It's time to look ahead to what 2016 will bring to the payments industry. Technology constantly evolves in response to new innovations and consumer behaviors, and POS technology is no exception.
The deadline for transitioning to EMV has come and gone. And with that, new opportunities and challenges abound. Here are a few predictions for EMV in 2016.
If there is a single, defining issue for the 2015 holiday shopping season, it’s whether retailers were able to provide a more cohesive shopping experience regardless of channels. Here are the major trends reshaping retail that resellers should pay close attention to, and which will be on the minds of your customer base in the weeks and months ahead.
Today, electronic payments represent a significant percentage of transactions for even the smallest retail and restaurant operations. The U.S payment industry is undergoing one of the biggest changes in the past 40 years: EMV, a set of global standards for electronic payments, including specifications for point of sale hardware, software, and systems, as well as the payment cards themselves.
As mobile payments go mainstream, ISVs have a unique opportunity to capitalize — provided they can assure the security of the mobile payments infrastructure. Understanding the use cases for mobile payments before building the secure mechanics that drive them is the key to cashing in on mobile payments mayhem.
Here are three approaches to payment processing service sales and the advantages of aligning strategically with a payment processing services provider.
Amid revolution in payment security, merchants are wringing their hands and losing sleep over the safekeeping and functionality of their point of sale (POS) environments. VARs are poised to gain merchants’ trust — and their business — by positioning themselves as security experts.
If you think credit and debit cards are about to displace cash for retail transactions, think again. Legal tender remains the most commonly used form of payment, accounting for about 40 percent of U.S. transactions overall, up to two-thirds of purchases under $10, and half of transactions valued at less than $50. “Cash accounts for about 85 percent of global consumer transactions,” according to MasterCard. “In most countries the cashless journey has only just begun.” So while plastic and electronic payments have been hailed as the currency of the future, there is a long way to go.
A change occurred earlier this year affecting every business that processes payment card transactions. But as often happens with major changes, a lot of your customers won’t know how to adjust to this change unless you help them.
From a reseller’s perspective to implement technology in the field — no matter how good your product is — a poor customer experience can ruin a sale.