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I usually let book titles stand on their own, but I had to include the subtitle “Resolving the Heart of Conflict” along with The Anatomy of Peace or you might have just scrolled right past this article. I mean you’re an executive/software developer, not an army general, so what does “peace” have to do with you, right? But resolving conflict involving employees, customers, and vendors – well, that’s something you encounter most every day.

 

If you are the mess, you can clean it. Improvement doesn't depend on others.

 

The Anatomy of Peace doesn’t outline communication tactics for resolving conflicts as you might expect. Instead, the book digs below the surface and addresses our attitudes and misconceptions which cause disharmony in the first place, hence the “Heart of Conflict” subtitle. If you’re still thinking this book isn’t for you because your company culture is hunky dory because nobody yells or throws staplers, this passage from the book might change your mind: “Most wars between individuals are of the ‘cold’ rather than the ‘hot’ variety – lingering resentment, for example, grudges long-held, resources clutched to rather than shared, help not offered. These are the acts of war that most threaten our homes and workplaces.”

 

heart of peace vs heart of war

 

Here are 26 excerpts from The Anatomy of Peace that I hope bring harmony to you and everyone you engage with:

 

  1. Parties in conflict all wait on the same solution: they wait for the other party to change. Should we be surprised, then, when conflicts linger and problems remain?
  2. When they spoke, it was a kind of a verbal wrestling match, each of them trying to anticipate the other’s moves, searching for weaknesses they could exploit to force the other into submission. With no actual mat into which to press the other’s flesh, these verbal matches always ended in a draw: each of them claimed hollow victory while living with ongoing defeat.
  3. In the way we regard our children, our spouses, neighbors, colleagues, and strangers, we choose to see others either as people like ourselves or as objects.
  4. Lumping everyone of a particular race or culture or faith into a single stereotype is a way of failing to see them as people.
  5. Heart at Peace – Others are People: Hopes, needs, cares, and fears as real to me as my own.
  6. Heart at War – Others are Objects: Obstacles, vehicles, irrelevancies.
  7. Seeing an equal person as an inferior object is an act of violence. It hurts as much as a punch to the face.
  8. No conflict can be solved so long as all parties are convinced they are right. Solution is possible only when at least one party begins to consider how he might be wrong.
  9. If we are going to find lasting solutions to difficult conflicts we first need to find our way out of the internal wars that are poisoning our thoughts, feelings, and attitudes toward others. If we can't put an end to the violence within us, there is no hope for putting an end to the violence without.
  10. As painful as it is to receive contempt from another, it is more debilitating by far to be filled with contempt for another.
  11. When I see others as objects, I dwell on the injustices I have suffered in order to justify myself, keeping my mistreatments and suffering alive within me.
  12. If I think I am superior, I can excuse a lot of sins.
  13. I may not be responsible for the things he's done. But I am responsible for what I've done.
  14. Whenever I dehumanize another, I necessarily dehumanize all that is human – including myself.
  15. The question for you as the leader is whether you are going to create an environment that is as enjoyable for your people as it is for you – a place that they are as excited about and devoted to as you are.
  16. If you are the mess, you can clean it. Improvement doesn't depend on others.
  17. Five questions that will help you to ponder your situation anew:
    1. What are this person's or people’s challenges, trials, burdens, and pains?
    2. How am I, or some group of which I am a part, adding to these challenges, trials, burdens, and pains?
    3. In what other ways have I or my group neglected or mistreated this person or group?
    4. In what ways are my better-than, I-deserved, worse-than, and need-to-be-seen-as boxes obscuring the truth about others and myself and interfering with potential solutions?
    5. What am I feeling I should do for this person or group? What can I do to help?
  18. When we have recovered those sensibilities towards others, we must then act on them. We need to honor the senses we have rather than betray them.
  19. What would be a problem is to insist that others need to change while being unwilling to consider how we ourselves might need to change too.
  20. Correction alone rarely gets others to change.
  21. Correction is by nature provocational.
  22. When our correction isn't working, we normally bear down harder and correct more.
  23. Teach and communicate: It is no good trying to teach if I myself am not listening and learning.
  24. Learning keeps reminding us that we might be mistaken in our views and opinions.
  25. Peace is invited only when an intelligent outward strategy is married to a peaceful inward one. If we don't get our hearts right, our strategies won't much matter.
  26. May you have the honesty and courage to do what our homes, our workplaces, and our communities most need: to see all as people — even, and perhaps especially, when others are giving you a reason not to.

  

For more On the Edgecontent, please visit the Worldpay Partner Advantagewebsite.

 

Jim Roddy is a Reseller & ISV Business Advisor for Worldpay’s PaymentsEdge Advisory Services. He has been active in the POS channel since 1998, including 11 years as the President of Business Solutions Magazine, six years as a Retail Solutions Providers Association (RSPA) board member, and one term as RSPA Chairman of the Board. Jim is regularly requested to speak at industry conferences and he is author of Hire Like You Just Beat Cancerand On The Edge with Jim Roddy.

when you are at a party - and no one wants to talk payments meme
 
In your mind what would be the outcome if a crowd of 500 payment geeks spread out in a large banquet room in Vegas for 36 hours? Do we truly understand the problems we are being asked to solve? Do we have visions of grandeur and want to pitch something revolutionary to get some coin? Or are we really anxious to see the actual APIs that the sponsors will be revealing that can be tied into our product for the ultimate win?
 
For the past five years; developers, designers, and entrepreneurs flock to Vegas late October to mingle with their peers and accept a themed challenge relating to payments and FinTech. This is Money2020 Hackathon.
 
Some are serial hackers that make the circuit, eager to win so they can pay for a future tank of gas to get them to a future hackathon. Some are students looking to test their skills and get real-world experience and rub elbows with key industry players. While others just want to get away and spend a nice sobering weekend freaking out and stressing over what the hell to do to make payments rad. Can you guess which category our team fit?
 
I won’t bore you with what Money2020 is, you can look it up. I won’t drone on about what a hackathon is either, you can figure that out too. What I will talk to you about is what we learned and in turn ask you to give feedback on innovation and FinTech in the comments below.
 
The Story 
It was a warm Colorado afternoon in early October when a group came together over a working lunch to put aside the day-to-day talk of payment-processing, back-office application sprint planning, and the usual dev chatter around all things relating to individual technical work as a payment geek and engineer. It was time to secure our war-room, erase the spaghetti and database diagrams from the whiteboard, and get a jump start on collectively ideating for the annual pilgrimage to the Money2020 hackathon.
 
