Tracker Series

When Old Meets New In Payments

The Developer TrackerTM, powered by Vantiv, is designed to provide the payments ecosystem a view into how software developers are using new technologies to create new business opportunities and help merchants reimagine the relationships they have with their customers.

In this Tracker, the developer community is separated into three categories: Shopping and Payments, Operations, and Marketing. We have profiled 60 developers and add more each month.

Bridging The Digital Rental Payment Gap

If there’s one thing we’ve heard time and time again across the payments landscape, it’s that cash and paper checks are on their way out. But in the rental payment market, paper-based payment methods still hold strong. But rather than focusing exclusively on digital at the exclusion of paper-based payments, rental payment processor PayLease is ensuring property managers can accept any way their renters want to pay.

For paper checks, property managers are enabled to electronically and instantaneously accept payment via check scanners, while renters without access to a bank account or plastic cards can still pay their rent with cash at retail locations nationwide. With an integration directly into the accounting and management software used to run properties, PayLease aims to streamline the rental payment process for both residents and property managers.

December Highlights

Universal payment cards, those card-like devices that store the payment data from multiple cards, are designed to solve the “fat wallet” problem by substituting one card for many. Today, these devices come ready with the latest payment capabilities like NFC for contactless payments and/or chip-and-PIN integration, but the creators of these cards are introducing even more features to keep consumers engaged. One of those strategies is to turn to loyalty and rewards.

But universal payment cards weren’t the only place loyalty and rewards made an impact in developer news this month. With the help of an API, merchants across eCommerce and mobile sites are now enabling gift card buy buttons to establish a way for consumers to quickly sell, buy and transfer gift cards in a single environment.

As more consumers move their shopping online, developers are looking to keep eCommerce as convenient as possible. With the introduction of eCommerce shopping extensions for Web browsers, consumers can shop across numerous online shops and create a universal shopping cart directly in their browser window. A new Google Chrome extension allows users to scan any eCommerce site to find products that are eligible to be purchased immediately directly through a retailer.

To download the December Developer Tracker, click here.

For more updates from Vantiv, click here.


Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.