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28 Posts authored by: daniperea

We polled our twitter audiences to see what they knew about PSD2. Results were mixed!

 

As payment developers and API programmers, you face pressure to meet today’s consumer expectations to offer digital payment solutions. It is also critical to understand all the current rules that govern the use of their application or software in a geographical area.

 

For example, the Payment Services Directive (PSD) has a significant impact on all payment developers in the European Union (EU). This EU regulation has yet to reach other parts of the world, but the revolutionary changes it brings may signal similar legislation in other parts of the world where consumers want digital payment solutions.

 

The latest version of the regulation, known as Revised Payment Services Directive (PSD2), has launched to address the online payment process. If you are not already familiar with this new directive, now is the time to understand the changes and the impact they have on payment processes and platforms.

 

While the common response to these changes has been an ad-hoc approach to plugging in solutions to address the requirements, this latest directive may call for a more dramatic makeover to digital payment platforms.

 

Let’s cover PSD2, its purpose, and the identifiable challenges and opportunities that result from this regulatory environment.

 

What is PSD2?

 

The European Union created PSD2 as the second Payment Services Directive to transform the payments industry so that it aligns with the digital environment that consumers and businesses use. EU organizations had to adopt new regulations by the end of 2018.

 

As a set of standards, PSD2 establishes guidelines for how to pay and accept payments online. It also determines the process for sharing and viewing information related the online payment process.

 

Key Changes Since PSD1

 

The key changes from the first directive include access to bank information. Before the new directive, banks had a monopoly on their users’ data. With PSD2, merchants like Amazon can get bank account data from a user’s bank with their permission. This allows a more direct payment process rather than having to bring in another party like PayPal or a credit card provider.

 

Also, consumers can allow Account Information Service Providers Payment Initiation Service Providers (PISPs) to put all their different account information in one place. From there, they can get a dashboard view of all accounts or make payments from multiple banks within one platform. This drives greater control and convenience for consumers.

 

Another change involves stronger identity checks for online purchases. All the changes together create an online payment environment that gives consumers more payment choices, protection, and control.

 

A Challenge for Developers: Strong Customer Authentication

 

While organizations should have already enacted PSD2, one part of the process involves more time. By September 2019, developers should address the challenge of enacting strong customer authentication (SCA).

 

PSD2 defines these transactions as including account access through computers (desktops and laptops) and mobile devices (smartphones and tablets). Strong customer authentication is also necessary for the actual payment authentication process.

 

At least two of three authentication methods must authenticate all these transactions. There are many methods that may fulfill this requirement.

 

First, there can be two devices where one is running the banking/merchant application and the other is providing the authentication. This scenario includes hardware tokens and U2F devices as authentication devices. It would also be possible to have a mobile device and a laptop where the laptop is running the banking/merchant application and the mobile device is providing authentication. However, the challenge here is to be able to have dynamic linking of payment/merchant information sent back to that authentication device.

 

It is also possible to use two apps and one device. This scenario would involve a single device, such as a smartphone, which would have the banking/merchant app and an authentication app like Google Authenticator or a specialty-built authentication app.

 

Another scenario is to use one app and one device. With this scenario, there would be a mobile banking app that also provides authentication capability that you accessed through a smartphone.

 

The last scenario is Out-of-Band (OOB) Authentication. A mobile phone number receives a SMS that a SIM card has secured. In this case, the mobile device would serve as the second factor. Consumers know and trust this method already because it is easy and convenient.

 

However, the question is: How do institutions provide a frictionless experience when SCA can create friction?

 

Opportunities with Machine Learning and Artificial Intelligence

 

One answer is machine learning, which can address the dual needs of increased security and a better customer experience. PSD2 allows for SCA exemptions for Payment Service Providers (PSPs) that have incorporated machine learning or another type of analytics. Both types of tools have reduced fraud rates.

