Payment Options

What Retailers Need to Know About Gift Cards
December 23, 2015 at 12:04 pm

It’s called the season of giving. According to the numbers, it might more accurately be called the season of giving gift cards. It’s been almost two decades since the emergence of the pre-loaded plastic presents, and while sales peaked in the mid-2000s, CEB TowerGroup research shows that gift card sales still grew to $124 billion…

3 Sales Tools to Increase Seasonal Margins
December 22, 2015 at 10:53 am

To say the retail industry is competitive is, well, an understatement. Therefore, retailers are finding it more and more difficult to provide value, particularly during the busy holiday season. Margins are obviously important, so how can retailers increase them during the hectic holiday hustle? Whether you’re selling consumer electronics, furniture or home appliances, here are…

Target in Initial Development of Own Mobile Wallet
December 21, 2015 at 11:13 am

Target is in the early stages of developing its own mobile wallet, three people familiar with the matter said, joining Wal-Mart Stores Inc. in posing a threat to recent entrants like Apple Pay. The fourth-largest U.S. retailer hasn't committed to launch the product, which would allow customers to pay for goods using an app on…

Payment Issues Retailers Should Be Focused on This Holiday Season
November 19, 2015 at 10:47 am

This year, the holiday season is coming on the heels of two major payments-related events: the EMV liability shift and the Samsung Pay launch. Understanding these events and their ramifications for merchants, customers and financial institutions is crucial for retailers’ success this holiday season. EMV As of October 2015, the United States has shifted fraud…

Chip Credit Cards Give Retailers Another Grievance Against Banks
November 17, 2015 at 10:22 am

The employee perched on a stepstool by the checkout at Trader Joe’s in Union Square in Manhattan is like an air traffic controller: Register 6 for one customer. Register 9 for the next. The routine helps move traffic quickly through the store, where the lines can often snake around the aisles of whole grain cereal,…

Wal-Mart Exec: ‘Anarchy’ Coming in Holiday Transition to Chip Credit Cards
October 29, 2015 at 10:47 am

Count Wal-Mart payments executive John Drechny among those upset with the timing of the credit card industry’s transition to “chip” credit cards. In a panel discussion at the Money20/20 payments conference in Las Vegas on Monday, Drechny said the October deadline for merchants to switch over to equipment that can accept new chip cards will cause…

MasterCard Tries Out 'Selfie Pay' for Online Purchases
October 21, 2015 at 10:22 am

For the selfie generation, it might be the perfect way to pay. MasterCard is trying out a new technology that lets online shoppers authorize a transaction with a snapshot of their face instead of a password. “As the world gets increasingly digital, this will be the next wave of technology that will change the consumer experience of…

Western Union Brings Bill Pay to Walgreens
October 1, 2015 at 11:04 am

Customers will now be able to do much more than just pick up prescriptions at Walgreens locations nationwide. Western Union announced the launch of its bill payment services at the nation’s largest drugstore chain yesterday, allowing customers to make payments to 15,000 billers across the U.S. and abroad.  

EMV: Ready or NOT October is Here
October 1, 2015 at 10:01 am

The past year has brought a multitude of changes in payments, including PCI 3.0 requirements, EMV chip payment cards and the introduction of new mobile payment methods from CurrentC, Google and Samsung. The result is a fragmented capability across retail that's impacting consumers who want simple, flexible and convenient shopping with seamless payment methods. Retailers…

Online Merchants Impacted by EMV Payment Changes
September 30, 2015 at 11:21 am

Oct. 1 represents the deadline for most merchants to accept Europay, MasterCard and Visa (EMV) chip-equipped credit cards at their terminals. Should a merchant only process payments with the familiar magnetic stripe reader, and end up taking a counterfeit card, liability for that transaction falls upon the merchant. At first glance e-commerce pros may see this…