Posted January 08, 2019 by FreedomPay

How FreedomPay is Enhancing Customer Experience with Integrated Payment Solutions

Keeping pace with the vagaries of complex payment environments is not an easy task. So, what can companies do to stay relevant in the face of an ever-expanding yet interconnected ecosystem of commerce?

Pennsylvania-based FreedomPay has come up with an effective solution to this. “In the realm of ecommerce, there is a unique and pressing need for platforms that are consumer-centric. As such, from the FreedomPay perspective, we begin with the consumer, taking into account the challenges that they face in adopting technology when it comes to the broad genre of payments and cards ecosystem,” begins Chris Kronenthal, President and CTO of FreedomPay.

Placing the consumer at the core of the experience

This is the very ethos that underpins and drives the company’s product development, allowing it to introduce a multitude of unique solutions that place the consumer at the core while ensuring that they can seamlessly adopt the ever-evolving payment technology. Further, to keep up with the trend of globalization that is rapidly taking over the payments landscape, FreedomPay offers a significant opportunity to leverage its platform globally, providing coverage not just for card-not present payments but a fully card-present/card-not-present alternative payment solution that is completely integrated and globally accessible. Kronenthal continues, “One of the things that we remain highly committed to is the concept of fully integrated payments, and that’s a driving principle behind all of our products and solutions.”

To this end, considering the different touchpoints—web, mobile, kiosk, ecommerce, card present—FreedomPay provides a toolkit to integrators to bolt on to its platform in as little as two weeks. “Our solution assists clients in multiple industries, including hospitality, gaming, retail and education, with everything around offers, loyalty, discounting while allowing them to track customer identity, profiling, and customer behavior,” he adds. Besides, the platform seamlessly integrates for EMV—both online and offline PIN and is PCI-, GDPR-, and EMV-compliant, taking the merchant out of scope. With the various integration touchpoints bolted to the FreedomPay platform, covering payments, identity, and a multitude of the compliance requirements that sit on enterprise data warehouse infrastructure, merchants can track their customer identity across any of those touchpoints. “We equip clients with a clean set of data to start diving into for segmentation, marketing, and retargeting for increasing their success ratio for the customer,” mentions Kronenthal.

Seamlessly integrating a single platform to create an exceptional payment experience

As a platform provider, FreedomPay acts as the glue that federates disparate solutions—stand beside devices, semi-integrated appliances, or host payment pages—on a single platform such that they seamlessly integrate to provide exceptional customer experience. In an instance, MGM—one of the world’s leading hospitality and gaming companies—was struggling to provide a unified, integrated experience to its customers, in the wake of an array of point of sales solutions, check-in kiosks, an ecommerce site, a mobile application, along with the gaming operation. FreedomPay stepped in and mitigated the challenge at hand by tying all of MGM’s different point of sales, be it card-present, card-not-present, retail, lodging, food service along with ecommerce onto a single platform. Further, MGM implemented FreedomPay’s PCI-validated point-to-point encryption (P2PE) solution to govern their overall PCI compliance while receiving the best interchange and Bank of America services portfolio. “The company currently also has one of the highest dynamic currency conversion adoption rates, and our unique integrated plug-and- play solution was deployed around different properties within five weeks,” underscores Kronenthal.

One of the prominent, distinct capabilities of FreedomPay lies in driving the same level of integration capabilities similar to those of emerging fintech players while also serving as a pureplay technology company that doesn’t necessitate merchants to disrupt their existing technological footprint. “We act as the bridge that links the entire existing infrastructure, enabling clients to innovate and accelerate product adoption. This gives us a tremendous competitive advantage in the US and the emerging markets of Europe and APAC where we are currently expanding,” concludes Kronenthal.

This article first appeared in Banking CIO Outlook.

Posted January 07, 2019 by FreedomPay

What Shoppers Want From Airport Retail

The way shoppers interact within the confines of an airport have shifted significantly over the years. At one time airports were limited to souvenir shops and convenience stores, but the renewed focus on airport retail and varied concessions means there are more options for people to spend their time and money while they wait for their flights.

The holiday season undoubtedly means an increase in air travel. To gain a better understanding of airport spending habits during the holidays, FreedomPay commissioned a survey of 2,500 air travelers in the UK.

The survey uncovered a variety of airport shopping trends during the busy travel season:

Travelers spend one-third of their total airport time on shopping:

On average, survey respondents claim to spend 98 minutes at the airport before boarding their flight, with 29 of those minutes dedicated to duty free and/or retail shopping. Those who live in Scotland and London tend to spend the least amount of time at the airport prior to their flights, at 85 and 90 minutes respectively. Interestingly, travelers aged 18 to 34 years old spend the least amount of the time at the airport and the most amount of time in duty free shops, while travelers over 55 years old spend the most amount of time at the airport prior to their flight and the least amount of time in duty free shops.

The average spend at airports is around £60 ($76)

It’s not surprising that travelers aged 18-34 who spend the most amount of time in duty free shops are accountable for the highest spending levels, around £94 ($120). Regionally, people who live in Scotland tend to spend most at airports than any other region, around £82 ($104). Though men and women spend in different areas, men on average spend 20 percent more than women.
Food and beverage top airport sales overall, but young people spend more on retail goods While at the airport, visitors tend to spend the most on restaurants and beverages, followed by books and magazines, beauty and fragrance, and confectionary. Spend on gifts, luxury items, fashion and accessories spikes among those under 34 years old. In general, men are more likely to spend on alcohol, while women are more likely to prioritize confectionary.

Multiple ways to pay makes spending easier for travelers

The top methods of payments by travelers are debit cards at 87 percent, cash at 84 percent and credit cards at 60 percent. It was uncovered that airport customers find discounts and ease of payment most important in their shopping experience, followed by cash. It is important to note that one in four travelers under the age of 24 years old list e-payments in their top three forms of payment.

Airport restaurants and retailers that make it easy for customers to pay quickly and easily with multiple payment options will clearly fare better than those who don’t. The FreedomPay Commerce Platform ensures payments are processed faster, simpler and safer, ensuring travelers spend more shopping and less time waiting in line. Merchants using FreedomPay’s PCI validated, Point to Point Encryption (P2PE) Commerce Platform have a better understanding of travelers shopping habits and preferences, and as a result, can provide loyalty promotions and rewards targeted to their customer’s preferences.

About Us
FreedomPay operates in more than 100 airports in North America including all major hubs such as JFK, Houston and Philadelphia. If you are interested in learning more about FreedomPay’s capabilities, contact our team at sales@freedompay.com.