 

Machine learning platforms combine artificial intelligence technology and risk management tools designed for fraud detection. The advanced analytics platforms and tools can develop and manage high volumes of behavioral data entity profiles and then continue to learn as they collect more data.

 

The platforms can also make real-time, informed decisions from the available data. In this way, they can keep customer accounts secure from data breaches and account takeovers. Because of the speed that this machine learning capability delivers in terms of decision-making, there is minimal friction in the payment process. With fast, yet highly secure, transactions, customers enjoy their experience much more than the earlier process.

 

What’s Next?

 

PSD2 is now in use. Legacy systems no longer work in terms of security or customer experience. Rather than suffering with the same issues as many banks and other payment service providers, the emergence of new regulations like PSD2 signal it is time to invest in developing new payment platforms with this recent technology.

 

However, through the ability to provide additional financial services, reduced fees, and enhanced customer experiences, you’ll be able to reach, engage, and retain more customers while raising security levels and maintaining compliance.

 

If you are ready to learn more and enact a comprehensive change to your digital payment platform, please download Worldpay’s PSD2 eBook. It supplies a wealth of information on the benefits and process of addressing all PSD2 requirements.

 Gaming and Payments: Trends, Adoption, and Technology

 

With a mix of opportunities and challenges on the horizon, the mobile and online gaming industry is continuing to evolve in response to an ever-changing regulatory environment. Other considerations include tech advancements in gaming and audiences with diverse, shifting expectations about their gaming experiences.

 

The continued consolidation among gaming industry companies is in response to the ongoing pressure to maintain a competitive advantage through spending considerable resources. To identify how to stand out in this complex gaming environment, many gaming companies are exploring ways to enhance the user experience, including payments. The payment component is critical to achieving a new level of seamless convenience.

 

That’s why Worldpay has put together a global gaming and payments report, which includes a survey of 16 countries for an international view of integrated payments within mobile and online gaming applications.

 

The Gaming Market’s Impact on You

 

U.S. gaming markets that are set to experience significant growth this year include state lottery gaming, casino and resort gaming, sports and eSports betting, and online gaming.

 

Each of these U.S. gaming markets are prime examples of creating more transactional velocity and brand affinity through omni-channel gaming offerings. In each of these gaming markets, players are looking at how to expand their physical, mobile, and online opportunities, while maintaining and growing their customers across all channels.

 

Within these gaming markets, payment trends are critical to watch as they reflect a larger transition to how consumers expect to pay. For example, eWallet will grow from 20 percent of gaming payments in 2018 to 33 percent in 2022. Meanwhile, credit cards will decrease from 34 percent of gaming payments in 2018 to 27 percent in 2022, while debit card gaming payments will remain the same at 19 percent now and through 2022.

 

Drivers Behind Changes in Gaming and Payments

 

The drivers of today’s gaming and payments trends are the same changes occurring in the larger payment landscape. Two of these drivers include the Now Economy and millennial audiences.

 

The Now Economy has completely changed customer expectations. When businesses began to enable the ability to spend money anytime, anywhere, consumers responded in droves to companies that could do business whenever and wherever the customer had an internet connection and money to spend. This immediacy for payments is critical in an industry like gaming where timing is everything when placing a bet, as well as receiving game winnings.

 

That means gaming operators need to have payment processes that are seamless by removing bad friction that slows transactions and could hurt the betting and the gaming experience. Even if these gaming customers want immediate payment capability, they don’t want to hedge their bets on an unsecured process that does not use tools like user authentication.

 

millennial trends in gaming

 

Second, the millennial demographic is driving many of the changes in the gaming industry. As they become a greater force as a gaming customer segment, millennials are applying the same expectations as they do to other customer experiences like with the retail environment. Those expectations involve personalized gaming experiences with payment options that align with the convenience level they receive in other aspects of their lives.

 

Growing up in a digital environment where information is readily accessible, millennials have amassed a large amount of knowledge related to anything they engage with, including gaming. In fact, they know more about odds, games, and gaming providers compared to other customer segments. If they think the odds aren’t in their favor with a particular game like slots, then they will opt for a more skills-based game with better odds. And, if a gaming provider doesn’t meet their expectations, millennial users will switch to one of many other available gaming apps and providers.

