Listen to George and Jacques Soussana, General Secretary, of nexo Standards, an organization based in Europe with global goals to establish interoperability of hardware, software, and data across the point of sale and e-commerce domains.
In this Payments on Fire® episode, Faster Payments Council Executive Director Kim Ford discusses the Council's work, the U.S. Faster Payments Barometer survey, and where we are today with Glenbrook's Beth Horowitz Steel and Elizabeth McQuerry. Take a listen and take the survey. You'll contribute to the Council's education, planning, and prioritization work.
For a nanosecond, about seven years ago, I thought the payments industry was entering a steady state where change, while sure to be accelerated by technology, was going to settle down to the familiar sedate pace the payments industry had taken for decades.
One of the privileges of using a card to make a payment is the ability to dispute that charge should something go wrong. Maybe you ordered one garden rake but got charged for two. Perhaps you ordered a sweater and, as my colleague Allen Weinberg puts it, "got shipped a box of rocks." Or you discover a charge that you didn't make on your card account and believe it's fraudulent.
The global spread of digital payments gets a huge boost from giants like Google. Google's Google Pay is far more than just a wallet, and the subject of this Payments on Fire® episode with Steve Klebe.
Here on Payments on Fire® we've spoken a lot with risk and fraud management firms that generally offer some combination of services and technologies that promises to lower customer exposure to payments fraud, data theft, and operational risk.
The task of risk management in the payments business keeps getting bigger. Where once the concern was confined to payments alone - starting with counterfeit checks and currency - payment electronification has created a universe of potential risks. Risk now includes fraudulent cards, system and network hacks, data breaches, and account takeover with all the havoc that can produce.
One of the biggest payments challenges for merchants is how to handle payment data - whether it's at the POS or in the remote domain where eCommerce and mobile payments take place. A lot of this concern is driven directly by PCI DSS compliance and broadly by the reputational risk data breach represents.
Digital identity is one of the most solution-resistant challenges to online commerce and, indeed, our online lives. It is basic to online trust, an elusive condition undermined by data breaches, abuse of our data by service providers, and fraudsters.
Ever wonder about EMVCo's role in the development and implementation of its technical specifications? Take a listen to Bastien Latge, EMVCo's director of technology and Glenbrook's George Peabody as they discuss EMVCo's EMV®* QR Code Specification for QR code-based transaction initiation in the card system. While developed card markets are shifting to contactless cards and NFC-using mobile phone wallets to kick off payments, the QR code offers a flexible, very low cost alternative. There's a lot to learn here.