"For good ideas and true innovation, you need human interaction, conflict, argument, debate."   - Margaret Heffernan
 
Have you ever tried to loosen a machine bolt and find that you just can’t get enough leverage to break free? This is generally the way our annual ideation meetings begin. At home I have penetrating oil that I can spray the bolt head with, wait a few minutes and generally it will loosen up. After 5 years, we still don’t know what our favorite penetrating oil is, but after a couple of lunch-time meetings we somehow manage to get that rusted bolt loose and can start ideating.
 
Our team is very intelligent and capable of implementing and designing just about anything, and now that we had our idea we needed to determine our technology stack. Do we go-for-broke and attempt to learn something new or do we stick to our wheelhouse and forgo any language-centric or environmental gotchas. Knowing that there would still be gotchas. There are always gotchas. 
 
So after some debate, the team decided to stick with what we knew best and start building out a test environment. The goal was to make sure when we access those infamous APIs come game day, we could easily hook into them and get the information we needed back to help drive our solution. 
 
“There’s a way to do it better—find it.”   - Thomas Edison
 
Our idea was still evolving, but the basic foundation was in place, and we knew what we were going to build it in. The next step? Well given that we all have families and lives outside of work; plus the fact that we only had a handful of working lunches to ideate and test environments the next step was - to board the plane of course. 
 
After landing in Vegas we headed over to the meet and greet, had a few appetizers, Goose Island IPAs, and chatted with the four sponsors. Our idea still held up when pitching to peers and sponsors alike at the party, so we headed to our rooms to prep a little bit and get a good nights sleep before coding was to begin around 11am the next morning. 
 
"Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen.”   - John Steinbeck
 
After very little sleep due to a wild party in the hotel room next door, the team met in the banquet hall the following morning and secured our table and checked in with the sponsors. Once the clock started we began our coding and we certainly ran into challenges and had to pivot some along the way. Many hours into the code we found that one of the original ideas that we glossed over in one of our "rusted-bolt" war-room meeting the week before came to surface and we decided to pivot and work on that idea alongside our original plan. 
 
Confident then that we could pitch to (2) sponsors, doubling our chances of failure. 
 
“I want to put a ding in the universe.”   - Steve Jobs
 
I love innovation and I love working with people I don’t get to everyday in order to learn and grow not just professionally but as a human as well. Each year there are new faces that go with us to the hackathon and it is such a great experience. My advice is to get out of your comfort zone on occasion, it really can do wonders. 
 
Code Or It Didn't Happen
 
So you notice I didn’t talk at all about our idea or what we pitched. I first wanted to give you inside access to the repo and see the code for yourself. We will do a followup article if there is interest, but until then let us know what you think and ask questions below in the comments or tell us perhaps about a payment or hackathon experience you have had in the past. Also, should Worldpay do a hackathon for you guys as payment developers? Could be virtual or would you like to all met in Denver and code to some of our Worldpay APIs? We would like to know your thoughts.

 
“99 percent of success is built on failure.”   - Charles Kettering
 
We didn’t get to pitch our idea on the main stage or win any foam-core board checks that would not have fit in the overhead bin anyways. What we did come away with some great new ideas and will be spending some working lunches over the next few months bringing them to life and hope to share with you sometimes soon.


Next week, Money20/20 is putting on the best Fintech hackathon in the world, and Worldpay is sending 5 of our own to compete. The challenge: to design solutions for a simpler, fairer, and more inclusive financial system for businesses and society as a whole. 

 

The team will be competing for $100k in cash prizes as well as for fame and glory.

 

Meet our team: 

 

The Worldpay ONE Money20/20 Hackathon team

 

(From left to right) 

 

Arjun Balaji, Worldpay Senior Software Engineer, and Francophile

 

Specialty: Clean coding enthusiast

 

What are you looking forward to at the Hackathon? 

I'm looking forward to the exciting discussions and all the crazy ideas that come out of it.  

 

What is your favorite thing in the world right now? 

I'm trying to learn French, so most things French. 

 

Andrew Harris, Worldpay Senior Product Marketing Manager and flaky pastry fanatic

 

Specialty: the developer experience

 

What are you looking forward to at the Hackathon? 

This is THE hackathon for finTech and payments - My fifth year participating at some capacity and I really get stoked watching the finalist on stage present their ideas at the end of the event with little to no sleep. The passion and technical talent wafts though the air and energizes me, making me realize payments is far for boring. I guess that is what I look forward to the most from this event, oh and I can’t wait to get a pastry for Paris Baguette in The Venetian. 

 

What is your favorite thing in the world right now? 

My favorite tech thing in the world right now are chatbots. I know, most consider them wack but I think bots will turn the virtual corner and be in the face of all of us before we know it. I remember a time when people didn’t like Amazon either. Bots can come in many forms and as a designer, no-UI has always intrigued me.

 

Alec Paulson, Worldpay Senior Software Engineer and Ghost Protocol team member

 

Specialty: Full Stack Man

 

What are you looking forward to at the Hackathon? 

Getting some sleep since I ain't gonna be there #ghostprotocol

 

What is your favorite thing in the world right now? 

My favorite thing right now is find amazing ideas in emerging areas of tech like AI, machine learning and blockchain. 

 

Scott Sievers, Worldpay Database Administrator and team player

 

Specialty: Purveyor of Data

 

What are you looking forward to at the Hackathon? 

I look forward to ideating through new product/app ideas with teammates and seeing what we can come up with.

 

What is your favorite thing in the world right now? 

Spending time with family and cycling. 

 

Jeremy Buikema, Worldpay Software Engineer and miniature donkey rider

 

Specialty: Writing simple and clean code

 

What are you looking forward to at the Hackathon? 

I'm looking forward to learning/creating something new and hanging out with the crew.

 

What is your favorite thing in the world right now? 

My favorite thing right now is hanging out at home with all 7 of my animals (2 cats, 2 dogs, a bunny, a horse, and a miniature donkey). We just got a new cat and he has fallen in love with our bunny. Watching them play is terrifying and one of the cutest things I've ever seen.

 

Will you be at Money20/20? Let us know in the comments!

Congrats to the winners of the Developer Survey drawing!

 

We randomly selected 3 winners from our Developer Survey participants. These lucky, lucky winners will receive a sweet $100 Amazon gift card!  

 

Congrats to:

ajohnstone

frank

jodi@vinbalance.com

 

Haven't entered the survey yet? There's still a chance to win $500. Increase your odds by taking all 3 surveys: 

 

Stay tuned to this space for the survey results! 

