With the October deadline for the EMV liability shift approaching quickly, merchants are still looking to better understand what the liability shift actually means for them. ‘Who is at risk?” ”What are the consequences?” “What are the different fraud scenarios and which ones apply to my business?” are the types of questions that come up on a regular basis.
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Among many conversations in the payments industry right now, payment security is one of the biggest ones around. With credit card fraud and data breaches on the rise in the U.S., merchants need to make sure their payment solutions are secure.
NFC and contactless payment options offer a faster and more convenient method to pay for goods and services. In the U.S., NFC/contactless payment such as Apple Pay has been gaining a lot of traction. Other than its popularity with consumers, the technology has also seen significant adoption from retailers both big and small. These retailers are looking to enhance their customer’s experience by providing them an option to pay using Apple Pay on their iPhones.
Payments, being a dynamic industry, is constantly evolving and executives need to be aware of key technologies in the market. Here, I’ve summarized five key payment technologies that hospitality tech executives need to know about:
Ingenico Group Industry Insights from EMV expert, Allen Friedman
Are Merchants Ready and Willing to Accept Apple Pay Transactions?
Right now, in the Tier 1 space where the largest merchants with the capital and resources can chose to turn on NFC, there are some who have decided to turn off NFC, even if they’ve had it before. Often they are working on a private solution among those large retailers. I don’t know if that will end up being a conflict.
