When a cardholder sends a chargeback dispute to their bank, they are requesting that the cost of a transaction on their credit statement to be refunded to them. This is because they believe the transaction is invalid.
A recent study from A.T. Kearney urges FIs en masse to begin issuing contactless cards now that merchants have the necessary payment terminals and consumers are more aware of the “tap,” thanks to NFC-enabled mobile payments.
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New foodservice technologies — including self-order kiosks, mobile ordering and EMV-enabled payment systems — are being introduced at a rapid pace. Operators with existing POS investments need to be able to integrate new capabilities into their existing systems.
Retailers must be aware of what's changing in payments to better serve their customers. That was the overarching message to retailers from a group of executives on a panel at the recent Oracle Industry Connect in New York City.
Mobile payments continue to expand, making it important for operators of unattended retail equipment to invest in the technology. A speaker at the National Automatic Merchandising Association show in Las Vegas urged his fellow industry executives to get on board with the trend.
The future state of self-service is turning the kiosk into a stand-alone store, and secure payment is one of the services that needs to be offered for it to be effective, says Ingenico's John Menzel, who recently shared his insights on EMV compliance in self-service.
A monumental shift is happening in the U.S. as the payments industry upgrades to chip cards that are prevalent worldwide. Merchants are a key driver of this change as they upgrade POS terminals to accept chip cards.