Naysayers never built a great enterprise.

 

A conversation I had with the owner of a Worldpay ISV partner three months ago went something like this:

  • ISV: “There’s this great salesperson I’ve known for years – he’s the kind of guy who could open lots of doors for us. I’ve been trying to convince him to join our team for six or seven weeks now, but he’s still not sure.”
  • Me: “Wouldn’t you prefer to have someone who might have less relevant experience but really wants to work for you? Wouldn’t you prefer to have someone who’s excited about the job and your company? If you’re begging someone to join you, you’re probably going to have to beg them to stay.”
  • ISV: “I hadn’t thought of it that way. I’ll have to think about that.”

 

I reconnected with that same ISV executive just a few weeks ago, and our chat went something like this:

  • ISV: “I hired a salesperson. I’ve known her for a while and she always spoke highly of our company, but I hadn’t considered her because her experience wasn’t in our industry. But when I mentioned the job, she jumped at the opportunity. She said, ‘I would love to sell software. I would love to work with you guys.’ What was supposed to be a dinner turned into a four-hour conversation about strategy and growing my business.”

 

Because passion can’t be found on a resume, many hiring managers don’t go looking for it. But if you hire someone without a passion for your company, your values, your culture, your product, your industry, etc. you’re likely going to be disappointed in their performance and will be looking for their replacement soon.

 

Instead of me haranguing you more about passion, let’s hear from former Starbucks CEO Howard Schultz in excerpts from his book Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time:

 

(Note: These 36 excerpts have been whittled down from the original list of 120 quotes I highlighted in the book when I first read it in 2010. In other words, the summary below is a Tall, not a Venti.)

 

  1. Care more than others think wise. Dream more than others think practical. Expect more than others think possible.
  2. If people relate to the company they work for, if they form an emotional tie to it and buy into its dreams, they will pour their heart into making it better.
  3. My story is as much one of perseverance and drive as it is of talent and luck. I willed it to happen. I took my life in my hands, learned from anyone I could, grabbed what opportunity I could, and molded my success step by step.
  4. I’d encourage everyone to dream big, lay your foundations well, absorb information like a sponge, and not be afraid to defy conventional wisdom.
  5. Every company must stand for something. Starbucks stood not only for good coffee, but specifically for the dark-roasted flavor profile that the founders were passionate about. That’s what differentiated it and made it authentic.
  6. You don’t just give the customers what they ask for. If you offer them something they’re not accustomed to, something so far superior that it takes a while to develop their palates, you can create a sense of discovery and excitement and loyalty that will bond them to you.
  7. As boss, if you close your ears to new ideas, you may end up closing off great opportunities for your company.
  8. Naysayers never built a great enterprise.
  9. If you stop being the scrappy underdog, fighting against the odds, you risk the worst fate of all: mediocrity.
  10. Even the world’s best business plan won’t produce any return if it is not backed with passion and integrity.
  11. Whether you are the CEO or a lower level employee, the single most important thing you do at work each day is communicate your values to others.
  12. If you share your mission with like-minded souls, it will have a far greater impact.
  13. If I sense that a person lacks integrity or principles, I cut off any dealings with him.
  14. A business plan is only a piece of paper, and even the greatest business plan of all will prove worthless unless the people of a company buy into it. It cannot be sustainable, or even implemented properly, unless the people are committed to it with the same heartfelt urgency as their leader.
  15. Who wants a dream that’s near-fetched?
  16. People are not a line item.
  17. When companies fail, or fail to grow, it’s almost always because they don’t invest in the people, the systems, and the processes they need.
  18. What I tried to do was honor the individuals around me, let them paint colors and make mistakes without telling them they were wrong.
  19. Whenever I’m hiring a key executive, I look for integrity and passion. To me, that’s just as important as experience and abilities.
  20. Wall Street cannot place a value on values.
  21. The same pace and passion that made us great also at times burned people out.
  22. Sometimes what’s hardest – for me and strong-minded leaders like me – is restraining myself, allowing other people’s ideas to germinate and blossom before passing judgment.
  23. Many entrepreneurs fall into a trap: They are so captivated by their own vision that when an employee comes up with an idea, especially one that doesn’t seem to fit the original vision, they are tempted to quash it.
  24. It’s demoralizing, I know from experience, to get fired up about a great new idea only to have it dismissed by higher-ups.
  25. When things are going well, why change a winning formula? The simple answer is this: Because the world is changing.
  26. At Starbucks, we discovered along the way that sustainability is directly linked to self-renewal. Even when life seems perfect, you have to take risks and jump to the next level, or you’ll start spiraling downhill into complacency without even realizing it.
  27. Any product-oriented company has to keep reinventing its core product if it expects to prosper, let alone survive.
  28. We believed the best way to meet and exceed the expectations of customers was to hire and train great people.
  29. So much of the retailing experience in America is mediocre.
  30. When you meet with an experience at a higher level, where you are treated positively, where someone goes out of her way to make you feel special, where you’re welcomed with a smile and assumed to be intelligent, the experience stands out.
  31. Authentic brands do not emerge from marketing cubicles or advertising agencies. They emanate from everything the company does.
  32. I left the top marketing position empty for 18 months while we searched for the right person.
  33. We set out to win, no doubt about that, but our goal is to win with integrity.
  34. Even more than their stock options, baristas told us they cared about the emotional benefits they got from their jobs.
  35. The more heartfelt our commitment, the more these setbacks will hurt, but the more we’ll be capable of devising solutions that reflect our values.
  36. In the ethical vacuum of this era, people long to be inspired.

 

For more On the Edge content, please visit the Worldpay Partner Advantage website.

 

Jim Roddy is a Reseller & ISV Business Advisor for Worldpay’s PaymentsEdge Advisory Services. He has been active in the POS channel since 1998, including 11 years as the President of Business Solutions Magazine, six years as a Retail Solutions Providers Association (RSPA) board member, and one term as RSPA Chairman of the Board. Jim is regularly requested to speak at industry conferences and he is author of Hire Like You Just Beat Cancer and On The Edge with Jim Roddy.

gjsissons

Interchange for Dummies

Posted by gjsissons Oct 3, 2018

A Primer on Card Processing Fees

 

For developers who have worked mostly with gateways, coding to a payment processor can be a different experience. The interfaces can feel a little more complicated, but it turns out that understanding arcane topics like interchange fees, assessments and discount rates vs. interchange plus is worth the effort - especially as payment volume scales. If you’re wondering why this is, read on - you’ve come to the right post!

