and recommendations about products to help them make better shopping decisions.

Retail brands and businesses can also make use of these platforms to pitch their products highlighting the features and benefits, to create awareness and provide essential information either through regular updates or advertisements on social media. Retailers can also plan customer-centric marketing campaigns and promote them on social media platforms to reach vast audiences in no time.

Nowadays, social media applications can also be used for shopping directly. With omni-channel retailing coming into play, social media becomes an essential channel for retailers to service customers. Yet, this is not all. Due to innovations in mobile technology, the rate at which people are getting onto social platforms like Facebook, Twitter, LinkedIn, Google+ and many others using handheld mobile devices is rising exponentially, making social media an extremely powerful medium.

5 Questions – Before Investing In Retail Business Intelligence (BI)

Posted on by admin

5-questions-for-retail-business-intelligence

Big data eliminates the uncertainty out of the enterprise, provided the right software and tools are used to break it down into accessible bits of information. When deduced and used correctly, it helps retailers identify the pain and gain areas of business. It also provides actionable insights into customer behaviors, demographics, brand affinity and the ability to create targeted campaigns.

But will Big Data give you the right data? Ask the following before investing in retail BI solutions.

Who is your customer and how effectively can you reach out to him?
While Big Data can help you be more strategic in customer engagement, it is necessary to ascertain who your audience is and how will you reach out to them. Once you have understood this, you can allot the necessary KPIs to the data project and establish the foundation of success.

Does it provide the crucial 80/20 analytics?
Retailers and marketing teams understand the value of deriving the 80/20 analytics. On average, 20% of your customer generate 80% of your top-line revenue. So, while you might be able to acquire information on thousands of customers, it is more important to know your top customers. Understanding their traits and ticks would potentially surge revenue and recommendations both.

Do I have the employee strength to support it?
The influence of emergent technology permeates all industries. There is often high pressure and anxiety related to ‘Big Data’ adoption, as a business process. In the eagerness to obtain the latest technology software and application, retailers tend to miss the long-term requirements of the system. . The BI application phases are to be supported by people, within the organization, with the right skill set to derive value from the vast enterprise data and validate system results.

Do I have the company culture to sustain it?
Big Data technology wielded as a demonstration of competitive advantage will only take you so far. Deep and comprehensive planning is essential to understand the levels of analytics needed by the current and projected business scope.

Is it social?
Social media integration with the BI system is crucial to not just accumulate, but also to validate CRM data. It helps generate a community-based correlation and engagement with customers. Both business functions, BI and social media, feed information to each other. This helps you reach out to a bigger circle of potential prospects with targeted campaigns and communication.

Omni-Channel Technology Solutions For Your Retail Business

Posted on by admin

Retail has been transformed by technology – driving greater personalization for consumers, more conversions for retailers, and more traffic on multiple retail channels. Omni-channel retailing has become the norm in the industry and customers expect access to retail brands through multiple channels, at their convenience. Omni-channel retail adaptation continues to grow further as customers embrace emerging technology and its multiple access points. Your omni-channel presence and perceptivity, and not just your product, makes or breaks your brand image today.

Customers expect a uniform and meaningful experience across all retail channels and instant connectivity to retail brands regardless of how and when they connect with the physical stores. They expect retailers to know what they want and how they like to make their purchases. Shopper expectations identified in an recent IBM survey showed 59 percent of shoppers want retailers to demonstrate that they “understand” them, 64 percent expect retailers to know what products they like, 61 percent want retailers to know the types of offers they prefer, and 59 percent want retailers to tell them when frequently purchased items are going on sale. Further, 54 percent said they expect retailers to know if they are new or returning customers, and 53 percent want retailers to maintain a cross-channel history of all purchases so they can receive personalized offers.

Thus, the need of the hour for retailers is to get closer to the customers through all channels, offline and online. Retailers need to drive traffic to the brick-and-mortar stores and e-commerce platforms simultaneously. Marketing campaigns must be aligned to the right retail channel with the right message at the right time and right price. Customer data can be used to provide predictive analytics for a strong promotions foundation. Incorporating integrated technology allows enterprises to explore successful offerings that link online and physical shopping.

Retail solutions such as the ETP V5 are fundamentally integrated with omni-channel capabilities that simplify business processes and offer retailers the power to create highly targeted, immensely effective and easily measurable marketing promotions; thus, allowing retailers to determine their return on investment (ROI) and improve their bottom line.

ETP V5 Retail Software Solutions comprise of the omni-channel store solutions, omni-channel promotions planning, omni-channel merchandise planning and omni-channel business analytics.

