NCR said on Tuesday that it's buying StopLift Checkout Vision Systems, makers of computer vision systems for retail point of sale. NCR, a predominate maker of point-of-sale terminals, plans to integrate StopLift's AI capabilities into its POS portfolio. "This acquisition will help NCR accelerate growth in our market-leading self-checkout and store transformation solutions," said NCR chief executive Michael Hayford. "In addition to creating new value for our retail customers around the world, StopLift's fraud detection technology will be a key enabler of our frictionless commerce product strategy." Theft at the self-checkout is an ongoing issue for retailers, and there are a bevy of systems out there that work to prevent retail shrinkage.
Electronic payment solutions company Verifone on Tuesday reported disappointing earnings for the second quarter of fiscal 2016. The company announced it will be cutting its headcount by 5 percent and making other changes to adjust to an increasingly competitive payments market. The company reported non-GAAP net income per share of 47 cents on net revenues of 532 million, which was below market expectations of 52 cents a share. The company has an operating cash flow of 51 million. "Q2 was a mixed quarter for Verifone as we grew our business, but experienced several difficult market dynamics," Verifone CEO Paul Galant said in a statement.
Retailers, hotels and restaurants have all been victimized through the same Achilles' heel that cybercriminals continue to attack: the point-of-sale system, where customers' payment data is routinely processed. These digital cash registers are often the target of malware designed to steal credit card numbers in the thousands or even millions. This year, fast food vendor Wendy's, clothing retailer Eddie Bauer and Kimpton Hotels have all reported data breaches stemming from such attacks. Security experts, however, are encouraging a variety of approaches to keep businesses secure from point-of-sale-related intrusions. Point-of-sale malware can strike in a number ways.
If you know the company Square, it's probably because you've paid in a store using a Square "stand," a dock that supports a tablet, or you've swiped your card through Square Reader, a smartphone dongle that processes payments. These products have a simplistic, decidedly Apple-y aesthetic, from the simple dongle to the all-white stand that typically houses an iPad. But since late last year, Square has been quietly selling its own tablet, the Square Register, a $999, Android-based custom system. And the company has taken an obsessive approach to designing the product. The tablet caught my eye during a recent visit to the company, where it's set up to accept payments in an employee cafe.
Square on Thursday unveiled Terminal, its new touchscreen alternative to legacy, keypad credit card machines. Terminal is described as an all-in-one card processing device, meaning that it accept physical debit and credit cards as well as mobile payments through Apple Pay, Google Pay, Samsung Pay, and NFC. The wireless device is said to have all-day battery life, can process payments over Wi-Fi or Ethernet internet connections and is also able to print receipts. With this form factor, Square is pitching the device as a useful option for sellers that take payments on the go. "[Terminal] is the best solution for businesses that use their own point-of-sale solution or manually key in a payment amount, and want to process payments with Square," the company noted in a blog post.