Rambus CircleRetail

Realize a seamless omnichannel shopping experience backed by convenience and security

In today’s digital world, consumers expect the convenience and favorable prices of online shopping to be available offline and part of their physical shopping experience. At the same time, whether in-store or online, customers need to trust that their transactions are in safe hands. Rambus has over 15 years of experience in payments and is now applying this technology to assist retailers in improving the buying experience, reducing costs, increasing revenue and keeping customer data safer.

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What is Card-on-file EMV Payment Tokenization

The way we pay is changing. Consumers are now using their PC, smartphones, wearable devices and even cars to buy goods and services. The size and value of the card-not-present (CNP) market, therefore, is increasing exponentially as payment use-cases across e-commerce, m-commerce and the Internet of Things (IoT) emerge and mature. Although payment methods utilizing card-on-file offer convenience, they also create challenges. EMV payment tokenization can significantly enhance the security of card-on-file payment methods, while increasing convenience and simplifying the user experience.

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A seamless shopping experience with an all-in-one retail mobile wallet

The amount of paper and plastic that consumers have to deal with during their shopping journey can often be frustrating and confusing. Rambus digitizes and unifies retail loyalty cards, payment cards, gift cards, coupons and receipts within a single intuitive white-label mobile wallet that can be fully customized to match the retailer’s brand. Rambus can also interface with existing retail apps and expand these with wallet functionality.

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Scan and Go – in-aisle payments to optimize the customer experience

According to a study by CapGemini (2017), one of the top frustrations that consumers face in retail stores is the long queues at checkout counters. With the Rambus secure mobile wallet, consumers scan barcodes of items they intend to purchase with their own smartphone and directly pay in-aisle, in-app without having to queue at check out. A security portal for employees ensures that the right number of items are scanned. In addition to payments, the Rambus solution can also automatically apply discounts and add new loyalty points while storing the digitized receipt inside the app. This not only improves efficiencies but also greatly enhances the customer experience.

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Real-time loyalty redemption – the next level of value added services

Many loyalty programs are ineffective because it takes too long to redeem offers. By having loyalty points and payment cards connected to one account, consumers can mix and pay between points and cards during their checkout – redeeming their loyalty points in real-time rather than having to wait until the next visit.

By having an interactive loyalty card on a smartphone, retail customers can be much more engaged with cross-sell and/or up-sell opportunities that are much more personalized and relevant and hence stimulate increased spending.

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Scan and Go: How Mobile Wallets are Transforming Retail

Brick-and-mortar merchants are in the midst of a period of unprecedented disruption. Long-term structural trends mean that retailers must address decreasing revenues and escalating costs, while evolving the in-store experience to meet the demands of the connected consumer. To be successful, however, retailers must focus innovation efforts on solutions that can immediately increase revenues, enhance the buying experience and deliver operational efficiencies. For this reason, transformative technologies such as mobile scan-and-go solutions are coming to the fore, with deployments across the world gaining momentum.

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Lower transaction fees

Some payment methods incur higher transaction fees. With the Rambus retail platform, retailers can incentivize their customers (for example, by applying extra loyalty points) to use payment methods that incur the lowest transaction fees. This can include private label, closed-loop cards or by directly linking to a consumer’s ACH/direct debit bank account.

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Bank-grade security – tokenize loyalty, gift and payment cards

Rambus is renowned for its EMV tokenization solutions, delivering secure mobile payments solutions to the largest banks around the world. Using this technology, the Rambus platform secures vulnerable e-commerce or in-store data related to customer by replacing this with EMV tokens. In the event of a breach, this data is then of no value to hackers and fraudsters and makes a digital wallet or online transaction more secure than transacting with physical cards.

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Omni channel payments – enable frictionless commerce

Whether your customers are shopping online, in your store or are ordering through an Internet of Things device, Rambus allows your customers to engage in frictionless commerce by storing one centralized set of credentials to pay, save points and apply discounts – regardless of the channel used.