Being a part of a payments and security company, my colleagues and I have the opportunity to speak with merchants on a regular basis, during which we hear a lot of questions. Some are confused about which payment solution is the best fit for their business needs, while others are looking to understand how they can do more with their terminals. One of the biggest concerns they have is payment security.
When you’re participating in a hackathon, 24 hours is very little time to define a problem, come up with a solution, and translate it into a well-designed prototype. This is why preparation dramatically increases the odds of winning a hackathon. So use your time wisely!
As October 1st marks the one-year anniversary of the EMV liability shift in the U.S., EMV migration continues to pick up steam, and more merchants and cardholders are getting used to chip cards. However, it has been a significant change in behavior for both of them.
The Internet of Things (IoT) has been a topic of discussion for the past few years, and the nature of its applications has evolved over time. According to a report by Gartner, the Internet of Things will grow to 26 billion units installed by 2020. This report also highlights that the IoT product and service suppliers will generate revenue exceeding $300 billion by the same year. But where does payments come into the picture?
After U.S. payment networks implemented a liability shift in October 2015, merchants that did not support EMV became liable for chargebacks from credit card fraud. Many merchants have evaluated their risk based on chargeback history, and some were surprised by their post-shift fraud volume. This gave rise in the industry to various rumors, misinformation and theories about the cause of this change in fraud volume.
