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Posted: Jul 26, 2016
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Author: Bill Lehman
Walmart Pay has joined the burgeoning list of “Pays” – mobile payment apps – and has quietly made its way from its launch in 2015 to now be accepted in every Walmart store (over 4,600 locations) in the U.S. And early reports show that 88% of transactions processed through Walmart Pay are from users who previously used the app, meaning high satisfaction. Contrast this with Apple Pay’s low repeat usage rate – one-third of all Apple Pay users don’t use it a second time. Walmart Pay, which is actually a component of the Walmart mobile app, works with any credit, debit, prepaid (and of course) Walmart card, and allows payment at checkout by opening the app and scanning a QR code.
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Posted: Jul 22, 2016
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A follow up to previous TPR article on this topic

Fraud continues to be the number one reason why a cardholder moves a card from top of wallet. And fraud isn’t cheap, costing the issuer in liability for the fraudulent charges plus the cost of reissue.  Additionally, there is the potential of lost revenue from the card being moved from the number one position in the cardholder’s wallet.

A previous thought leadership article on ThePaymentsReview.com introduced the concept of putting the cardholder in the middle of the transaction, meaning enlist the cardholder to take ownership of monitoring card purchases and respond quickly to potential fraud.

A shining example of success implementing this strategy took place over the 4th of July weekend. FIS, CSCU’s processing partner and international provider of financial services technology and outsourcing services, rolled out a new product, SecurLOCK Communicate.  The product alerts credit and debit cardholders of potential fraud in real time via a two-way interactive text message (SMS), or a voice call, or an email.

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Posted: Jul 12, 2016
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Author: Barney Moore

Chargebacks to merchants have become a hot topic of late. And for good reason. According to a recent report by First Annapolis Consulting, chargebacks for card-present transactions increased 50% following the October 1 EMV liability shift.  While this took merchants by surprise, it did not surprise issuers who, until the October 2015 liability shift for chip cards processed at card-present non-chip terminals, were absorbing the cost of fraud for counterfeit cards. Now issuers are allowed to chargeback, or pass back the fraud to the merchants who were not processing chip cards.

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Posted: Jul 5, 2016
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Author: Lou Grilli

Following the switch to EMV chip cards last October, merchants that implemented chip card readers at the check-out lanes noticed something besides the initial confusion – that the time to process a transaction was taking much longer versus a simple card swipe. The time varied greatly by terminal type, but a study carried out by JDA Software Group claimed that it took an extra 8 – 12 seconds per checkout. In the retail world, those are precious seconds that can drive cost for extra labor to open additional check-out lanes.

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Posted: Jun 22, 2016
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Author: Bill Lehman

When standing in front of the payment terminal at the checkout line, the payment method chosen (credit, debit, cash, PayPal, check, etc.) really depends on the location and context of the transaction. In a study of 1000 consumers who carry both a credit card and a debit card, TSYS, a leading merchant payments processor, uncovered some consumer trends which can be anecdotally witnessed when in the checkout line. When shopping at a supermarket, 50% reach first for a debit card, while only 31% reach for a credit card.

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