Visa announces the availability of its suite of sensory branding for merchants, terminal manufacturers and developers

Verifone, Equinox Payments, Ingenico Group, and Poynt Sign-on to Pilot New Visa Sensory Branding: Sound, animation, and haptic (vibration) that signifies completed transactions

NEW YORK, 2018-Jan-16 — /EPR Retail News/ — NATIONAL RETAIL FEDERATION “BIG SHOW” – Visa (NYSE: V) today (Jan. 14, 2018) announced that its suite of sensory branding is now available as a pilot program for merchants, terminal manufacturers and developers. In a world increasingly filled with voice-commands, networked appliances and payment-enabled wearables, Visa’s unique sound, animation and haptic (vibration) cues signify completed, secure transactions in digital and physical retail environments when consumers pay using Visa.

“Our research has shown that Visa’s sensory cues signal speed, trust and convenience among consumers,” said Jack Forestell, head of global merchant solutions, Visa Inc. “As new payment experiences proliferate, we are helping our partners assure their customers that their transaction has been quickly and securely completed, no matter how they prefer to pay.”

Covering approximately 60 percent of the U.S. merchant point-of-sale terminal market1, manufacturers Equinox Payments, Ingenico Group, Poynt, and Verifone are working with Visa to pilot sensory branding with merchant partners in the coming year. According to a recent consumer study conducted in eight countries, 81 percent 2 of participants said they would have a more positive perception of merchants who used either the sound or animation cues. Additionally, less than a second in length2, the sound of Visa was found to signal speed and convenience.

“We are pleased that Visa will be first to take advantage of new Verifone capabilities that enable distinctive experiences for cardholders,” said Vin D’Agostino, executive vice president at Verifone. “We believe merchants and consumers benefit from a more personalized and relevant experience at check out and offer a powerful and open platform to allow innovators like Visa to create those experiences at the last inch of commerce.”

“Equinox is thrilled to be part of Visa’s innovative sensory branding initiative,” said Rob Hayhow, vice president, Equinox Payments. “Our Luxe family of devices has been designed to take full advantage of this technology by putting the customer experience at the forefront of every transaction.”

Visa’s sensory branding is scheduled to be available as a software development kit (SDK) for iOS, Android, and Web solutions on the Visa Developer Platform on January 31st. Developers can visit https://developer.visa.com/ to learn more about integrating the features into their solutions.

As a presenting sponsor of NRF 2018’s Innovation Lab, Visa’s sensory branding will be showcased at NRF 2018: Retail’s Big Show in New York, where attendees can test the technology through an immersive, interactive demonstration. To explore how industry leaders like Visa are forging new frontiers in digital transactions, Visa CEO Al Kelly will discuss the future of commerce and payments at the conference alongside Karen Katz, president and CEO, The Neiman Marcus Group, Inc. and Jon Fortt, co-anchor of CNBC’s “Squawk Alley” on Tuesday, January 16 from 10:30-11:15 am ET. Additionally, Matt Smith, vice president of Visa’s Platform Strategy will be hosting a panel of retailers directly after the keynote on the Innovation Lab Stage with Chris Plunkett (CMT Group) at 11:30 a.m. ET.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisavisacorporate.tumblr.com and @VisaNews.

1 Nilson Report #1114, July 2017
2 IPG Lab 2017

Media Contacts:
Visa Inc.
Kryssa Guntrum
415-805-4488
kguntrum@visa.com

Source: Visa Inc.

Fraud Detect: First Data launches comprehensive fraud solution for merchants around the world

  • Fraud Detect strengthens line of defense for eCommerce, universal commerce, mobile, in-store, and at the pump fraudulent transactions
  • Leverages artificial intelligence and machine learning for real-time fraud scoring
  • In pilot test, Fraud Detect significantly reduced fraud risk for merchants

NEW YORK, 2017-Jun-02 — /EPR Retail News/ — First Data (NYSE: FDC), a global leader in commerce-enabling technology, today (JUNE 1, 2017) announced the launch of Fraud Detect, a comprehensive fraud solution for merchants around the world. Fraud Detect leverages artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, and information from the Dark Web to provide merchants with the capability to detect fraudulent in-store, at the pump, online, mobile, and in-app transactions before they occur.