 

Interchange

 

interchange

 

In payments, interchange refers to the fees that are paid by the merchant’s bank (or the acquirer in industry lingo) to the cardholder’s issuing bank. These fees are set by the card brands and compensate the issuer for going to the trouble of qualifying consumers, issuing cards, handling transactions and taking on the risk involved in offering a line of credit.

 

The money moves from the acquiring bank (the bank handling the front-end of the transaction) to the issuing bank (the bank issuing the card), but fees are ultimately passed on to the merchant.

 

The card brands usually update interchange rates twice per year, and at the time of this writing, the links to latest fee structures for VISA and MasterCard are provided below:

 

 

A casual look at these schedules will confirm what you probably suspect – the policies are complex, and every transaction is potentially different subject.  Rates charged by the card brands depend on a variety of factors:

 

  • Card present vs card not present
  • Type of card, and nature of associated reward programs
  • Merchant performance thresholds – minimum volume, chargeback ratios and the like
  • Industry, type of business, purchase location
  • Various fee programs (Commercial Level III, Commercial CNP, GSA Large Ticket)

 

Swiping your basic VISA card at a large, well-known supermarket (at the time of this writing) costs 1.15% plus 5 cents per transaction.  Swiping your VISA Infinite card at a restaurant results in interchange fees of 2.4% + 10 cents per transaction (more than double). Interchange rates can dramatically affect a merchant’s costs.

 

Assessments

 

In addition to the interchange fees described above, card networks charge an assessment fee for each transaction.  The point of an assessment fee is to provide a source of funding for the card networks to maintain their infrastructure.  A quick Google of “VISA Assessment Fee” shows an assessment rate is 0.13% for credit and debit cards. Assessment fees can change with time, vary by jurisdiction and be different for different card brands. Assessments are paid by the payment processor/acquiring bank, and like interchange fees, these costs are passed onto the merchant.

 

Payment Processing Fees

 

As you’ve probably realized, interchange fees and assessments don’t benefit the payment processor.  They only benefit card companies and card issuing banks.  Typically, payment processors contract with the merchant for additional  processing fees. Usually these fees are per-transaction and may vary by transaction type.  The processor may also include additional fees for value-added services you elect to use, such as account updating or enhanced security offerings that can benefit merchants in other ways, such as reducing chargebacks, or minimizing declined authorizations.

 

Discount Rates vs Interchange Plus

 

Most of us are conditioned to appreciate a good discount, but in payments the story is more complicated. Processors determine discount rates by examining a number of factors, including MCC, average ticket price, and risk factors among others. From this info, processors negotiate with you a discount rate that accounts for the mix of interchange, assessments, and other fees, along with their profit margin. For example, imagine an internet gateway charging a discount rate of 2.9% + $0.30 per transaction  On a hypothetical $100 card purchase, this would cost the merchant $3.20 as shown below:

 

gateway_pricing_model.PNG

Now imagine the same transaction subject to an interchange plus fee structure.  In interchange plus, the processor passes through interchange, assessments, and other network fees without change. The processor then adds a per transaction fee, as well as any fees for value added services you elect to use. In this second scenario, the actual costs of interchange fees will vary with every transaction, but a typical transaction might look like the following:

 

processor_pricing_model.PNG

This is not to say that one pricing model is better than the other, or that an interchange plus fee structure will always be less expensive, but the approaches are different.  Payment providers who offer a discount rate, are providing merchants with simplicity and predictability, but arguably at the price of transparency.  Interchange fees and assessments still apply behind the scenes, and the payment provider is taking a risk because they could potentially lose money on some transactions. When offering a discount rate, the payment provider earns their margin on the difference between the discount rate offered to the merchant and the actual underlying fees they pay to facilitate the payment including interchange, assessments and processing fees.

 

While discount rates are simple, they are not transparent to the merchant. The merchant understands their total cost, but they don’t have visibility to how much of the cost is due to interchange, assessments or earnings retained by their gateway providers or processors.

 

To gain transparency, larger merchants often prefer interchange plus pricing schemes.  While they can be more complex to understand, they do allow merchants to analyze their payment transactions and understand the cost components of each transaction in detail.  With visibility to all sources of cost, merchants can take steps to avoid excessive fees including understanding what types of transactions are the most or least costly and taking steps (including coding applications differently) to reduce costs where possible.

 

Processing fees matter

 

To state the obvious, processing fees matter. For a small business transacting $5M annually, a 50-basis point reduction in average fees can yield $25K to the bottom line – enough to hire a part time employee or lease a couple of vehicles.  For a national retailer, analyzing and understanding fees is even more consequential.

 

Because the amounts are so substantial, larger merchants will often negotiate for lower discount rates, or prefer interchange plus pricing where they have visibility to their fees.  With visibility to fees, merchants can take steps to address sources of cost including coding transactions differently.

 

How does this impact the developer?

 

the way you code payment transactions can affect your business's bottom line.

 

Basically, how you code payment transactions matters because decisions you make can affect Interchange rates for a particular transaction.  Following card brand rules is essential to not only minimizing fees, but reducing instances of fraud and chargebacks as well. As examples:

 

  • For card not present transactions always perform an AVS (Address Verification System) check. Simply performing an AVS check can result in better interchange and also acts to deter fraud.
  • Providing detailed metadata in payment transactions (like industry types, terminal types, electronic indicator codes and commercial card IDs) can also help merchants obtain more favorable interchange rates. If this information is not provided, card brands will err on the side of caution, defaulting to higher rates.
  • For B2B applications, collecting and passing data fields required for Level II or Level III transactions can help reduce interchange rates further.

 

For developers, to minimize merchant costs, it is important that their payment SDK or API provide the ability to accept and pass on as much of this supplementary metadata as possible. Worldpay’s triPOS and Express APIs for card present transactions are good examples, as both allow for extensive metadata collection including things like freight, duty, taxes, ship-from and destination zip codes, and a variety of other items that affect interchange fees.

 

To learn more about Worldpay APIs for point of sale developers including the triPOS and Express platforms described above, visit our Point of Sale Integrations resource page.

 

For similar resources for card not present and mobile payment integrations, check out our developer eCommerce resources.

 

Thanks to Tom Boumil and Dan Ourada for their valuable contributions this this article.

Last year, 85%-90% of all business assets were digital. The average security breach costs U.S. businesses an average of $7.35 million, making information security a top strategic priority for modern businesses. Plus data breaches can end up costing much more in the long-term from reputational damage and brand erosion.  

