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.
A research paper titled ‘Online Payment Fraud: Key Vertical Strategies and Management 2016-2020’ revealed that top service providers were in a position to cut levels of fraud to less than 0.1 per cent of transactional values in certain major e-commerce sectors.
TRANSACT 16, the premiere event for payments technology, starts tomorrow and we are excited to attend. Powered by ETA, TRANSACT 16 is known to bring together over 4,000 attendees including ISOs, VARs, ISVs, tech companies and startups that continue to drive innovation and cater to consumer demands at the POS.
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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.
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.
