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Improving the Holiday Returns Process With Transaction-Based Payments Tokenization

According to the National Retail Federation (NRF), consumers returned an estimated $428 billion in merchandise to retailers in 2020, approximately 10.6% of total U.S. retail sales in 2020. Following the 2021 holiday season, UPS says it is on track to process more than 60 million return packages between Nov. 14 and Jan. 22 – a 10% over last year. In addition, one in four Americans is expected to make a return.

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Your 2021 “Turkey Five” Payments Prep Recipe

Americans across the country will soon be feasting on turkey, green bean casserole, cranberry sauce and mashed potatoes. In preparation, families bring out their favorite recipes to share with loved ones and get all the ingredients they need for a successful Thanksgiving. And retailers need to do the same.

Thanksgiving kicks off the five biggest shopping days of the year – the Turkey Five. Ahead of the big event, retailers must have their payments processes in place to handle numerous transactions and ensure that security breaches don’t “wreak havoc in the kitchen.”

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Flexa Partnership Enables Seamless Digital Currency Acceptance

According to a study from PYMNTS, crypto ownership has been on the rise, up 63% year over year. The study also found that more than half of current or former crypto owners made at least one purchase with digital currency last year. Meanwhile, 59% of consumers who have never owned crypto are interested in making a purchase with it in the future.

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Top Payments Industry Trends of 2021, So Far

The payments landscape has shifted dramatically this past year. These changes were especially quickened by the pandemic as both merchants and consumers continued to look for alternative ways to safely complete transactions.   As Forrester analyst Lily Varon told Payments Dive, “The pandemic accelerated a lot of trends that were catching traction the year prior. […]

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Why Leading Merchants Choose OLS Payments: Enhanced Security, Cost Savings and Flexibility

For more than 20 years, we’ve worked hard to solve our customers’ challenges and helped them stay at the forefront of emerging payments technology. We understand merchants’ biggest payments challenges and look for solutions that add value to their businesses.

Recently, we shared a blog about how OLS Payments helps businesses add functionality and connectivity to their payments capabilities. Today, we’ll take a look at three other reasons why leading merchants choose OLS Payments as their payments orchestration solution – enhanced security, cost savings and flexibility. These are all key factors that are crucial to the success of a company and can make or break the bottom line.

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Why Leading Merchants Choose OLS Payments: Increased Functionality and Simplified Connectivity

Since its launch in 1996, OLS Payments has built long-term relationships with top retail, hospitality, healthcare, financial and technology providers globally. Our goal is to help merchants process existing and emerging payments in the simplest, most secure and cost-effective way. As a leading partner for global payments, OLS Payments offers software and services that empower clients to create payment ecosystems of the future. Merchants choose us because they can leverage one of the most powerful omnichannel payments orchestration engines in the industry to increase functionality and simplify payments complexity.

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Payments Tokenization Explained: How It Works and Key Benefits for Merchants

According to Nilson Report, credit card fraud losses reached $28.65 billion worldwide in 2019. On top of that, the U.S. is the most card fraud-prone country in the world, accounting for more than a third of the total global loss alone.

To combat credit card fraud, merchants need a foolproof way to make payments secure and protect cardholder data. They need to ensure that the data is never captured or transmitted within the systems in a human-readable format, no matter the payment method.