When we conduct our Glenbrook Payments Boot Camp, our first graphic illustrates the three essential steps in every transaction – initiation, funding, and completion. When looked at through the lens of of the past decade most innovation has been in initiation. Consider: Apple Pay, Google Pay, Venmo, QR codes. The list is long of ways to kick off a transaction.
Restaurant payments is a complex area especially for those companies serving the mid-sized and large restaurant operator. They have different needs that extend well beyond payment acceptance but even that is a highly variable concern.
For those of you who didn’t make it to Money20/20 and want to hear the latest on The Clearing House’s Real-Time Payments Network (RTP), take a listen to this update conversation with Steve Ledford, SVP at The Clearing House for the RTP Network.
The payment industry’s responses to ongoing payment security concerns are many. We have procedural approaches and technical ones. For example, we are requiring merchants to attest to their compliance with PCI security standards that themselves include procedural requirements.
In the U.S., there’s the automatic assumption that payment cards and perhaps PayPal are the way to pay online. But if you’re an eCommerce merchant trying to sell in the Netherlands, you’d better support the domestic system known as iDeal.
Knowing who you’re dealing with online is critical if you’re taking transaction risk. Digital identity is tough. To address that challenge – and it is a challenge – relying parties, those who take on risk, employ two broad categories of technology: active tools that require user interaction and passive network-based approaches.
Alexa. Siri. Cortana. We’re talking to or at our machines. I walk into my office and say “Hey Google, what’s the weather?” or “Hey Google, when’s my first appointment?” When I’m driving in a strange town, it’s “hey Google, navigate to the [fill in the blank] hotel.”
During the Glenbrook Payments Boot Camp we make clear that national payments systems are domestic by definition. Each country has its own set of systems to effect payments. We point out that national payment systems differ in many of their details. Regulation, operating rules, governance, ownership, technology, and more are highly variable.
In this second discussion with First Data execs, George and Scott MacKay, Vice President, Strategic Solutions talk digital commerce in the automative space, both at the fuel pump and in the Connected Car.
In this, the first of a two-part podcast series with First Data executives, Ajay Guru, VP of Merchant Fraud Solutions at First Data and George discuss the impact of fraud on the merchant, what the merchant has to do to manage it, and the classes of tools and techniques available to mitigate fraud.
