How a Payments Orchestration Partner is the Next-Gen Switch Provider
Merchant needs are continually evolving, in a constant crunch to keep up with both customer demands and an ever-increasing number of payment options.…
Category: Blog
OLS Payments Executive Spotlight: Andy Orrock
If you’ve ever had a conversation with Andy Orrock, you most likely walked away having learned something new and fascinating.
For more than 30 years, Andy Orrock has created and been chief operator of innovative enterprise-class payment systems for Fortune 500 retailers. As vice president, software engineering, Andy oversees the strategic direction, development and operation of the payments solutions that OLS Payments provides. He’s been chief architect of several OLS Payments services, holding a patent for a bridge service designed to maximize uptime for retailers.
Improving the Holiday Returns Process With Transaction-Based Payments Tokenization
According to the National Retail Federation (NRF), consumers returned an estimated $428 billion in merchandise to retailers in 2020, approximately 10.6% of total U.S. retail sales in 2020. Following the 2021 holiday season, UPS says it is on track to process more than 60 million return packages between Nov. 14 and Jan. 22 – a 10% over last year. In addition, one in four Americans is expected to make a return.
Looking Ahead: 2022 Predictions for the Payments Industry
It’s hard to believe that another year has already passed. At OLS Payments, we have seen rapid changes and growth in 2021. Businesses looked to prioritize and overcome payments security challenges. We also saw merchants meet consumers’ growing demands for fast and contactless methods as a result of the pandemic.
Your 2021 “Turkey Five” Payments Prep Recipe
Americans across the country will soon be feasting on turkey, green bean casserole, cranberry sauce and mashed potatoes. In preparation, families bring out their favorite recipes to share with loved ones and get all the ingredients they need for a successful Thanksgiving. And retailers need to do the same.
Thanksgiving kicks off the five biggest shopping days of the year – the Turkey Five. Ahead of the big event, retailers must have their payments processes in place to handle numerous transactions and ensure that security breaches don’t “wreak havoc in the kitchen.”
Don’t Get Spooked By Payments Security
Halloween is just around the corner, which means that costumes, haunted houses, and scary movies will soon be making appearances. But you know what’s even scarier than Halloween? Security breaches that put your business and customers at risk.
Top Three Payments Considerations for Grocers
Fueled by the pandemic, the entire grocery industry is evolving rapidly to offer shoppers faster, easier and safer ways to buy groceries. According to McKinsey, “Powerful trends, including new competitive pressures, technological advances, and evolving consumer attitudes and behaviors, will disrupt the grocery business from coast to coast in the next few years.”
Grocers adapt to changing consumers’ needs by evaluating payments processes and technology to ensure they’re driving a frictionless experience. Whether grocers realize it or not, payments play an essential role in all parts of the shopper’s journey. As they keep up with the rapid evolution, grocers should consider three ways to enhance their payments system.
Flexa Partnership Enables Seamless Digital Currency Acceptance
According to a study from PYMNTS, crypto ownership has been on the rise, up 63% year over year. The study also found that more than half of current or former crypto owners made at least one purchase with digital currency last year. Meanwhile, 59% of consumers who have never owned crypto are interested in making a purchase with it in the future.
Top Payments Industry Trends of 2021, So Far
The payments landscape has shifted dramatically this past year. These changes were especially quickened by the pandemic as both merchants and consumers continued…
Why Leading Merchants Choose OLS Payments: Enhanced Security, Cost Savings and Flexibility
For more than 20 years, we’ve worked hard to solve our customers’ challenges and helped them stay at the forefront of emerging payments technology. We understand merchants’ biggest payments challenges and look for solutions that add value to their businesses.
Recently, we shared a blog about how OLS Payments helps businesses add functionality and connectivity to their payments capabilities. Today, we’ll take a look at three other reasons why leading merchants choose OLS Payments as their payments orchestration solution – enhanced security, cost savings and flexibility. These are all key factors that are crucial to the success of a company and can make or break the bottom line.