Each year, First Data powers trillions of dollars of transactions around the world, including $2.2 trillion in 2016. Using artificial intelligence, Fraud Detect analyzes those vast datasets to identify fraud and potential chargebacks. In parallel, Fraud Detect incorporates data from the Dark Web, a collection of websites that exist on an encrypted network, to enhance the power of the solution with information that would otherwise only be viewed by cybersecurity experts.

In a recent pilot, Fraud Detect identified and prevented fraud that was undetected by other solutions in the market. Overall, merchants in the pilot saw lower false positive rates and an 80% improvement in identifying fraudulent transactions before they occurred. Fraud Detect also scored and assessed transactions in less than half a second.

Fraud Detect is available for businesses of all sizes and is applicable to a wide variety of industries, including retailers, restaurants, petroleum companies, and service providers.

“With Fraud Detect, our clients have seen an unprecedented reduction in fraud risk, while increasing payment acceptance and creating a better customer experience,” said Steve Petrevski, Senior Vice President, Security and Fraud Solutions at First Data. “First Data is giving clients an unparalleled line of defense across all commerce channels, allowing these businesses to enhance the way they interact with their own customers.”

Fraud Detect includes:

  • Dynamic, real-time machine learning so clients can respond quickly to evolving threats
  • World-class, enhanced, customized solutions for mid-market and enterprise businesses
  • A “turnkey” solution for small businesses to implement enterprise-quality solutions
  • Ability to customize settings to tailor to business needs
  • A reporting and analytics dashboard with near real-time analysis
  • Consultative client support to assist with implementation and training
  • Managed services offerings including fraud analysts and fraud program management

One key area for Fraud Detect is eCommerce. According to Aite Group, eCommerce fraud is expected to reach $5.9 billion by 2020, nearly double what it amounts to today. Consequently, merchants seeking to expand their businesses across online and mobile channels are increasingly vulnerable to eCommerce fraud risk.

“As consumers demand frictionless shopping experiences, clients are increasingly turning to First Data to enhance customer engagement with universal commerce,” said Shane Fitzpatrick, Global Head of eCommerce at First Data. “We are able to help our clients move into new channels and offer unique commerce functions, while helping to mitigate their security and fraud risk.”

“Merchants are expanding into new commerce channels, and they want technology solutions that protect their customers and reduce their exposure to false declines, chargebacks, and fraud,” said Julie Conroy, Research Director at Aite Group. “The technologies behind Fraud Detect and First Data’s ability to identify fraudulent transactions in real time will provide significant value to businesses around the world.”

In recent years, First Data has made significant enhancements and investments to its fraud and security offerings. With its unique internal alignment across the cybersecurity and security and fraud teams, clients benefit from the combined assets and resources of all of the businesses. Fraud Detect adds to First Data’s expansive fraud and security portfolio, which includes TransArmor for tokenization and encryption, EMV point-of-sale devices, including the Clover hardware and software solution suite, and the DefenseEdge product suite for financial institutions.

For more information about Fraud Detect, please visit our website.

About First Data

First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.

Media Contacts:
Liidia Liuksila
First Data
212-515-0174
Liidia.Liuksila@FirstData.com

Source: First Data

PayPal and Visa partnership to enhance payment experience online, in app and in store for consumers and merchants in Asia Pacific

Digital partnership will enhance the payment experience online, in app and in store

SINGAPORE, 2017-Apr-07 — /EPR Retail News/ — PayPal (Nasdaq: PYPL) and Visa (NYSE:V) today (April 4, 2017) announced an extension of their U.S. partnership in Asia Pacific that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants in markets throughout the region.

This partnership makes it easier for Visa issuing banks in Asia Pacific to offer their cardholders the ability to checkout anywhere PayPal is accepted online. It also expands the use of PayPal to retailers that accept Visa in physical locations.

The agreement is an extension of the strategic partnership between PayPal and Visa in the United States, announced in July 2016 and provides joint growth opportunities based on the following:

  • Customer Choice: PayPal and Visa will create a more seamless experience for consumers who choose to pay with their Visa card at retailers that accept PayPal. Through collaboration with Visa bank partners, consumers will be able to easily add Visa cards into PayPal from other banking apps.
  • Digital collaboration: Visa and PayPal agree to extend participation in the Visa Digital Enablement Program (VDEP). VDEP provides Visa’s partners with access to tokenisation technology, which enables payment on mobile phones or any connected device. This will expand the use of PayPal to retailers that accept Visa in physical locations.
  • Joint service propositions for emerging markets: PayPal and Visa will work together to expand access to enable the use of electronic payments in emerging markets in the Asia Pacific region.
  • Easier and faster access to funds: Visa will provide the option for PayPal to leverage Visa Direct (Visa’s push payments solution), allowing PayPal customers to move funds to their Visa accounts in real time across multiple markets.

