Merchant

B2B space will have a permanent shift towards digitization, a desire for contactless experiences, and a greater need for efficient and reliable cash flow, according to Billtrust's Nick Babinsky.

An open, extensible platform is crucial to quickly discover and prevent automated attacks, and also to be able to immediately import these findings to their existing security infrastructure for log analysis and reporting, says Cequence Security's Matt Keil.

As merchants are challenged to adapt their business just to survive, and consumers push for greater control over where and how they spend, the payments industry is in a position to align the various needs, says Splitit's Brad Paterson.

Merchants will need to adopt practices to curtail the surge in chargeback activity and protect their businesses, even after the worst of the coronavirus outbreak is over, says Chargeback 911's Monica Eaton-Cardone.

The challenges may seem daunting, financial institutions and fintechs must focus on identifying meaningful opportunities based on the financial priorities of consumers and businesses to help them weather these difficult times.

Automation and technology allow lenders to handle an evolving situation that changes by the day: adjustments are easily made to terms, timing and required data for loan forgiveness, says PayNet’s William Phelan.

The security method offers real-time authentication checks to combat phony chargebacks, says PAAY CEO Yitz Mendlowitz.

Merchants should also monitor fraud by channel, to see how much each channel contributes to total fraud losses, Bernardo Lustosa of ClearSales says.

The coronavirus pandemic is driving a rapid increase in NatWest’s U.K. small-business merchant acquiring unit, with many being first-time card acceptors.

Checkout-free stores would seem to be the perfect fit for germaphobic shoppers during the coronavirus pandemic, but until now the model has been mostly experimental.

The sessions are interactive, and viewers can purchase products at any time during the session by clicking on a small product window and making a purchase with an app such as Alipay, says Azoya International's Franklin Chu.

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.

Retailers including Tesco Plc, Ikea and Amazon.com Inc. called on European Union regulators to crack down on credit and debit card fees that have increased after laws capped so-called interchange fees five years ago.

The coronavirus is accelerating contactless and digital payments, while upending traditional funding models for fintechs, says Sage's Pamela Novoa Ralli.

Contactless, mobile and a retreat from cash are just the start. The coronavirus will upend the entire payments process, said Icon Solutions' Simon Wilson.

Trends in China such as mobile payments, omnichannel shopping and social commerce show us what a post-coronavirus world could look like for brands and retailers in the U.S., says Azoya International's Franklin Chu.

Consumers like having different payment options, and not just a few, says RS2 North America's Daniela Mielke.

Large spikes in transactions and unusual payment amounts can be a response to the pandemic, not a sign of fraud, says Genpact's Manish Chopra.

While we all want to go back to the way things were before this pandemic struck, in the payments space, it is more about pivoting to the next normal.

A merchant’s payment provider can play a decisive role in determining whether the merchant is able to ensure business continuity during force majeure events, says Credorax’s Igal Rotem.