Since the October 2015 liability shift I have been talking with retailers about their EMV Strategy.
Processing fees are an annoying fact of life for merchants. Complex structures and various fee types are designed to be complicated, boring, and inaccessible for merchants.
Payment processing- an industry surrounded by mystery, regulation, and misconception.
Credit and debit card processing fees are some of the most convoluted and complex aspects of owning a business.
New payment technologies have made significant strides in improving both the payment solution and overall in-store experience for shoppers. Merchants are now tasked with understanding the benefits and drawbacks of such payment innovations and are wading through the waters to find the perfect payment fit.
Gone are the days of simple swipe terminals in the U.S., where a payment could be captured using a “dumb” USB device or keyboard reader.
The payment space has been an exciting one this year and 2016 promises not to disappoint. One thing we can expect to see in 2016 is a rise in popularity of mobile payments.
2015 was a busy year for the payments industry: EMV, liability shift, mobile payments, PCI, encryption and the list goes on from there. As I worked with the team here at iQmetrix to prepare for the October liability shift, retailers were all over the board in their plans to deploy EMV. Some were clueless, others scared, and still others only slightly educated.