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MAG CEO, Mark Horwedel, Quoted in article "Full-Service Payments: Does Loyalty Trump Ubiquity?"


Point of sale systems have long been native to brick-and-mortar stores, but full-service payment offerings are now disrupting how they operate. The advantages of a full-fledged Payments as a Service system are being considered by merchants now tethered to more traditional POS systems built only for processing payments.

Retailers acknowledge that POS systems must flex to accommodate loyalty tracking, analyzing payments data and enabling mobile capabilities – and those requirements have many merchants looking to upgrade their old systems. PaaS solutions, which enable a full suite of “payments-plus” solutions will allow merchants to accommodate new features and functions without having to worry about staying current with emerging mobile and other connected commerce opportunities.

“We’ve had a history of isolated, standalone POS terminals that were out there just to handle payments,” said Mark Horwedel, CEO of the Merchant Advisory Group, a resource and advocacy group that represents more than 100 of the country’s largest retailers. “I think those systems will be replaced.”As merchants transition to full-service payment systems, several big brands like Dunkin’ Donuts and Starbucks are moving onto using PaaS-based systems that utilize their own homegrown payments solution, which not only save them processing fees, but also allow them to collect a wealth of consumer data.

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