A conversation with Mike Russo, Shift4
Michael Russo, Chief Technology Officer at Shift4, has over 30 years of experience in the hospitality and healthcare technology space, building cutting-edge software products, leading agile teams, driving strategic business initiatives, and developing go-to-market strategies. Russo took the time to speak with VAR Insights about how to help merchants struggling to reopen, new payment methods, and what emerging technologies VARs need to be aware of.
Q: As merchants begin reopening is any single alternative payment method emerging more than others?
Russo: In general, both consumer and merchant preferences are shifting toward contactless payment methods given the current environment. With contactless payments, however, you’ll see industries using them in different ways. For example, retail and counter-service businesses have relied heavily on NFC payments while restaurants have used methods like QR codes, which can be printed on bills and receipts for the guests to scan and pay with their phones, never touching a payment device.
Q: Is there any advantage to a merchant by using one payment method over another?
Russo: It largely depends on the industry type. QR codes are especially useful in payment environments where an NFC device wouldn’t typically be present at the point of purchase, such as restaurants or bars. QR codes also can offer additional capabilities in the restaurant space such as mobile ordering to further reduce contact, improve efficiency, and increase convenience.