Revel and the Future of Money Conference
Revel was recently invited to speak on a panel about the Point of Sale industry at the Future of Money & Technology Conference.
The conference included a range of expert speakers who touched on everything from credit card processing, bitcoin and virtual currencies, to mobile payments and new banking models.
Marius Domokos, Revel’s VP of Corporate Development, represented Revel Systems on the panel accompanied by speakers from Capital One, CardFlight, and Groupon.
4 main trends emerged during the session:
POS systems have evolved from a product to a platform. In addition to having the core functionality of PCI compliance and performance reporting, Revel’s POS solution is leading the industry with a unique, end-to-end platform coupled with multiple open APIs that allow for customization. This permits seamless replacement of the old legacy models that have not changed much in the last 20 years and provides a mechanism for fast integration with emerging complementary technologies.
Payment methods are evolving. Mobile payments are taking off, but not necessarily replacing credit cards. “It’s more of a complement than a replacement,” said Marius Domokos. “Based on feedback from our customers, the industry and the end consumers, we are seeing that technology is enabling more payment options, but adoption is somewhat fragmented and varies from country to country. It’s not up to us to choose a winner in the payment space, but to offer the right tools to our SMB and enterprise customers so they can deliver the best consumer experience. As payment technologies and business models evolve, we will continue to offer the best POS ecosystem that maximizes value for our customers and for their end consumers.”
The importance of data and analytics: Revel’s unique technology platform and business model are making available to smaller merchants for the first time enterprise-level functionality and features. Smaller business owners can now utilize sales data and inventory management tools to increase the performance of their business with a small learning curve. Revel’s analytics tools help turn business data into insights and allow merchants to leverage CRM tools to optimize reoccurring business.
Mobility. We live in a mobile culture. Revel believes that a POS should not only support businesses reliably and securely, but should also give merchants the freedom to manage their businesses within their lifestyles – on the go. Revel’s POS technologies allow business owners to receive email alerts when inventory is low, check sales numbers from the comfort of their home, and otherwise check on a full range of operational metrics for their businesses at any time and from anywhere.
Thank you to the Future of Money Conference for inviting Revel to speak on this topic. We had a great time meeting the thought leaders in the financial space and talking about the challenges and opportunities ahead.