So, given the benefits of wearables payments via NFC, how can you try to increase usage? At Computop, we've seen that it's important to check your PoS device to ensure it is using the newest technology, including CDVCM as a verification method, to support payments via wearables. Also, consider posting signs that encourage consumers to try it.
Computop, the global payment processor, today announced that Europe’s leading online optician, Mister Spex, has selected the company’s highly secure POS terminals for the processing of all card payments across its national network of German stores. The CCV Pad card terminal from Computop is one of a new generation of POS solutions that have been developed to reduce costs and expenditure on PCI security audits while protecting purchasers’ card data. (...)
by Ralf Gladis, Computop: In the fight against fraud, payment service providers (PSPs) must have better tools at their disposal than ever before. (...) Rule-based fraud prevention is replaced by risk-based fraud prevention. The difference: previous procedures allowed the risk assessment to be based on certain rules according to which a transaction was approved or rejected. (...)
Linking payment and accounting is a logical step. It is the payment flow that is to be recorded and which constitutes the tax liability. That’s why more and more eCommerce retailers are shifting their accounts receivable processes to their payment service provider, especially those for whom cross-border trading is a core part of their offer.
All the indications are that in 2019 we will see user names and passwords replaced with biometric authentication like fingerprints, face and voice recognition supported by quickly evolving biometrics technology. At Computop we see more and more retailers interested in using biometrics, not just for securing payments, but also to enable customers to login to their online shop accounts.
The Paypers has caught up with several speakers of the upcoming Merchant Payments Ecosystem 2019 to learn about the future payments and fintech drivers. (...) Ralf Gladis, CEO & Founder, Computop: "We will witness the rise of biometric authentication. Mastercard has already announced to require issuers to provide biometric authentication to cardholders. While biometrics will provide security as well as convenience, European merchants will focus on old school payment methods like direct debit and open invoice in order to avoid PSD2 two-factor authentication damaging their conversion rate."
Ralf Gladis, CEO of Computop: Biometrics will begin to have a serious impact on how people pay for goods using their mobiles as the technology for payments transactions continues to evolve and become faster and more reliable.
Finance Monthly takes a deeper look at the global response to cryptocurrencies. Ralf Gladis, CEO of Computop, answers questions surrounding regulation and global consensus, with some interesting pointers on privacy and trade therein.
by Ralf Gladis, CEO Computop - (...) it would take many years to establish cryptocurrencies as a widely accepted form of payment, even if central banks take the lead. And why should they do that? To make payments a little cheaper and a bit more global?(...)
Ralf Gladis, CEO, Computop: "For the first time in the UK, debit card transactions overtook cash as the most popular form of payment. According to research, when it comes to cashless payments, both Canada and Sweden are ahead of the pack, but this change in the UK is a significant indicator of the general trend towards electronic payment solutions and away from cash."
However, at Computop, we have not seen many new and relevant payment methods emerging. Instead, our merchants are focusing on implementing the infrastructure that will allow omnichannel payments on an international scale. Good examples of this are international car-rental firm Sixt, which now has highly encrypted P2PE terminals in its locations in Europe and the US, and German fashion company s.Oliver, with click-and-collect and ship-from-store solutions and many other advanced services.
Ralf Gladis, CEO, Computop: "In 2018 we have seen innovations – but perhaps not as many as we hoped for. The PSD2 directive kicked off in January, and while Instant Payments were a key part of this, they still had a tough start."
By Ralf Gladis, Founding Director, Computop: No longer the stuff of science fiction, biometrics technology is fast becoming a reality for today’s businesses and consumers. (...) Therefore, it’s not only the authentication which provides better security. When we process a biometric authentication at Computop we never exchange biometric data but only cryptographic key pairs.
by Ralf Gladis, CEO at Computop - (...)Looking ahead, we can be sure that the payments landscape will change. Only methods that support silent, smooth, automatic processes with a global reach will have a future. We don’t need new brands with new payment solutions. Instead, the established payment brands that consumers trust will simply evolve. Handing over delicate processes to our smart devices necessitates a big change in consumer behaviour, particularly amongst older generations. (...)
Computop, for instance, sees a rising demand for biometric solutions from the white label customers (mostly banks and PSPs). Therefore, biometric authentication will apply to all contactless transactions made at terminals with a mobile device.