 

Point-to-Point Encryption (P2PE) is a security development that allows businesses to remove clear text data from their network. A P2PE solution consists of a combination of validated hardware, software, applications and processes to encrypt cardholder data. P2PE ensures that confidential card payment data is encrypted at the point the payment is taken, removing the clear text data from the retailer’s network. That data is only decrypted once it’s passed to the solution provider’s secure environment.

 

P2PE uses a key management process in which every transaction is created using a unique key. This means that each transaction would have to be individually broken to gain access to sensitive data. The processing power and time to hack individual transactions to gain substantial amounts of cardholder data is incredibly difficult.

A P2PE listed solution provides businesses with access to the latest technology to protect customers’ data.

 

Make sure you can spot the difference between P2PE hype and truth with our handy infographic:

 

Dispelling the myths about P2PE

We're currently conducting the WorldPay's Developer Insights Survey - a survey to explore the landscape of developers coding for payments and commerceHere are some highlights we've collected so far: 

 

  1. Almost 75% of respondents identify as full-stack or back-end developers:
  2. About 1/3 develop computer software and nearly 1/4 are coding for into financial services:
  3. Most of the developers surveyed started coding as kids, between the ages of 10-17.
  4. Payments developers love Python (C++ is in the 2nd place).
  5. Developers choose  cats and narwhals over  dogs and unicorns
  6. 61% of payments developers use Agile development methodology
  7. Developers prefer to work in an office. Only 5% of responders work from home.
  8. When asked how long they've been coding, most professional payments developers selected "a long, long time, young padawan." 
  9.  Only 21% of survey respondents were under 30.

Thanks for reading!

If you can spare 5–10 minutes, go take the survey yourself:

Considerations when choosing a gateway integration

There are a lot of payment gateways out there, and choosing the right payment solution can be overwhelming. Especially when you consider that there is no single right answer for every business. Different developers do not need the same features, so for comparison, here's a developer's checklist of considerations  for any payment gateway integration.

 

cost per payment transaction matters

 

Developer Checklist for payment gateway integration

1) Cost per payment transaction

For most merchants, the cost is always an issue. A difference of 0.2% in an average cost per transaction may not sound like much, but for a small business with five million dollars in annual receipts, this represents $10K of lost profits.

 

Gateways often publish what is referred to as “discount rates” – for example, $2.9% plus a fixed cost per transaction with a tiered discount schedule as their volume grows. Larger payment providers may offer “interchange plus” schemes where merchants pay actual interchange fees and assessments plus an additional fixed fee for processing services.

 

These types of processing agreements may be subject to additional fees as well. While interchange plus fees can be more complex, larger merchants often prefer them because they provide visibility to the component costs of each transaction.

Understanding all the details of the fee structure including potential extra costs related to refunds, chargebacks, and miscellaneous fees is important regardless of the payment solution you select.

 


2) Percentage of transactions that complete successfully

A consideration often overlooked is the percentage of Authorizations and Captures that complete successfully on a gateway. This is arguably even more important than minor differences in the cost per transaction because failed authorizations can translate directly to lost business and a reduction of top-line revenue.

 

This is an area where the gateways offered by larger payment processors often have a significant edge over third-party gateways. Tier-one eCommerce gateways have success rates for completed transactions in the range of 95%, whereas better-known brand name gateways often fare poorly with success rates in the 80% range.¹

 

This critical conversion consideration is important for most merchants, so developers and ISVs should consider this carefully as well when choosing a gateway.

1. The Payment Gateways Report – August 2016 – Evan Bakker, BI Intelligence

 

 

3) Type of bank account required

Another consideration for any payment gateway integration is the type of bank account required for use with the payment gateway. Most gateways will require that the merchant have a merchant bank account and their own Merchant ID (MID). Other gateways essentially act as aggregators, collecting payments themselves and then distributing them to a merchant’s bank account periodically or as requested using ACH transfers.

 

This second model allows smaller merchants to use a regular bank account and get up and running quickly avoiding the need to have a MID and the fees involved with a merchant account.  PayPal and Stripe are examples of payment gateways that allow for this.

While this is an option, merchants doing a reasonable volume of sales, needing fast settlement will generally be better served by having a proper merchant account.

 

 

4) Support for card present/point of sale applications

Many popular payment gateways are built specifically for eCommerce transactions. This is logical, since most businesses adding a storefront already have established point-of-sale solutions, and eCommerce providers may not need one.

 

As the lines blur between traditional retail and commerce, however, it is useful to have a single payment infrastructure for both  and in-store payments. Not only does aggregating volume help reduce rates, this can be useful when offering capabilities like order  and pick up in-store, order-ahead, in-store refunds for purchases, and other capabilities that consumers increasingly demand.

 

Some gateways offer features required for point of sale payments such as batch processing, lane management, support for various terminal devices (card readers, EMV, pin pads etc.), and vertical application extensions for auto rental, lodging, healthcare and other industries.

For merchants that hope to use a single payment solution for both in-store and   channels, support for card present features can be important criteria when selecting a gateway.

 

 

 

5) Ease of integration and maintenance

For some developers or ISVs, ease of integration can be an important consideration. Some application gateways are developer friendly offering hosted payment pages or easy-to-use SDKs implemented in multiple programming languages. Some gateways even offer SDKs targeting specific mobile platforms like iOS or Android; supporting use-cases like in-app or mobile web wallet purchases.

 

Other payment gateways don’t offer SDKs but provide an interface specification instead (usually accessed via a REST or SOAP / XML POST API) where client applications send and receive payment transactions that they encode themselves in XML or JSON formats.

 

There are pros and cons to each solution. Some developers will prefer an SDK, but others view SDKs as problematic since they introduce a dependency on their code that can complicate the release management process. These developers would prefer to code directly to a specification where they have full control, even if it means more coding effort.

 

There is no right or wrong answer, but understanding the nature of the developer interface is also an important consideration in choosing a gateway.

 

6) Throughput & performance

Another factor in selecting a gateway is performance. Gateways often pass payment data through multiple providers, and each additional “hop” introduces latency and increases opportunities for errors or outages. Payment approval times can range from sub-second response times to several seconds or even tens-of-seconds depending on the gateway; these delays directly affect the user experience.

 

Generally, the closer the gateway is to a payment processor, the better the performance and reliability.

