A look into the future: Homeshopping & digital payments

Brussels, 12th April 2016 - ERA Europe supports the evolution and transition to new digital payment methods.

The Electronic Retailing Association Europe (ERA) has embraced the evolution of payments, endorsing and supporting all secure digital payments for transactions. Dr. Julian Oberndoerfer, CEO for ERA Europe says, “Quite frankly, anything is welcome that facilitates the transaction and is secure and risk free for the consumer. We must support the impulse purchase and avoid complicating the transaction, allowing for a seamless customer driven interaction. Multi-channel retail is leading the digital transition of payments”.

Driven by rapid advances in digital payment offerings and capabilities, the global payment system is undergoing a massive transformation.The innovation within the retail industry, in particular multi-channel retailing, where consumers switch between different channels such as internet, mobile and TV to complete a transaction is becoming the norm. Examples of the possibilities include retailer apps, Mobile point of sale, cloud based payments, micropayments, and crypto currency such as Bitcoin.

These digital ecosystems are driving consumers to connect even further with organizations and communities which they are already connected to in their daily lives (social media). These ecosystems that are relevant for payments are, consumer driven (social media), retailer driven (specific to a store or brand), and bank driven (merchants with online sales). The development of these types of digital payments and ecosystems provide a platform that is different and extremely complex. ERA Europe sees the need in the future for an organization that exists to provide endorsement and certification for digital and traditional payment methods for the multi-channel industry. Providing an audit sytem that consumers can not only trust, but also rely on. This is also the primary motive why ERA Europe will feature “Digital Payment Systems” at the mcms seminar during the Electronic Home Shopping Conference in Barcelona June 14th-16th.

ERA Europe supports the evolution to digital multi-channel ecosystems that allow consumers and merchants to interact. In this case, banks have a tremendous potential to interact with consumers because of an inherent advantage in their favour, consumers need a bank account and banks supply these. ERA supports all forms of secure digital payments as this is an opportunity to grow the booming multi-channel retail business, but it is also viewed as a transformational opportunity, that ERA must participate in to provide assurances that a particular system is without risk.

The Electronic Retailing Association Europe (ERA Europe) is the Association for the Multi-Channel Home Shopping Industry. ERA Europe is the voice and network for businesses that offer innovative products to consumers through audio visual presentation, the internet and other electronic media, according to a recognised code of ethics. ERA Europe advocates and supports the interests of our members and their customers in Europe and the Middle East. Currently ERA Europe represents the interests of 70 European and Middle Eastern members.

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