“We could not be more proud of our extended partnership agreement with Visa in the Asia Pacific markets,” said Dr. Rohan Mahadevan, Senior Vice President for PayPal Asia Pacific. “This is a strong signal that our decision to partner in 2016 was the right thing to do for PayPal, Visa and our millions of merchants and consumers in this region. We look forward to partnering with Visa to offer more choice and better experiences together online, in app and in store within Asia Pacific.”

“Visa and PayPal are aligning our businesses to bring best in class payment services to the entire ecosystem,” said Chris Clark, Group Executive, Asia Pacific, Visa. “From emerging markets where we’ll give consumers greater access to electronic payments to driving more seamless ways to pay in developed markets, Visa and PayPal will deliver new commerce experiences across the region.”

About PayPal

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (Nasdaq: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s nearly 200 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PYPL financial information, visit https://investor.PayPal-corp.com.

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.

Contact:

PayPal
Yvonne Koh
YvonneKoh@paypal.com
+65 6510 6438
+65 8333 8718

Visa
Jillian Friant
jfriant@visa.com
+65 6671 5388
+65 9030 8381

SOURCE: Visa; PayPal

Visa Checkout now with 20 million enrolled accounts; More merchants join the Visa Checkout roster

  • Visa Checkout adds new merchants and markets as part of rapid expansion;
  • Samsung Pay agrees to integrate with Visa Checkout’s Open Platform

SAN FRANCISCO, 2017-Apr-07 — /EPR Retail News/ — Visa Inc. (NYSE:V), today (Apr. 6, 2017) announced that Visa Checkout, the easier way to use a Visa card online, is sustaining tremendous growth, reaching more than 20 million enrolled accounts. Visa Checkout enables millions of consumers to pay in just a few clicks on any device around the web with some of the world’s top merchants.

“Visa Checkout continues to simplify the online checkout process for consumers, while helping merchants increase sales and convert items in the cart to completed purchases,” says Sam Shrauger, senior vice president, digital solutions, Visa Inc. “Reaching 20 million enrolled accounts is a huge achievement and further affirms Visa Checkout’s purpose of bringing the trust and security of your Visa card to the evolving digital world.”

More Merchants Join the Visa Checkout Roster

As consumer adoption of Visa Checkout grows, so too does interest among brand name merchants in joining the platform. Among the merchants who have recently adopted Visa Checkout to improve their online shopping experience in order to increase conversion rates with additional customers include HSN, Alaska Airlines, Avis Budget, Cole Haan, Emirates Airline, FIFA, Marriott, Sam’s Club and Walmart. These new merchants join a growing list of 300,000 merchants, including Best Buy, Starbucks, Papa John’s and StubHub, among others.

“At HSN, we are focused on developing innovative solutions that result in an unparalleled shopping experience,” said Ryan Ross, EVP of Marketing, Digital Commerce and Creative for HSN. “The Visa Checkout integration helped to attract new customers and drive incremental sales across all our platforms as we continue to lead the future of Boundaryless Retail at HSN.”

Continued Expansion of Visa Checkout Around the World

In addition to reaching 20 million enrolled consumers, Visa Checkout is announcing it will continue to expand to new markets in 2017 with planned expansion to Kuwait, Qatar, Saudi Arabia and Ukraine. They join Argentina, Australia, Brazil, Canada, Chile, China1, Colombia, France, Hong Kong, India, Ireland, Malaysia, Mexico, New Zealand, Peru, Poland, Singapore, Spain, South Africa, United Arab Emirates, United Kingdom and the United States (and territories) as markets that will or currently offer Visa Checkout.

Visa Checkout and Samsung Pay Join Forces to Offer Consumers More Ways to Pay

Given the growing rate of eCommerce and mCommerce, merchants and consumers are looking for ways to further simplify the checkout experience. Last week, Visa and Samsung announced a joint partnership that will allow Samsung Pay users in the U.S. who link their Samsung Pay account with a Visa Checkout account to shop seamlessly at the more than 300,000 merchants that accept Visa Checkout.

