A number of payments industry leaders and security experts spoke with The Green Sheet recently to share insights, educational guidance and perspectives on how to stay safe, healthy and solvent during the coronavirus pandemic. Their common goal is to provide practical, actionable advice that will help people avoid becoming prey to fraudsters seeking to exploit new vulnerabilities at this time. Matt Nern, managing member and senior vice president at SignaPay, suggested that we address cybercrime in the same manner in which we are addressing the current pandemic. "Traditional treatment or the traditional way of managing risk isn't going to suffice," he said. "To get ahead of the curve, processors, banks and service providers need to enhance traditional tools they've typically used over the years with advanced technology and machine learning risk modules."
As the coronavirus pandemic continues, some folks are raising concerns about hygiene risks around payments. The European Banking Authority is urging payment services providers to make contactless payment options more widely available to European consumers and raise transaction limits to encourage usage. Meanwhile, the U.S. Payments Forum released Tips for a Cleaner Payment Experience. "Payments are an essential touchpoint for everyone," said Randy Vanderhoof, director of the U.S. Payments Forum. "This resource gives merchants and consumers practical steps to make payments as safe as possible in these day-to-day payment situations." For details, visit www.uspaymentsforum.org/tips-for-cleaner-payments/.
Due to the current pandemic, conference planners are pivoting to digital means for the health and safety of all involved. After postponing the in-person CNP Summit 2020, originally slated for May 19 to 21, Card Not Present organizers created the CNP Virtual Summit Series 2020. It is powered by advanced technology platforms and designed to keep businesses and career professionals informed and connected. The series zeroes in on how the coronavirus is affecting the industry and the impact of the new normal on digital commerce. Offerings include merchant-only meet-ups, educational sessions and a virtual solutions hall. Additional information about the virtual conference series is available at http://info.cardnotpresent.com/en-us/cnp-virtual-summit-2020.
On April 3, 2020, more than 500 payments professionals tuned in to the Merchant Sales Stimulus webinar, hosted by CCSalesPro, to hear CARE Act insights from The Green Sheet's senior editor Patti Murphy and Global Legal Law Firm attorneys Chris Dryden and James Huber. "The 2 trillion stimulus package will have a significant financial impact on 1099 agents looking for financial assistance, ISOs in need of capital and, of course, the small business clients we serve," stated James Shepherd, CCSalesPro CEO. "We will dive into the key elements of this stimulus package that affect your restaurant, retail and other small business clients, so you can point them in the right direction as they begin to plan for an uncertain future."
Following are excerpts from news stories recently posted under Breaking Industry News on our home page. For links to these and other full news stories, please visit www.greensheet.com/breakingnews.php?flag=previous_breaking_news. Retailers protest planned interchange changes
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