Who Will Lead And Lag In 2015?

Well, to really answer this precisely, one really needs to have their finger on the pulse of the hardware, software, processing and cross border dimensions of the payments ecosystem. So, PYMNTS asked Thierry Denis, President of Ingenico Group NA and Gregory A. Leos, General Manager, NA Global Collect e-Commerce Solutions (now an Ingenico company) for their views.

Here is a highlight of their predictions:

1) Security is a key driver in the payments business in the US. 

• Point-to-point encryption (P2PE) will likely be adopted by virtually all Tier 1 and 2 merchants.
• Combining P2PE and EMV to optimize security. Many Tier 1 and 2 merchants will prepare for the Oct 2015 EMV liability shift with a shortcut approach called “semi-integrated.”
• Tier 3 and 4 merchants will be unprepared for the October 2015 EMV Liability Shift

2)  Payments at the heart of the relationship between merchants and consumers. 

• The mobility momentum will increase point of interaction.
• Accepting consumers’  preferred payment methods will remain a priority for merchants to secure the sale. Many Tier 3 and 4 Merchants will however upgrade their systems to NFC/ Apple Pay.
• Many heated discussions around who owns the consumer data.

3) Leveraging the e-Commerce opportunity to expand business. 

•  The gold rush online is on, but where do we go and how  fast can we get there?
• In many international markets, mCommerce is driving overall online commerce growth.
• As merchants shift focus to international markets and mobile commerce, online fraud and chargebacks will become increasingly complex to manage.
• Big (payment) Data will continue to optimize payment performance.