I met with Tony Saunders the VP and General Manager of VeriFone UK and Ireland late into the second day. It was the last appointment before the stands began to pack up and leave for another year.
With the buzz of activity over the last 48 hours we were all beginning to wind down and Tony understood that a comfortable sofa would be just the ticket!
As VeriFone were the last on the list I’d had time to consider their presence in the retail market for a few days before. I’d noticed that almost every transaction I’d made with a card, from the tube station to M&S food had been processed through a VeriFone POS terminal.
I knew VeriFone were huge, I didn’t realise they had the lion’s share of the market. In fact, that share is worth over 60%.
This dominance is no accident as it was clear they were at the RBTE to roll out yet another innovative product which is set to make customers and retailers very happy indeed. VeriFone are evolving all the time and are not complacent about their impressive presence, in fact they’ve recently acquired Global Bay so they can offer the ultimate customer experience.
Already they have the fully mobile till that busts queues, enhances the customer experience and increases conversions. AS Tony said, “If you’re a retailer, every customer that walks out the door without spending anything is leaving with YOUR money”
Yet VeriFone aren’t simply about easy transactions as they are obviously the leaders in providing these card and ticket machines for retail giants across the globe, now with the acquisition of Global Bay they want to focus on giving the ultimate customer service.
Tony and I discussed how queuing at a till is quite an outdated way to buy these days as customers are used to almost instant checkouts online, yet when they get to a store they are expected to waste time waiting for a static assistant to see to them. The mobile tills help with this, as they can manage transactions and cut queues as someone is waiting in line, or even better they can get the person while on the shop floor.
Now, combine this with the new touch screen systems of Global Bay and you have the potential to give everyone the personal shopping experience, even in stores such as Next customers can benefit from their own personal stylist, which is proven to increase conversions, cross sell and upsell all the while increasing customer loyalty.
As Tony explained, “I liken it to shopping in Harrods, for example, if I go to the store to find a pair of Italian leather shoes, a personal shopper will help me with my selection. I may spend twenty minutes choosing and in that time I’ve had personal attention yet when I’ve decided I’m told to go and wait in a queue to pay which ruins the entire experience. “
He went onto explain that this new systems can assess data from previous visits or even shopping online, for example they can see if a shopper has bought certain items before which then brings up suggestions based on their purchase history. All of this is on one screen and displayed by a sales person on the shop floor. If the customer likes the suggestions on offer stock can quickly be checked and the consumer can check out there and then, leaving with a lighter pocket but with a bigger smile on their face.
This integration of Global Bay is exactly what is needed in bricks and mortar stores right now in order to fight the recession. It’s no secret that to survive, retailers must be able to offer the ultimate customer experience and VeriFone do just that.
VeriFone are the leading provider of payments terminals in the world with NFC and the multichannel experience high on the agenda VeriFone is ahead of the game in terms of contactless/NFC solutions and is championing technology designed to drive new services for retailers and a better experience for consumers. VeriFone believe that retailing is not just about devices. It’s about services and total payment solutions. VeriFone’s PAYware Ocius platform is reducing the burden of payments for retailers – making PCI compliance easier and helping them manage their POS estates and payment systems more effectively.