 


pci compliance-security-encryption-myth
7) Security, encryption and PCI scope

How the gateway handles sensitive cardholder data is another key consideration for both merchants and developers. Most gateways offer hosted payment solutions, iFrame-based solutions, or JavaScript libraries that vault credentials at the point of capture providing a low-value, non-PCI sensitive token to be used in place of the actual card number.

 

Gateways may also provide a separate token in response to a payment transaction that can be safely stored in the merchant’s database to facilitate “card on file” functionality so that consumers don’t need to rekey their card for subsequent purchases.

 

In selecting a gateway, it is important to understand features related to encryption and tokenization and avoid solutions that put the payment application in PCI scope. The same is true for gateways supporting card present solutions as well.

Ideally, the gateway should facilitate secure processing, using point-to-point encryption for any point of entry, including EMV, swiped, tapped or keyed transactions eliminating the applications need to store, handle or transmit card data.

 

The breadth of payment methods accepted – An important strategy for maximizing conversions is offering multiple payment methods. Ideally, a gateway should support payments for all major credit and debit cards.

 

Developers should also consider capabilities related to other popular payment methods like PayPal, MasterPass or Visa Checkout. Mobile wallet based payments are expected to increase in popularity in the coming years (Apple Pay, Android Pay, and others) as consumers increasingly prefer “one touch” checkout for faster speed of service both in-store and .

 

8) Breadth of payment processors supported

For ISVs, it can be advantageous to support multiple payment processors. This is often an argument for coding to a third-party gateway, for this reason alone. Some gateways have an established relationship with a single payment processor (e.g. Stripe) whereas other gateways support multiple processors (e.g. Vantiv’s Express Gateway).

There is no right or wrong answer here either, but before selecting a gateway, it is important to understand how this might constrain your merchant’s choices in terms of payment processors and banking services.

 

 

9) Multi-currency support

For  merchants selling internationally, multi-currency support is important as well. Multi-currency support should not be confused with accepting international cards. For example, a US domiciled merchant may sell goods or services to a Canadian resident where the amounts are presented and paid in US dollars, so multi-currency support is not strictly necessary.

 

Organizations selling internationally will see value in gateway solutions that allow customers to pay in their home currency however as this will increase conversions and sales.

Consumers prefer to pay in their home currency for a variety of reasons including concerns about noncompetitive currency exchange rates that may be levied by banks or credit card companies.

For merchants and ISVs, selecting the right payment gateway is an important decision. Different gateways have different strengths and weaknesses, and the right solution will depend on your unique needs and the merchants and customers that you serve.

 

For more information:  

Is Your Payment Gateway Right for Your Business? 

Top Five Integrations with a Payment Gateway 

Choosing the Right Payment API for Developers 

If you don't grow, you go.

 

Why don’t more executives and their employees invest in self-education? One reason is a time constraint. Another reason: it’s boring. If you carve out time to read a book but you keep falling asleep before you finish chapter one, you won’t learn anything. (Except how to cure your insomnia.)

 

One tactic I’ve implemented to keep my self-improvement quest lively is to periodically (a.k.a. whenever I feel like it) add a sports-related book to my reading pile. I’m sharing with you today one of those books – Everyone’s A Coach: Five Business Secrets for High-Performance Coaching by Ken Blanchard and Hall of Fame football coach Don Shula. Shula is a bonafide sage and has a dry wit that keeps you turning the pages. Blanchard is wise and entertaining as well; quote #29 below is guaranteed to make you smile.

 

Let’s dive into my favorite passages from Everyone’s A Coach … just in time to kickoff the 2018 NFL season!

 

  1. Secret #1 for high-performance coaching: Conviction-driven. Effective leaders stand for something. Never compromise your beliefs.
  2. Secret #2: Overlearning. Effective leaders help their teams achieve “practice perfection.” Practice until it’s perfect.
  3. Secret #3: Audible-ready. Effective leaders, and the people and teams they coach, are ready to change their game plan when the situation demands it.
  4. Secret #4: Consistency. Respond predictably to performance.
  5. Secret #5: Honesty-based. Effective leaders have high integrity and are clear and straightforward in their interactions with others. Walk your talk.
  6. Everything I do is to prepare people to perform to the best of their ability. And you do that one day at a time. – Shula
  7. Blanchard to his employees: If you don’t grow, you go. We all have to strive to continually get better.
  8. A river without banks is a puddle. Like those riverbanks, a good coach provides the direction and concentration for performers’ energies, helping channel all their efforts toward a single desired outcome. – Shula
  9. Great coaches want to win, but they don’t fall apart when they lose. – Blanchard
  10. As long as you have credibility, you have leadership. Credibility is your people believing that what you say is something they can hang their hat on. – Shula
  11. Usually we’re so busy with our tasks, we forget that above all else, what our people get from us is us – our values, our attitudes, our perceptions. – Blanchard
  12. If you find you like coaching, give it all you’ve got. If not, let someone else do it. – Shula
  13. Overlearning: the players are so prepared for a game that they have the skill and confidence needed to make that big play. Constant practice, constant attention to getting the details right every time. – Shula
  14. Overlearning system: Limit the number of goals; make people master of their assignments; reduce players’ practice errors; strive for continuous improvements.
  15. Most organizations overemphasize the goal-setting process and don’t pay enough attention to what needs to be done to accomplish goals. – Shula
  16. Failure is successfully finding out what you don’t want to repeat. – Blanchard
  17. As a coach, if you let errors go unnoticed, you’ll ensure that more of them will occur. – Blanchard
  18. The important thing is not just being intense but focusing that intensity on the things that matter. – Blanchard
  19. It’s not the mood he’s in but people’s performance that dictates his response. – Blanchard
  20. One thing I never want to be accused of is not noticing. – Shula
  21. A significant gap exists between what managers believe motivates employees most and what employees say motivates them. – Blanchard
  22. When a learner makes a mistake, be sure the person knows that the behavior was incorrect, but take the blame upon yourself (“Maybe I didn’t make it clear enough”) and then patiently go back to the beginning and give redirection. – Blanchard
  23. Effective leaders are clear and straightforward in their interactions with others. If people can’t have job security today, they want honesty. – Blanchard
  24. Softening a blow is not one of my gifts. I approach things in a straightforward way – sit down and look the guy in the eye and say, “This is what I think. You may not agree with it. But this is the way I feel, and this is why I am doing it. I know it’s tough to swallow, but I just want you to try to understand what I’m thinking and what my purpose is.” – Shula
  25. Astute business managers know there is no right way to do a wrong thing. – Blanchard
  26. Effective coaches confront their people, praise them sincerely, redirect or reprimand them without apology, and above all are honest with them. – Shula
  27. No matter what situation you are in, coaching others will require new things of you. Dealing with others in a leadership capacity will test your character, especially if your role is a highly visible one. – Shula
  28. A sense of humor permits you to accept criticism without  getting consumed by it. – Shula
  29. I think people in organizations today take themselves too seriously. They all seem to have tight underwear on. – Blanchard
  30. It’s hard to be honest and forthright with folks whose egos and pride are always up for grabs. – Blanchard
  31. You haven’t learned a thing until you can take action and use it. – Shula & Blanchard

 

For more On the Edge content, please visit the Worldpay Partner Advantage website.

