Convenience Store Decisions
Howard Riell | Nov 10, 2011 | 0 Comments
First it was PCI, now retailers have to prepare for the widespread launch of Near Field Communications, which is expected to become a widely used system for making payments by smartphone in the U.S.
By Howard Riell, Associate Editor.
The convenience store industry is increasingly turnings its gaze outdoors to the forecourt, not only for innovative marketing to help bring customers indoors, but for more effective ways to secure transactions. While securing transactions isn’t as sexy as splashy outdoor marketing and promotions, its long-term implications for operators must be looked at closely. For example, Visa recently announced plans to accelerate the migration to contact chip and contactless EMV chip technology in the U.S.
The adoption of dual-interface chip technology will help prepare the nation’s payment infrastructure for Near Field Communication (NFC) mobile payments by building the necessary network to accept and process chip transactions. The chip technology should also enhance payment security through the use of dynamic authentication. If payment card data is compromised, a counterfeit card would still be unusable at the point of sale without the presence of the card’s unique elements. Eliminating static authentication reduces the value of stolen cardholder data. Read More
