Merchants to pick approach for future payment processing capabilities
28/06/2012 - By Alexander Galasso
Merchants are picking which capabilities they want as new payment processing systems emerge.
Canadian merchants may be behind their United States counterparts when it comes to online shopping, but they are further ahead when considering EMV-chip technology and mobile readiness. With the EMV adoption mandate around the corner and mobile payments innovations continually rolling out, U.S. merchants may not have much time to make a choice.
Many have been waiting for a leader to emerge before adopting a new point-of-sale terminal
. With this hesitation comes the hope that an obvious front-runner will steer mass deployment, so retailers invest in the best system.
“Issuers are at a crossroads, as they need to decide what technology approach to take with cards, and the need to look at both EMV and NFC is complicating the question,” George Peabody, director of emerging technologies for Mercator Advisory Group told ISO&Agent Weekly
However, a recent innovation may not require them to choose. The recently introduced payment processing
terminal synthesizes EMV capabilities, NFC-readiness, contactless and mag-stripe card readers, so merchants will be prepared regardless of the chosen solution. If, on the other hand, retailers already have a terminal they like and are subscribed to merchant services
, they can simply adopt additional tools to supplement their current solution as they become necessary.
Articles written by ChargeNational.com's editorial team. For more information, click here.
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