This partnership is made possible through Visa Checkout’s open platform and streamlined set of APIs, allowing both consumers and merchants to experience the benefits. Consumers with fingerprint authentication-enabled Samsung devices will be able to click the Visa Checkout/Samsung Pay co-branded button and touch the fingerprint sensor, without entering their username and password. Merchants can continue to use their existing Visa Checkout integration and get the benefit of this partnership.

“We are very excited to be working with Visa to offer simple, fast and secure checkout experiences to millions of Samsung Pay users on their mobile devices or desktop,” said Injong Rhee, CTO of the Mobile Communications Business at Samsung Electronics. ”Our partnership benefits not only Samsung Pay users but also hundreds of thousands of online merchants who are looking for effective ways to increase their checkout conversion rates.”

The rapidly expanding list of merchants continue to make it easier for consumers to buy online, on any device, using Visa Checkout. For a list of some of the participating merchants, and to learn more about Visa Checkout’s benefits for merchants, issuers and consumers alike, visit www.visacheckout.com.

About Visa

Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit https://usa.visa.com/ and @VisaNews.

1 Cross-border transactions only in China

Contact:
Andy Gerlt
415-805-5153
agerlt@visa.com

Source: Visa Inc.

RILA: Repealing debit swipe fee reforms would once again allow the largest banks and card networks to impose outrageous fees on merchants

Arlington , VA, 2016-Sep-09 — /EPR Retail News/ — The Retail Industry Leaders Association (RILA) is urging members of the U.S. House of Representatives Financial Services Committee to vote no when the CHOICE Act comes up for a vote next week. The bill repeals reforms passed more than six years ago that brought fairness and competition to the debit card market.

Swipe fee reform, also known as the Durbin Amendment, passed the Senate in 2010 with 64 votes. The reforms require that the fees that banks and card networks charge every time a debit card is swiped are “reasonable and proportionate to the cost of processing the transaction.” Prior to the passage of reforms, card networks utilized their overwhelming market power to raise fees at will. Swipe fees are estimated to cost merchants and consumers $50 billion every year.

“Repealing debit swipe fee reforms would once again allow the largest banks and card networks to impose outrageous fees on merchants across the country, while hurting everyone outside Wall Street,” said Jennifer Safavian, RILA’s executive vice president for government affairs. “Make no mistake, the CHOICE Act’s central objective is to turn back the clock on reforms that brought fairness and competition to the broken debit card market. We urge members to recognize the importance of competition in the payments ecosystem and to oppose the CHOICE Act.”

Numerous RILA member companies were among the more than 400 companies that wrote House Financial Services Committee Chairman Jeb Hensarling and Subcommittee Chairman Randy Neugebauer (R-TX) this week urging that they withdraw their respective proposals to repeal debit swipe reform.

Swipe Reform Facts:

Banks Collected Most Debit Swipe Fees Ever in 2015
“A new study shows that the Durbin Amendment has yet to put a big dent into FIs’ total debit interchange revenue, with banks and credit unions amassing $18 billion in [debit] interchange in 2015—the highest total ever.”

Small Banks are Among Swipe Fee Reforms Biggest Winners
“There is substantial evidence that the ceiling did lower interchange fees collected by banks with assets above $10 billion, from around 44 cents to about 22 cents per transaction. But there was no such decline for small banks. Furthermore, after the ceiling was imposed, the volume of transactions conducted with cards issued by exempt banks grew faster than it did for large banks. Finally, Zhu Wang shows that interchange revenue fell substantially at large banks after the fee ceiling was imposed but continued rising for small banks.”

Swipe fee Reform Saves Consumers Billions and Creates Jobs
When debit swipe reform went into effect in October 2011, the average debit swipe fee on cards from covered banks dropped from 48 cents to 24 cents per transaction, saving consumers $5.8 billion in lower costs for good and services and saving merchant businesses $2.6 billion in 2012. The savings in turn supported 37,501 new jobs.

Free Checking Grows
According to the American Bankers Association (ABA), more Americans have free checking today than they did before the Durbin Amendment passed. In 2010, the ABA reported that 53% of consumers had free checking compared to 61% last year.

RILA is the trade association of the world’s largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

Contact:

Brian Dodge
Executive Vice President, Communications and Strategic Initiatives
Phone: 703-600-2017
Email: brian.dodge@rila.org

Source: RILA