 

To address player expectations around personalization, a gaming provider has to know each player’s preference. With more players opting to use mobile applications, it’s critical to offer fast, secure payment options. With eWallets, a gaming provider can leverage multiple layers of security, such as encryption, tokenization, and device authentication, while keeping payments seamless

 

The Role of the Developer in Gaming and Payments

 

Developers can address these trends by making the payment process “disappear” while also offering these alternative payment methods like eWallets that players use in other aspects of their lives.

 

To offer a personalized experience, developers are an integral part of creating a payment acceptance strategy that includes numerous payment methods -- credit and debit cards, direct debit, and mobile wallets -- and many currencies to reach players beyond U.S. borders.

 

Also, developers can help enable fast payments and payouts. From placing a bet to collecting winnings, an exceptional gaming experience involves speed and access. For example, Visa Direct enables FastAccess Funding, which delivers real-time (under 30 minutes) payments compared to standard payout times of between two and five days.

                                                                                                                                             With 59 percent of Mobile Payment Journey participants stating they would switch payment methods if it means a faster payout, we expect rapid player adoption of FastAccess Funding.

 

A New Era

 

Evolving player expectations, advancing technology, and changing regulations have led to a new era for payments and gaming. Players have unparalleled freedom and flexibility to play and pay in the most convenient way.

 

Offering a seamless payment process that integrates traditional and digital methods heightens the gaming experience and enhances customer loyalty. Worldpay will address the inevitable changes in gaming and payments as well as support your efforts to meet your customers’ expectations.

 

To learn more about the state of gaming and payment trends, download your copy of our new report here: https://www.worldpay.com/global/insight/articles/2019-02/global-gaming-payments-report.

 

Worldpay's 2018 Global Payments Report offers a comprehensive overview of the ways global consumers pay, from Argentina to Vietnam and everywhere in between. We took a look at 4 high potential emerging eCommerce markets in the 2018 report: India, China, Russia, and Brazil.

 

Worldpay ONE took a look at 4 emerging eCommerce markets: India, China, Russia, and Brazil to provide takeaways for developers looking to take their eCommerce business global. We looked at alternative payments and eWallets, cross-border eCommerce, and changing trends in the largest consumer markets (China and India are growing quickly).

 

Are you ready to expand your eCommerce business into new markets? Discover what tech trends and tech regulations you need to stay on top of with the Worldpay ONE Global Developer Insights report

Our top question (with over 1,000 views!) of the month comes from eegorov on sending a TransactionQuery request: 

 

Check out Evgeniy's question and our answer here. 

 

 

If you ask or answer a question that helps our community members, you're automatically entered into a monthly contest for a $25 Amazon gift card! 

5 Critical Payment Integrations Questions for Your Dev Team

 

Payments were once a standalone process that signaled the end to a sale of a product or service. Today, global payments are an integral part of a customer experience and involve more interactions and transaction opportunities.

 

In this new payments world, traditional web, mobile, and storefront environments are converging. Many payment gateway options have appeared. At the same time, there are growing security concerns.

 

Payment integration has provided a way to bring a wide range of tools together to address these trends and challenges. However, it is not as simple as developing and launching a payment integration platform. Planning involves leveraging payment API options, creating secure and scalable payment processing integrations, and launching to add merchants for payment facilitators.

 

To plan and launch a payment integration solution, there are some critical questions to ask developers. In part one of this two-part series, we tackle five of these payment integration questions.

 

1) How long will a payment integration solution take to develop before we can start onboarding merchants? 

 

Development and launch timing depend on many factors. These include company needs, integrationmodel, availability of a POS, and certification competition. Also, it's important to have proper coding and testing resources.

 

These steps include kickoff followed by development, testing, and certification. Then, it's pre-production, production go-live, and processing go-live.

