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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Security/Biometric Payments With the widespread popularity of digital payments continuing to grow, security remains at the forefront of concern for payment companies and their vendor partners. Both Visa and Mastercard rolled out pilot biometric payment cards in 2022.

Industry 471
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Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

PYMNTS

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. million merchants now accept chip cards, which is an increase of 692 percent since the beginning of EMV migration, and almost 70 percent of storefronts in the United States now accept chip cards.

Fraud 251
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Top News In Payments: TCH Increases RTP Threshold; Verizon Teams With Synchrony For Card

PYMNTS

In today’s top news, The Clearing House (TCH) is increasing the value limit for general transactions on the TCH-operated real-time payments (RTP) network, Verizon is working with financial firm Synchrony to put out its own consumer card and the United States is moving to get tough on the sale of counterfeit merchandise through eCommerce.

Cards 130
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Mastercard Bets On Biometric Cards To Advance Inclusion

PYMNTS

In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history. The Challenge of Building the Right Card for the Job. In the U.S.

Cards 187
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Deep Dive: How Automation And The Cloud Can Improve Operational Efficiency In Payments Processing

PYMNTS

It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 Most customers bypass dealing with merchants entirely when trying to stage chargeback fraud, with 76 percent of cardholders going directly to the payment card issuer. Cloud Payments Integration.

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PULSE: Why Debit And Payroll Cards Are An Employer’s Strategic Advantage

PYMNTS

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. The Security Angle. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

Cards 154
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Commercial Cards Take The Global B2B Payments Stage

PYMNTS

One way to cut the paper chase is for companies to embrace commercial card products, which can speed payments and aggregate information alongside those payments, while reducing errors and eliminating security risks typically associated with ACH transactions. avoids cross-border and FX fees , as payments are settled in GBP, euros, U.S.

Cards 146