With the steady rollout of EMV and NFC at in-store POS terminals, the launch of retailer apps that allow mobile checkout (e.g., IKEA), and the development of alternative networks, the retail POS payments landscape is forever changed. Macy’s and Walmart are just a few of the big names offering consumer the opportunity to purchase online…
A new study reveals use of mobile phones to make in-store payments nearly quadrupled from 5% in 2014 to 18% today. Currently about 1 in 5 consumers using their phone to make a payment in-store.
Online fraud increased 360% in France post EMV and the U.S. will likely realize the same in 2016. However, mobile is the future of retail.
Toronto-based GoldMoney and BitGold reported another strong month in November adding nearly 90,000 new users.
After an 11% drop in expected holiday spending from $1,014 in 2013 to $900 in 2014, consumers plan to spend 3% more in 2015.
A new website linking retailers to a comprehensive offering of retail payment technology services, including IT security, merchant services, Ecommerce, cloud-based IT services, POS systems, payment gateway, PCI compliance and network management has been launched.
Holiday retail sales are expected to grow by 3.6% driven by growing consumer optimism about personal finances, Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year.
CardFlash News Briefs: HYPERWALLET (loyalty); CARDINALCOMMERCE (patent); MYPINPAD (study); and PARKMOBILE (Pittsburgh).
Fraud average ticket value (ATV), or a retailer’s average size of individual sales by credit card, has decreased by $9.00 over the past year from $282 to $273, however the frequency of fraud has increased and it is also driven by lower shipping costs.
Chase Pay has hooked up with 18 tech companies to accelerate merchant acceptance. Chase Pay uses QR Codes.
On average, it takes between seven to 10 seconds to pay using a chip card versus two to three seconds to pay using a traditional swipe credit card in the U.S. At some Walmarts unless you have a PIN for the chip card it will not prompt for you for SIG credit.
More than 90 million attempted cyber attacks across industries were launched in the third quarter, representing a 20% increase over the previous quarter. Fraudsters are now using bots and botnets to run massive identity testing sessions in order to penetrate fraud defenses.