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.MAC UPDATES
Speaker Announcements for MAC Tech Day(s)
MAC is excited to announce our first two speakers for Tech Day(s) on March 2-3, 2021.
Troy Leach - SVP, Engagement Officer for Market Intelligence & Stakeholder - PCI Security Standards Council
Jordan Bennett - Senior Director, Network Risk - Nacha
These two industry leaders are just a couple of the many speakers expected at our first stand alone Tech Day(s). This free-to-members virtual event is scheduled for March 2-3, 2021, and launches on a new platform with enhanced networking and interactive elements.
Tech Day(s) offers a deep dive into the payment processing sector. It provides updates from card brands and anticipated changes from the PCI Security Standards Council (PCI SSC) and SMEs on new rule implementations. This virtual event will share how PCI SSC’s expected changes will impact the payment industry’s future.
Tech Day(s) is a must-attend event if you are responsible for managing technical or tactical compliance with card brands. Our target audience works in project management, engineering, settlement, and front and back end processing.
What to Expect at Tech Day(s):
- Two days of virtual education
- Card brand updates
- PCI SSC changes
- Compliance review
- Emerging trends
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.INDUSTRY NEWS
How the US continues to lag behind in secure electronic payments
Forbes
The U.S. can learn a lot from other countries when it comes to providing better security and consumer protection for electronic payment services. Now would be a great time to emulate the European Union, as it implements the revised Payment Services Directive (PSD2). Among other things, PSD2 adds a Secure Customer Authentication (SCA) mandate to Europe's already advanced payment protection regulations and technologies. By 2021, all European digital transactions must validate customers' payments using two-factor or multi-factor authentication (2FA/MFA).
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Buy now, pay later? Layaway apps see triple-digit growth amid pandemic shopping
NBC News
Some of the country’s biggest retailers are resurrecting a modern version of a long-retired payment option similar to layaway or rent-to-pay — buy now, pay later.
With over 11 million people still unemployed due to the pandemic, Neiman Marcus, Saks Fifth Avenue, Sephora, Target and Amazon are some of the hundreds of retailers who are offering shoppers a way to parse out interest-free payments debited from a bank account over time for holiday gifts instead of forcing consumers to pay with high-interest credit cards.
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7 major payment trends that will shake up banking in the year ahead
The Financial Brand
The role of payments as a core banking function, already eroding, is now under full assault. Between fintechs like Square, big tech wallets and the massive impact of COVID-19, the payment space is being upended as never before. Here's what banks and credit unions need to know to stay in the game and succeed in 2021 and beyond.
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AgeChecker.Net is the leading provider in online age verification for age-restricted industries. Compliance for Tobacco, Vape, CBD, gaming, supplements and many more. Require your merchants to use online age verification for age restricted products. Protect your merchant portfolio by adding an additional layer of KYC compliance.
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Top 5 banking and fintech trends for 2021
Forbes
Changes (or disruptions) to the value chain have certainly been in the works for a while now, but 2021 is going to shine a much brighter spotlight on those activities — making 2021 the year of value chain disruption in banking and fintech.
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Mitigating fraud in the age of BOPIS: Where retailers can make a change
Security
The world of retail has changed drastically over the past few months, and with that how retailers worked to ensure their customers were protected when making purchases online became an even higher priority.
Before the pandemic, buy online, pickup in store (BOPIS) became hugely popular to consumers who didn’t want to have to wait for items to be delivered, pay for shipping or for those that wanted to avoid shopping in store altogether. And, as COVID took over the world, retailers shifted their focus to ensure BOPIS was something they could capitalize on. In fact, data from Rakuten Intelligence found that for grocery orders, BOPIS saw an 82.8% growth surge.
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7-Eleven mobile wallet offers contactless payment option
Mobile Payments Today
Convenience store chain 7-Eleven has introduced the 7-Eleven mobile wallet, a contactless way for customers to pay at participating U.S. stores.
Customers can access the wallet through the 7-Eleven app and securely load funds to use at checkout using cash, debit and credit cards, Apple Pay, Google Pay and prepaid 7-Eleven gift cards, according to a press release. Cash must be loaded at the store but all other payment methods can be loaded in the app without a loading or transaction fees or incurring fees from credit cards charge.
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Raise Marketplace launches fraud prevention solution rZero to help corporations fight digital fraud
The Paypers
Raise Marketplace has launched rZero, a new risk minimisation service that prevents digital fraud including account takeover, fraudulent accounts, and payment transaction fraud.
According to the press release, the offering will protect corporations from potential losses due to counterfeit activity. The initiative comes as more payment systems convert to operating in the digital marketplace, they become more vulnerable to fraud, with consequences for both merchants and consumers. About 77% of US merchants have been a victim of payment fraud and 54% of consumers have experienced fraudulent attempts to use their credit card or other payment information.
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What are the top 10 trends that put you at risk of BRAM & GBPP fines heading into 2021? Download the guide and find out..
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Scammers prove corporate payments fraud comes in all shapes and sizes
PYMNTS
Business email compromise (BEC) scams continue to ravage company coffers. Indeed, the last week has seen the emergence of even more examples coming to light. Just last week, IBM cybersecurity experts uncovered a widespread BEC attack targeting players in the coronavirus vaccine supply chain.
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Advancing payment processing with IoT
FinTech Magazine
As with many industries, IoT is playing a huge part in the fintech market.
Whether it’s improving customer service, enhancing authentication and security or increasing operational efficiencies, IoT (internet of things) has the potential to drive significant change in the financial industry.
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Revolut Business comes to PrestaShop merchants
Finextra
PrestaShop, a leading e-commerce platform in Europe and Latin America, and Revolut, the financial superapp with over 13 million customers worldwide, announce a strategic partnership which will enable PrestaShop merchants to leverage Revolut Business, allowing sellers and their customers to benefit from seamless payments when shopping online.
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Promoted by
Sysnet Global Solutions
| Learn how acquirers and processors can reduce their reliance on PCI non-compliance fee revenue while setting the stage to deliver enhanced security capabilities that increase PCI compliance, reduce merchant churn, and dramatically enhance overall recurring revenue |
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Promoted by
VISA
| Do you have an idea for a new product or service? Or have you identified an opportunity that no one has capitalized on? Or perhaps you’re taking over an existing business? Whatever your situation, we have helpful tips and recommended partners that can help your business. |
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Amsterdam-based Payaut lands €2.6 million to grow its all-in-one payment solution for online marketplaces
EU-Startups
Dutch fintech startup Payaut announces raising over €2.6 million seed funding. Existing investor LocalGlobe led the round, with Finch Capital also participating again. Global VC fund Entrée Capital who specializes in fintech and several notable angels from the fintech and payment industry completed the lineup of investors. Payaut will use the fresh funds to scale its payment service for online marketplaces and to roll out in the rest of Europe.
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