 

The ability to accelerate merchant onboarding also depends on the development team’s availability and support. Find out what empowers developers to complete these steps.

 

Working with Worldpay can connect developers with a comprehensive set of automated onboarding tools.

 

2) How will you secure cardholder data throughout payment processing?

 

Data security is one of the most pressing issues facing the global payments industry.

 

Since cardholder data is such a tempting and vulnerable target for fraudsters, high-profile security breaches continue at a rampant pace with the liability resting on the shoulders of the company experiencing the breach. 

 

Ask your development team about their experience with security compliance. Find out how they can ensure that information is safe.

 

Worldpay can help tokenize and anonymize data to strengthen your security efforts. Worldpay implementation specialists can also tell you what the https://www.worldpay.com/uk/pci-dss-overview mean for your company.

 

Yet, every company handles data according to applicable regulations as well as to their processes for returns, subscription sign-ups, and similar situations that involve cardholder data.

 

That’s where developers can describe how your company handles those processes so Worldpay can recommend the most appropriate solution to minimize cardholder data risk. 

 

3) Does the payment solution provider’s technology integrate with what we plan to do? If not, how can we use a payment API to achieve payment integration?

 

This is a question where developers will need to be visionary in their responses. That’s because what you plan to do as a company involves the near and distant future. In return, this leads to a more complex environment for payment integration.

 

When asking developers, it's important to find out if the payment solution provider’s technology will scale with the business.

 

This inquiry may lead to other questions like, “Do we want to enable shopping online with in-store pick-up to address the current on-demand trend consumers expect?”

 

Or, do we plan to open more locations that need more payment gateway and security features?

 

It's a lot to consider, especially when trends and expectations are always shifting. That’s when you and the developer team must look outward at trending technology for retail payments and fulfillment.

 

In exploring these trends together and using the developers' insights, you and your payment solution provider can address these changing trends within your current and future payment integration processes.

 

4) Are there tools and resources available if payment integration process issues appear?

 

Your development team has extensive knowledge, experience, and skill. However, even with such talent, they may still need to tap external expertise if they are stuck with the payment integration development process.

 

They will need access to support, tools, and resources should they get stuck with some aspect of the payment integration process now or in the future. This is where developers will need to explain what type of specialized support would help.

 

Knowing what they need in terms of external support enables you to find the right payment integration partner. For example, developers can enjoy 24/7 access  to Worldpay integration specialists and support forums.

 

Documentation and features like searchable/code samples are useful when there is a question. Or, it may help to tap into Worldpay’s Point of sale for XML, JSON, and HTML as well as connect to a knowledge base.

 

5) Are there available payment processing and security features to include as we scale our business? 

 

 

While stakeholder and business leadership define requirements, developers can enable the experience as well as support the plan and vision. Developers also can explain how extra functionality may affect integration performance.

 

You’ll be able to get a better sense of what features could create an enhanced customer experience by turning to the development team. For example, some companies need credit card terminals to accept payments by mail or telephone. Others might seek features that account for gratuities and enable pre-authorizations.

 

Another company may want to know how to better leverage available cardholder data for new insights to drive personalization. Reports and analytics offer a way to identify shopping conversion paths. It can also tell you where buyers are coming from and what type of payment they are using. 

 

Open Communication Equates to Greater Payment Integration Success

 

Ask the integration team, listen to their answers, and direct your payment integration strategy toward their recommendations.

 

Having an open communication process between the technical and strategic components of your company will increase the chances of successful development and implementation now and in the future.

Our top question of the month comes from ptaysavang regarding the SecureNet API being retired. 

 

Check out his question and our answer here

 

 

If you ask or answer a question that helps our community members, you're automatically entered into a contest for a $25 Amazon gift card! 

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! 

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

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

Take the developer survey to enter to win 1 of 3 $100 Amazon gift cards

We want to hear from you how payments developers work. Take any (or all) of our three developer work surveys to enter to win a $100 Amazon gift card.

