THE IMPACT ON STAKEHOLDERS OF IP ENABLEMENT AT THE POINT-OF-SALE (POS)
MAY 26, 2005 — 11:00am EST (1 hour)
Nick Holland, Director, Emerging Technologies Service
The Point of Sale (POS) terminal has developed with a single purpose in mind: the transferal of transaction information electronically. This single use has been dictated to a certain extent by the capabilities of the network to handle information. With dial-up, a 15-30 second authorization cycle has been acceptable, just. But IP POS, with 2-3 second transaction speeds and the bandwidth for multiple applications to be accessed simultaneously, the POS terminal is unshackled and given the freedom to become a device that truly enhances the consumer experience.
This presentation will guide the audience through the fusion of physical and virtual environments made possible by IP POS. We?ll compare IP vs. dial-up transactions; highlighting the key advantages provided by transitioning to Internet connectivity and discuss the differing value propositions for stakeholders. We will also explore the downside of IP; what are the issues that might impede the development of IP at the POS? Finally we will consider the future of IP at the POS: where IP is taking us and how we can get there, including growth projections for IP POS to 2007 by market segment.
The capabilities of this networking technology applied to existing POS environments are yet to be fully realized and there are many stakeholders competing for market share. It will be an exciting time as the consumer payments industry landscape adjusts to the tectonic shift that is well underway…