ARLINGTON, Va. — An initiative to examine the loss prevention risks associated with emerging point of sale technology will be conducted by the Retail Industry Leaders Association (RILA) here, in partnership with the University of Arkansas, Sam M. Walton College of Business, and with support from Checkpoint Systems and Ernst & Young.
The initiative will study emerging point-of-sale technology, including self-checkout, mobile coupons, touchless payment, mobile POS and mobile self-checkout, evaluate the loss-prevention risks posed by each and identify possible preventive strategies. The project is the brainchild of RILA’s Asset Protection Leaders Council (APLC), a forum for top-level retail asset-protection executives.
“Retailers need to understand this emerging technology and its implications for loss prevention now so that they can proactively address any challenges that lie ahead rather than just reacting to them after emerging POS technologies become the norm,” said Lisa LaBruno, RILA’s vice president of loss prevention and legal affairs, in a statement.
The speed at which mobile technology is affecting and reshaping retail is dramatic,” added Dan Valerio, Ernst & Young's Americas Retail Sector Leader. “The importance of understanding the risks such advancements have on a retailer's business cannot be underestimated.”