Archives / 2014 / May
  • Is chip technology the peak of security?

    MasterCard and Visa have deadlines of October 2015 for businesses to adopt EMV technology at their cash registers. At that point a liability shift will occur that puts more ownership of a credit card breach on the business if it has not upgraded its systems.

    However, according to an article from the Associated Press, the companies may be trying to speed up the shift and they have some help.

    Richard Hunt, the CEO of the Consumer Bankers Association, brought the banker's perspective to the argument and said that in the case of major fraud, banks are only able to collect pennies on the dollar if a retailer is involved. This is even the case when the card is updated if the retailer in question has not done the same to its processes.

    "We have to improve fraud prevention … more

  • PCI compliance important on any payment platform

    Online shopping requires businesses to focus on PCI compliance.

    In the business landscape, few trends have had as big an impact as the rise of the internet. Aside from the ability to connect with customers, the internet also opens up a new sales platform for merchants. However, it can create a number of challenges that companies may not be aware of.

    A recent article from Business News Daily examined several of these areas, all of which revolve around security measures. The piece points out that even though the customer may not be standing in the same room, businesses must keep customer data secure as per PCI Data Security Standards.

    This means companies need to focus on both simple things like checking billing and shipping addresses, as well as ensuring that they understand PCI compliance requirements and meet them. If … more

  • New retail data sharing process created

    A new data sharing process will help payment process security.

    The ripple effects from the Target security breach have been large and far reaching. Aside from the impact within the company -- executives let go, payment process/credit card overhaul -- the industry as a whole is changing. This has opened the eyes of many business owners to the importance of secure payment processes.

    According to a recent article from the Los Angeles Times, several retail superpowers will be partnering with the Retail Industry Leaders Association, the Homeland Security Department, the Secret Service and the Federal Bureau of Investigation to create a new organization. The goal is to improve data sharing throughout the industry when it comes to security breaches.

    Through the new process, companies can anonymously share tips with the new government body. A small … more

  • Mobile wallets remain a rocky road

    Mobile commerce remains a rocky road.

    While many payment experts believe the mobile wallet will be part of the future, the takeoff for the system remains grounded. There are again rumors that Apple will be incorporating NFC technology into the new version of the iPhone and create an iWallet solution that will be unveiled at the upcoming Worldwide Developers convention. However, this has persisted for several years and nothing has come of it.

    While there are some versions of mobile wallets available, it remains a rocky landscape.

    In a recent blog post from LifeLock, the company announced that it was pulling its "Lemon Wallet" application from all app stores. According to company chairman and CEO Todd Davis, this is being done because the app may not be fully compliant with payment card industry (PCI) security standards. … more

  • Burger King, Wendy's join growing mobile payment processing revolution

    Companies like Burger King and Wendy's are adopting mobile payment processing systems.

    Mobile payment processing is no longer the trend of the future: it's very much a part of the present.

    More and more, companies are coming to the realization that they need to integrate mobile payment processing into their workflows. Corporations as venerable as Burger King and Wendy's -- not necessarily the institutions one might think of as tech savvy -- are making the move to better serve a customer base increasingly used to having a wide variety of payment options.

    In an interview with USA Today, Chris Versace explained the changing landscape causing these companies to make these decisions. Versace, who is a contributor to RealMoney Pro, pointed out that while in the past, the major options were cash, check, debit and credit cards, now, more consumers are whipping out their … more

  • How mobile technology is impacting the payment business

    Mobile devices are impacting the payment industry.

    The latest technology is rapidly changing how many industries operate. While many people focus on how it will affect the office environment, all areas of business are being revolutionized by new solutions like mobile devices.

    An article from Forbes examined several ways that mobile technology is impacting the current business landscape. These include improving bring-your-own-device security, constantly being connected, cloud-based apps and mobile marketing.

    There will also be a growing impact when it comes to point of sale solutions. Not only will this happen through the use of the mobile wallet, but also tablet POS systems.

    "Brick-and-mortar stores are realizing the benefits of arming floor staff with tablets," the article reads. "Workers can use this technology to … more

  • Many companies to fall short of EMV October 2015 deadline

    Since news of the Target point of sale breach broke late last year, the need for improved payment security has been front and center with industry professionals. One of the biggest topics of conversation has been speeding up the adoption of EMV chip-and-PIN technology before the October 2015 deadline.

    A recent article from Bloomberg Businessweek examined this area more closely and found that many companies are still slow to incorporate this technology. The piece features comments from Merchant Warehouse, a credit and debit card transaction processor which handles this for 80,000 U.S. merchants. It is reporting that 40 percent of its partners will not be ready for the deadline. Crone Consulting, a payments advisory firm, is reporting that more than half of all U.S. merchants will miss the … more

  • How tablets are improving the sales process

    Tablets are becoming a must have tool for sales professionals.

    If you were asked to name all of the tools in the belt of successful sales person, there are several technologies that would be a part of this conversation. While items like VoIP phone systems and cloud-based sales reporting software have been in use for some time, it can be argued that the tablet is the hottest tool in the arsenal.

    A recent white paper from Showpad dove deep into the reasons why organizations can improve their sales team through the use of tablets. First off, the report covers a number of benefits to putting a tablet into the hands of associates. These include:

    Updated support material that can be access and shared with the entire team in real-time.

    Sales conversations flow naturally, as tablets encourage engagement.

    Additional resources can be accessed including … more

  • Tableside tablet POS systems help engage Buffalo Wild Wings customers

    Buffalo Wild Wings is adding tablets to every tablet to better engage customers.

    If you are are sports fan, you've probably been to, or at least heard of, Buffalo Wild Wings. The bar and restaurant chain has over 1,000 locations and markets itself as the best place to watch any game. It may soon become one of the best places to pay for your food and beverage order.

    According to a recent article from Hospitality Technology, the company is looking for a new way to engage customers and plans on using a tablet POS solution to do it. Being piloted in 150 locations with a full rollout scheduled for the end of 2015, the company is adding a tablet to every table. With the device, customers are exposed to special deals, can play games, are able to place food and drink orders and pay for everything without requiring help from the wait staff. … more

  • Target invests in EMV card overhaul

    With the October 2015 deadline for EMV adoption by U.S. business and credit card providers getting closer, it seems as if no movement has really been made. While it has been a major topic of conversation, which hit a fever pitch during the investigation into the Target Breach, there has yet to be a major splash.

    That changed this week when Target announced a $100 million investment plan to improve its payment processes. According to an article from CNN Money, it's headlined by upgraded REDcards -- the retailer's credit card -- that will now feature the chip-and-PIN technology. The merchant will also replace the payment terminals in all 1,797 U.S. stores.

    "Target and MasterCard are taking an important step forward in providing consumers with a secure shopping experience," MasterCard … more

  • Denver experiments with waiving credit fees, sees boost in card payments

    Denver experimented with waiving credit card fees and saw plastic payments increase.

    There are many things that go into the swipe fees that credit card agencies and banks charge, that trickle down to the merchants and consumers. One that doesn't get enough press is the role that states and cities can play in setting caps or eliminating them altogether.

    An article from The Denver Post recapped an experiment recently conducted by the city of Denver. Over the first two months of 2014, swipe fees were waived for most plastic payments that were made for city charges. Previously, there was a standard 2.5 percent convenience fee on credit and debit cards for property and excise taxes, court fees (which have an in-percent $3 flat fee) and traffic fines.

    During this time frame, the use of credit and debit card payments increased tenfold or more when compared to … more

by Ty Hardison

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