 

We'll be giving away 3 $100 Amazon gift cards-1 for each short survey- so if you take them all, that's three chances to win! 

daniperea

Join us at RSPA RetailNOW

Posted by daniperea Jul 26, 2018

retail now, rspa

 

Join Worldpay at RSPA RetailNOW 2018

August 5-8

Nashville, TN

Worldpay Booth #725

 

A team inspired to do better

Meet the team attending RetailNOW 2018 and hear how they are striving to empower your business independence.

 

 

Every year Worldpay looks forward to reconnecting with our partners, vendors and soon to be partners  ! With everything going on at the show, we wanted to make sure you don't miss out on the opportunities planned for you. 

 

Product booth demos

Explore what Worldpay is building to help our partners be independent 

  • triPOS® Connect and Verifone® VX 690 bring streamlined POS payment experiences to the table
  • triPOS Mobile for iOS and Android is built for the customer in mind
  • iQ® Launchpad puts partners in control for new merchant on-boarding and more
  • Bizshield/Insights delivers useful data for busy merchants, which is why we’ve made our data analytics tool intuitive and easy to use.

 

Worldpay speaking events

How Leading POS Resellers Implement Recurring Revenue Products & Services

  • Moderated by Jim Roddy, Worldpay
  • Monday, Aug. 6, 5:00-6:30 PM and Wednesday, Aug. 8, 8:00-9:30 AM

Our industry’s top-performing resellers regularly add new recurring revenue streams to their offering. This session will go in-depth with executives from those organizations detailing how they select, evaluate, bundle, market, sell, and service their recurring revenue products and services. We’ll discuss headaches and success stories plus practical tactics and techniques for transitioning your business to the highly profitable recurring revenue model.

 

You’ve Hired the Best, Now Develop Your Team for Success! (Building Productive Teams for the Long Term)

  • Presented by Shannon Reichart and Paul Kirk of Worldpay
  • Monday, Aug. 6, - 11:40am - 11:00am and 11:50am - 12:30pm
  • and Wednesday, Aug. 8, 8:00am - 8:40am and 8:50am - 9:30am

Let’s face it. Today’s tech-savvy workforce has options, and because of this, finding the right people for our business can be a challenge. This ranges from salespeople, administrative people, and everyone in between to keep your organization running at optimal velocity. And more importantly, keeping the right people is even more challenging!


This 40-minute session will assist with how to invest in developing your most valuable resource, your people, and demonstrate why this is so critical now more than ever before and how you can maximize your ROI in your talent development.

 

troubleshooting the eCommerce sandbox

 

Got 99 problems and access to our eCommerce sandbox is one (or all) of them?

 

First, bookmark Vantiv eCommerce Sandbox  for easy reference, then read on for the answers to 3 common Sandbox troubleshooting questions.

 

1) The url doesn’t work.

 

Make sure you’re using the correct url: https://www.testvantivcnp.com/sandbox/communicator/online.

 

We also recently expanded the sandbox to allow testing of our chargeback API. The URL to do this is: https://www.testvantivcnp.com/sandbox/services/chargebacks

 

2) Oops, you’re not in the Sandbox environment, you’re in the prelive environment.

 

How do you tell if you’re in the sandbox or the prelive environment?

This is easy-peasy. If the url has “prelive” in it, you’re in the prelive environment. If the url has sandbox in it, you’re in the sandbox environment.

 

Once you have applications working in the Sandbox, you can request access to our Pre-Live environment for additional testing. The prelive environment has scheduled maintenance on Tuesdays and Thursdays which is why you might see unresponsiveness. Please contact support at ecc@vantiv.com for prelive issues.

 

From: Is the sandbox site down? 

 

3) This still isn’t working - what can I do?


Have no fear, contact our helpful support team at sdksupport@vantiv.com.

 

The sandbox can tell you if it’s up or not. The live status can be checked at https://vantiv.github.io/sandbox/