Point-Of-Sale Security – How To Avert Retail Cyber Attacks

Posted on by admin

ETP retail-pos

As point-of-sale systems adopt new-age Retail POS Software, retailers will have to brace themselves with the security threats that may come with it. Devices that handle credit and debit card information are at a constant threat from cybercriminals who want to steal such data.

New and emerging retail POS and Retail CRM Technologies are enabling retailers to exceed customer expectations. The customers in turn demand greater convenience and value. Greater convenience comes through greater connectivity between retailers and customers across multiple touchpoints be it channels, locations or devices. And such gratifying levels of connectivity offer convenience not only to consumers, but also to cybercriminals.

Lately, connected point-of-sale (POS) systems are being highly targeted by cybercriminals and specially-designed viruses for such purposes are further indication that all kinds of connected devices may be susceptible to attack now.

For more than 80,000 customers around the US who bought a $5 footlong sandwich at Subway, the second largest fast food chain with over 32,000 outlets in 90 different countries, it was a ticket to having their credit card data stolen by a band of Romanian hackers who later pled guilty to having stolen payment card data from the point-of-sale (POS) systems of hundreds of businesses, including more than 150 Subway restaurant franchises and at least 50 other retailers, using ‘sniffing’ software to make illicit charges. And those retailers made it possible by practically leaving their transaction information freely open to the Internet, letting the hackers ring up over $3 million, as mentioned in this article.

The cyber attacks on US retail giants Target, Neiman Marcus and Michaels Stores – which involved malware on POS systems – had a profound impact on sales and consumer confidence in the safety of credit-card information at retail POS terminals. Potential hauls for successful cybercriminals provide plenty of motivation to target POS.

“Retail cybercrime is the crime of the future,” says Dave Marcus, director of security and communications at security software firm McAfee. “Instead of coming in with guns and robbing the till, criminals can target businesses, root them from across the planet, and steal digitally.”

As retail businesses adopt more omni-channel retailing methods such as e-commerce, m-commerce, social selling, and mobile payments, standard online and mobile payment frauds also pose a problem, exposing confidential information and credit card data of the customers. This means that retailers could soon find themselves being attacked both online and on the high street.

Despite this worrying trend, by translating the same principles of security from the real world to the POS network, a security defence strategy can be put in place to prevent cyber criminals from gaining access to your sensitive, valuable data.

The ‘POS’tulates to be followed to avert cyber security attacks on retail POS system are:

• Create a response plan that will potentially address the incident of a cyber-attack. Test the execution of this response system on a periodic basis.

• Perform a thorough audit of data that is sensitive and confidential to keep a record of their storage locations on the network as well as their instances and volumes. This gives an understanding of where the valuable information is available.

• Get rid of any unauthorized instances of the sensitive data based on the company’s information governance policies, so that the exposure of such data is minimized.

• Create and regularly update standards of normal activity for each of their endpoints.

• Employ specialists who deal with information security to proactively fish out anomalies in real-time reports that are generated. These should be considered as signs indicating that the network’s security has been compromised and the attackers have access to the data.

Are You Working On Your Customer Experience Shelf Life?

Posted on by admin

ETP retail-technology-solutions

 

The advent of modern technology has added a new dimension to the way retail businesses operate. There has been a significant shift from product or operation based retailing to a more customer centric one. Focus on customer experience has become the new norm and the prime necessity for every retail business for sustenance and growth. This is a new challenge for retailers – to constantly meet expectations and thus sustain the customer experience ‘shelf life’.

Customers today, have the power of choice – a widespread range of products and alternatives, an unending list of retailers and multiple channels to shop from – they can choose from and use several permutations and combinations, thus forcing the imperative need for retailers to constantly deliver the best customer experience throughout the retail customer journey.

Every product has a shelf life, some last long and some don’t. So also, the customer experience has a shelf life; but unlike products, retailers can work towards extending its length and retaining it. To do this, retailers need to quickly adapt to latest industry trends. They must enhance their business models by allowing infusion of emerging technologies in their operations. Below are a few tips on how this could be done:

–         having omni-channel capabilities for ensuring overall presence

–         using mobile POS counters for quick customer service

–         acquiring and using customer feedback to enhance the shopping experience

–         employing effective CRM solutions to foster brand loyalty

–         planning and executing customer centric marketing and promotions campaigns

–         using the right tools for merchandise and inventory management

–         engaging with the customers using social media and other channels

–         capturing, analyzing and integrating real-time business data to

In this dynamic, technology influenced and highly competitive retail environment, it is essential for retail businesses to stand out and surpass the competition in delivering and sustaining customer experience thereby, working towards longer customer experience shelf lives. This will enable retailers to not only retain existing customers, but also acquire more by virtue of goodwill fostered amongst the current ones.