Forte CEO Jeff Thorness talks omni-channel and retail with PYMNTS.com.

As part of PYMNTS.com’s latest series, Retail Reinvention Week, Forte CEO Jeff Thorness participated in a webinar with PYMNTS’ Doug Wilber and Souheil Badran, General Manager of Digital River.

The two discussed omni-channel and its status as a “buzzword” in payments. MPD Managing Director John Caron had stated that it was “dead,” but both Thorness and Badran saw it as quite alive and kicking. However, all three had to agree that the term wasn’t exactly living up to its expectations.

But it’s asking a lot for omni-channel to simply jump out of the box and take over. After all, it takes preparation and development. Thorness sees it as a piece of the entire customer experience: something that, if neglected, can damage overall consumer satisfaction.

Since omni-channel is just starting to take hold in the payment industry, the more important step for merchants at this point is to develop strong back-office support, according to Thorness. It should be “organized so well, it’s invisible.”

Concerns about security are something both Thorness and Badran see as a catalyst for innovation. Tokenization, for example, has emerged as a solution that manages these concerns from a standpoint of innovation. As omni-channel solutions continue to develop, more security innovations will need to emerge to handle expanding technologies.

Read the full article here.

Photo credit: Carli Jean

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