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.
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.
Ingenico Group Industry Insights from EMV expert, Allen Friedman
How will Apple Pay impact EMV in the US?
Apple Pay is a participant in EMV in the US, but they may not have a huge impact. They will have an impact on the adoption of contactless at the point of sale, and we’re already seeing that. We’ll see merchants who have NFC capable terminals that are not turned on will want to get them turned on for NFC. It definitely has given a boost to the potential of NFC at the point of sale.
Ingenico Group Industry Insights from EMV expert, Allen Friedman
Will independent software vendors (ISVs) be ready for EMV?
The ISV’s, in a lot of cases, are not ready because they are not a unified group. You can reach a lot of merchants at the National Retail Federation, you can reach a lot of acquirers at various acquirer events, but independent integrated systems vendors are just that, they are independent. So it’s hard to reach all of them, as they have various different sizes of organizations.
