Security and data breaches pose a serious threat, potentially putting your business and customers at risk and decreasing customer trust. As fraud risks advance and become stronger, combating them can consume an increasing amount of time and resources, making payment environment security a primary concern for merchants. Technology and payment leaders know that fraud can […]
Payment fraud trends are constantly evolving, and even just one fraud attack can result in financial loss and reputational damage. According to Nilson Report, credit card fraud losses reached $28.58 billion worldwide in 2020 and are anticipated to reach $49.32 billion by 2030. The United States accounts for 36 percent of global credit card fraud, […]
Companies desire to expand into new markets by capturing more market share, access to new talent, and growing revenue. In some ways, the rise of e-commerce and mobile as key components of a merchant’s payment ecosystem has simplified how businesses approach market expansion. In other ways, the rapidly evolving payments landscape has led to increasing […]
Payment data is a key driver of business efficiency. Businesses need payment system data that offers insights into customers’ behavior and allows them to pinpoint any problems in their payment process. With access to this actionable data, they can monitor and adjust their payment systems to make improvements and gain a competitive advantage. However, disparate, […]
If you’re going to be in Nashville for the US Payments Forum Members Meeting, we’d love to get the opportunity to meet you and share with you our latest learnings in the payments space and how OLS Payments can help your business reduce costs, enhance security, and remove complexity from your payments environment.
Retail sales saw significant growth in 2021, with U.S. retail sales reaching $6.6 trillion, the highest recorded in a calendar year thus far. Unfortunately, rising sales mean more risk for fraud, higher returns, and increased business expenses. Moving into peak season for the retail year, we’ve curated best practices to help enterprises avoid mishaps with […]
The evolution of consumer payment preferences, new technologies, and a need for enhanced transaction processing security has led to increasing complexity in the payment environment. Recent fee increases initially announced in 2020 but postponed until 2022 due to the pandemic only highlight the need for an optimized payment strategy. Merchants need a powerful, flexible solution […]
Payment processing and settlements are inherently complex processes, and franchisee environments can add additional layers of complexity to the payment and settlement process. When funds for multiple franchisees are aggregated into a single ACH that is sent daily to the businesses’ corporate bank account, those funds must then be adequately accounted for and sent to […]
Any number of links within the transaction chain can cause payment processing outages. Processor outages, network issues, third-party systems latency and outages, and many other scenarios can bring POS interactions to a grinding halt, increasing customer frustrations and leading to cart abandonment online and in the store. To mitigate or eliminate the harmful effects of […]
Cardholder data protection is an increasingly important consideration within the payments environment. Electronic payment processing is complex and risk-inducing, with each new integration or payment type increasing payment system complexity and the additional security risk. When appropriately used, payment tokens can protect sensitive cardholder data and help retailers to create an authentic omnichannel experience. A […]