 

Jim Roddy is a Reseller & ISV Business Advisor for Worldpay’s PaymentsEdge Advisory Services. He has been active in the POS channel since 1998, including 11 years as the President of Business Solutions Magazine, six years as a Retail Solutions Providers Association (RSPA) board member, and one term as RSPA Chairman of the Board. Jim is regularly requested to speak at industry conferences and he is author of the book Hire Like You Just Beat Cancer.

NETePay 5.07 is now standard

Worldpay Integrated Payments will begin to deploy Datacap Systems, Inc.,  In-Store NETePay version 5.07.30 as the default standard for all new deployments starting August 29, 2018. This 5.07.30 version is versatile, feature-rich and, most importantly designed to be backwards compatible to previously enabled merchant deployment parameters.

 

With this latest In-Store NETePay, Datacap has evolved their best-in-class technology for future generations of POS developers, resellers and merchants.  Worldpay is pleased to partner with Datacap in bringing their trusted solution into a new era. The 5.07 NETePay is primed with new features and functionality.

 

Features 

  • 5.07.30 includes an automatic update component called the Director 5, which eliminates the need for any further DeploymentIDs.
  • Backward compatible to previous enabled merchant deployment parameters
  • PA-DSS Validated
  • EMV Debit supported on Ingenico and Equinox pads (more pending)
  • Store & Forward*
  • EWIC*
  • QuickChip for supported Ingenico and Equinox pads (more pending)

*requires integration changes

 

Important Support notice

 

Starting August 29, 2018 Worldpay Integrated Payments will default to generating PSCS staging files registered under NETePay 5.07.30. DeploymentIDs generated with the 5.07.30 will NOT be compatible with older NETePay version, so it is important not to mix the older DeploymentIDs with this newer application component.  Application version and DeploymentID version must be in sync!

 

POS Developers: Although this NETePay is backwards compatible, we want you to let us know when you are ready!  Many of you have already contacted us about your systems compatibility with a NETePay upgrade.  The previous 5.06.11 will still be made available if required. Our integration and support teams can assist with making sure you have the right NETePay version that meets your business needs. 

 

Installers:  You will need to update the In-Store NETePay running on the local POS and in any distributed installers or zip-drives. If this newest version of NETePay cannot be supported at the time of the merchant installation, contact Worldpay customer support and request an older version of NETePay be used when generating DeploymentIDs in the PSCS stage file creation.

      

 

For new or existing Worldpay IP developers, our integration team specializes in the Datacap interfaces and additional details about how to integrate the dsiEMVUS solution are located in the quick start guide.

 

For more information

For additional information or technical assistance on Datacap’s payment interfaces, contact us today

Parag Patil in London

 

Recently I had the opportunity to visit London and I was amazed by the convenience of contactless pay everywhere. For those of you who use Apple Pay with the Apple watch, you might have already experienced some of this. Despite the convenience and habit-forming nature of paying with the Apple watch, here in the USA, the adoption is not widespread and we’re still forced to get our cards out of the wallet. This is where London hits the mark in terms of universal adoption everywhere, thereby unleashing the true power of wearables.

 

From the moment I landed in London and took the metro to the city, I used my Apple Watch to pay everywhere till I caught my flight back at Heathrow. Though it seems like a minor convenience, it is a major advantage not having to get a card from the vending machine or trying to figure out the ticket price with the exchange rate. In fact, there was a day when I completely forgot to take my wallet with me because I never had a reason to get my wallet. I recall taking the bus and ferry to Greenwich and my Apple Pay worked there too. The simple act of raising your wrist, shaving a few seconds vs. getting cards out of wallet (or even the phone!) is what makes this delightful and habit forming experience. I must admit this meant I wasn’t aware at times how much I was paying for the ride.

 

They also have contactless pay at restaurants and bars, so no matter where go you can pay from your wearable Apple Watch. This reminded me of Disneyworld in Orlando where they give you a wrist band which acts as universal ticketing for the duration of stay and works seamlessly with rides and restaurants within the park.

 

Surely as we see more merchants adopting contactless with newer terminals in US, there should be a subsequent uptick in the number of people using wearables for payments. The reason for lack of mobile pay adoption was that there wasn’t any substantial difference between taking phone out of pocket vs. taking the card out of wallet. So consumers stuck to their existing habit of using the card. If you observe closely, most people are either talking on phone while waiting in lines at groceries and hence they would rather take the card out vs. use the phone. Wearables change that dynamic with that one step reduced in payments i.e. removing the card/phone out of pocket.  And merchants will benefit from moving to accepting more contactless pay and issuers would benefit from participating in schemes like Apple Pay.

EMV compliance and the switch to chip-enabled cards and readers can have a big impact on reducing a merchant's interactions with fraud. Stolen data, particularly credit card and other sensitive data is still a large problem for companies. As long as enterprises store these materials in their databases, hackers will continue to try to infiltrate business networks to get their hands on customer information. 

 

EMV is leading customers to develop new habits like using mobile wallets with a biometric for a faster checkout experience. Discover 5 more ways EMV is changing the landscape: 

 

1. EMV readiness is growing.

 

Consumers will be able to use chip and pin credit at 100% of merchants by 2020.

 

Consumers should be able to use their chip and pin credit and debit cards at 99% of merchants by 2019 and 100% of merchants in 2020.

Source: https://www.statista.com/statistics/419777/forecast-of-pos-terminal-adoption-to-emv-usa/

 

2. The US is a chip market leader.

 

Now the US is the largest chip market in the world.

 

Before EMV adoption, in 2015, the US was 25 years behind the rest of the world when it came to chip-based cards. In October 2015, the US transitioned to chip-based cards after several high-profile credit card hacks at Target, Home Depot, Michaels, and other big-box retailers. Now, the US is the largest chip market in the world.  

