We recently had the opportunity to interview our partners and Ingenico experts regarding their payment predictions for 2016. We covered many topics ranging from EMV, NFC, payment security, Omni-channel, unattended solutions and more. This is the first of a three-part video blog series.
The use of credit cards in the US is rising and new payment options such as Apple Pay, Android Pay, etc. are gaining popularity. In the midst of this payment evolution, industries using unattended kiosks or vending machines that don’t take all card types or forms of payment can be at a disadvantage. According to a recent study, cashless payments when compared to cash payments, contributed directly to positive sales development in the vending industry.
It’s been five months since the US EMV liability shift deadline of October 1, 2015 passed. Even though the EMV migration has been slow in the US, many big box retailers, such as Best Buy, The Home Depot, Walmart etc. have upgraded their payment technology to accept EMV chip cards – a new credit card security standard in the US. But many small businesses are yet to migrate.
The EMV liability shift date, October 1, 2015, has come and gone, but many retailers have still not made this critical update. Most are left wondering: Is it too late? The good news is that it’s not too late for your business to upgrade. However, if credit card fraud takes place at your establishment before you take action, you will be held responsible for the financial repercussions.
Even before the new year rolled in, there had been a lot of theories and speculations around how payment technology would evolve in 2016. To find out more information, we hosted a webinar - 2016 Payment Predictions & Strategies to Jumpstart the New Year - and spoke with two industry experts - Rod Hometh, SVP of Strategic Development for North America / Ingenico Group and Jordan McKee, Senior Analyst at 451 Research. Following are some highlights from the webinar.