Source: file:///C:/Users/U316770/Downloads/Is%20EMV%20Working%20ISV%20infographic%20(2).pdf

 

3. EMV cards combat counterfeit.

 

Fraud levels have dropped by 76% among merchants that have transitioned to EMV.

 

According to Visa, EMV cards have been effective in reducing counterfeit fraud, which is the most common type of fraud committed in the US. Merchants that have transitioned to EMV cards have seen fraud levels drop by 76% from December 2015 through December 2017.

Source: https://www.darkreading.com/risk/fraud-drops-76--for-merchants-using-emv-says-visa-/d/d-id/1331891

 

After the EMV rollout, fraudsters are getting more sophisticated.

 

Call center fraud rates have doubled since 2015

 

Fraudsters are adapting to the widespread use of EMV by moving to card-not-present (CNP) fraud. Since skimming and creating fake mag-stripe cards are no longer as profitable as they once were, fraud rings have turned to  chargeback fraud (making fraudulent purchases using stolen identities and card numbers), as well as targeting call centers with social engineering to steal account data. Call center fraud rates have doubled since 2015.

Source: http://totalaccess.emarketer.com/article.aspx?r=1015789

 

What’s next? Contactless. 

 

In Australia, 93% of payments are contactless.

 

EMV is already being outpaced by new and improved secure payments technology. In Australia, 93% of payments are contactless. In Canada, 51% of payments are contactless. Along with additional security, contactless payment also increases the speed of the transaction.

Source: https://www.retaildive.com/news/emv-payments-in-2018-the-state-of-the-update/521709/

20 payments insights for 2021

 

Last year, digital wallets surpassed  debit card usage in the U.S., and digital wallets are set to overtake credit cards as the leading payment option within the next five years. Don't get left in the dust left by the digital boom. Check out these 20 insights from Worldpay's 2017 Global Payments Report to prepare your business for the future:

 

1.In 2016, credit cards were the most popular  payment method around the world, with 29% saturation. However, by 2021, that will completely change, as an estimated 46% of consumers will use their eWallets to shop , instead of their credit or debit cards.

 

2. China is the largest eCommerce market in the world, and that's not going to change anytime soon. If you want to capture this market, look into accepting Alipay and WeChat pay on your website to attract Chinese shoppers. 

 

3. If you're looking to expand your business's footprint in North America, look to Latin America. Argentina will have the fastest-growing eCommerce market in Latin America for the next 5 years, outpacing both Mexico and Brazil, thanks to their high internet penetration rate (80.1% of the population has internet access) and a large middle class population.

 

4. Passwords are so 2017. Biometrics will spell the end for passwords - not just for point of sale payments, but for customers who shop and pay on their mobile device or biometic-enabled laptop or desktop.Current methods include fingerprint scans, iris scans, heartbeat scans, voice recognition, facial recognition, palm vein scanning, and even ear prints. 

 

5. Biometrics will go beyond the humble fingerprint scanner. While nearly all mobile wallets have allowed for payment authentication via fingerprint scan or PIN in the past, Apple’s recent debut of the iPhone X, with its 3D face-scanning detection technology, is set to lead a shift away from fingerprint scanning. Where Apple goes, the market usually follows. 

 

6. India is the fastest-growing eCommerce market in the world. Demonetisation and a large population of unbanked consumers have contributed to the rise of eWallets, led by Snapdeal, MobiKwik, and Paytm.

 

7. Businesses that know how to leverage big data to tailor gather insights on how their customer demands and preferences change over time will be able to build a longer term relationship with their customers. For instance, Costco turns over its entire product suite 12 times a year to better serve its 75 million US subscribers. 

 

8. Hong Kong is one of the leading digital economies with some of the highest rates of internet saturation in the world at almost 90%. 

 

9. Baby boomers will be the cause of an eCommerce boom. By some estimates, global household spending by people aged over 60 in 2021 will be twice as much as seniors spent in 2010 - to the tune of $15 trillion. This is due to a large, tech-savvy aging population who are already comfortable using social networks and shopping . 

 

10. Credit cards are the method of choice for  shoppers in Japan. In the country with the world’s oldest population, low smartphone use among consumers age 65 and older is restricting mCommerce from growing quickly.

 

11. Aussies are increasingly opting for using their eWallets like PayPal and Visa Checkout over credit cards. BPAY is a popular electronic bill payment system in Australia that is quickly dominating other bill payment services. Another thing Aussies are into: international shipping. Nearly 20% of Australian eCommerce was cross-border in 2016.

 

12. While digital wallets will remain the global payment method of choice for eCommerce, bank transfers will also surpass both credit and debit cards in popularity, becoming the second most popular  payment method in the world. This is good news for  merchants, since there is generally a lower cost of payment acceptance for bank transfers than for payment cards. 

 

13. In Malaysia, eCommerce growth is expected to outpace traditional in-store sales over the next 5 years. 75% of Malaysian internet users browse the web via smartphone.

 

14. Last year Singapore overtook Silicon Valley as the Number 1 source for start-ups, so it’s no wonder that 73% of internet users in this high tech city shop .

 

15. The US has the oldest eCommerce market in the world. And US shoppers are pretty traditional, with 75% of  transactions in the US paid via Visa or Mastercard.

 

16. In the Netherlands, iDEAL is the most widely used payment method , with 1 out of every 5 purchases made on a smartphone.

 

17. Subscription services will grow in popularity, due to consumers who are happy to pay for convenience. Right now, 92% of millennials and 70% of retirees in the US have active subscriptions. Look for the subscription model to make an impact beyond content subscriptions, to luxury goods to sports equipment, and even cars.  

 

18. The top 3 digital payment services for Russian shoppers are Yandex.Money, Webmoney, and Qiwi. Nearly 50% of  shoppers in Russia make at least one  purchase a month. 

 

19. Consumers in New Zealand are all about platforms with Alibaba and Amazon both having significant presence. 

 

20. South Korea's advanced IT infrastructure means that nearly all households are connected to the internet and most adults have a smartphone. South Korea is one of the largest eCommerce markets in Asia, and is expected to see double digit eCommerce growth in the next 5 years. 

4 security threats facing merchants

 

If a business accepts credit or debit cards, they're responsible for protecting their customers' sensitive data from theft and misuse. Knowing the payments security threats that merchants face can help prevent a catastrophe, like a data breach or penalty fines from the major credit card brands from occurring.

 

Check out our infographic on the main threats that merchants face today, as well as the solutions that can help mitigate their risk: 

 

Security threats facing merchants