Securing transactions is the key to making payments invisible

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The most powerful technologies today are those where the processes behind this innovation are hidden or invisible to the consciousness of users. When done right, this top-notch technology is not only transparent, but creates time for users that allows them to focus elsewhere.

Get into ‘invisible payment’, which is exactly what Fortis (recently rebranded as FortisPay) is trying to offer the business world by making transactions easier, faster and hopefully going to the background. .

“Our goal at Fortis is to make sure that we can enable payments as smoothly as possible,” said Kevin Shamoun, Chief Technology Officer of Fortis, in an interview with PYMNTS. “We want to be invisible.”

Shamoun explained that this not only means making payments invisible to the end user or merchant, but also to the software vendors who integrate their solutions.

Read more: Fortis CEO: End-to-End Platforms Enable Software Partners to Enable ‘Invisible’ Commerce at Scale

It’s not easy, especially today at a time when digital payments have accelerated dramatically due to the coronavirus pandemic. Businesses now have a wide variety of payment options available to them, and indeed, they must adopt multiple options to meet the needs of the customers they serve.

One of the main challenges of accepting so many payment methods, if they are to be made invisible to end users, is ensuring that all of these transactions will be secure and compliant.

“This can be a dangerous thing to manage, especially for many software partners who don’t have anyone on their staff with the expertise and knowledge to do so,” Shamoun said.

Education and risk

Thus, a large part of Fortis’ role is to inform its customers about the different payment methods available and how they can be implemented safely.

“Coming out of COVID, you see a lot more cardless transactions. No more online transactions, phone payments from Apple Pay, Google Pay, etc. Shamoun said. “We get a lot of questions, like how do I activate acceptance of these types of technologies? What are the risks to which I am exposed? Is there a responsibility? So what we love to do is make sure customers understand what the risks are and, second, how to go about implementing the technologies properly. “

More like this: FortisPay acquires OmniFund to boost AR functionality

Fortis aims to completely remove the burden of these security risks from its customers and shift the responsibility for them onto its own shoulders.

“This is what we recommend [to our customers]Shamoun said. If we can allow them to accept payments in the e-commerce world and turn the blame back to the card issuer for fraud, that’s a huge win in some industries. “

Despite their lack of security expertise, Shamoun said customers are sometimes reluctant to let Fortis shoulder the burden for them. He recounted how a software vendor who previously used his services finally left and decided they would go their own way. He did not name the company, but very soon after leaving it suffered a major breach of its systems and quickly came back running.

“They finally came back to us and said, ‘Okay, hey, we’ve kind of learned our lesson. We should have listened to you guys, “” he recalls. “At the end of the day, it’s about doing business from a partnership perspective. We’re trying to educate and defend the software vendor and make sure they can implement technologies.”

Further reading: CFOs in a hurry to move beyond paper, process reductions with digital upgrades

Tools for software vendors

Fortis also ensures that software developers have all the tools they need to properly implement payments in their products. The company’s platform is primarily an application programming interface (API), Shamoun said, because it’s the easiest way to integrate and run business processing quickly and transparently. Another key advantage of Fortis is that it allows software vendors to access and obtain information about their payment data.

“Data is gold, so accessing that data in the payments ecosystem is also important,” Shamoun said. “If they have a very tight integration with their payment date, that only strengthens their systems.

It all boils down to making transactions invisible, especially to those who will be making those payments.

“If you look at it from an end-to-end point of view, the software vendor has customers and they want to accept payments from them,” Shamoun said. “So how do we get this merchant or business to sign up and get processing as smooth as possible?” This is what we are looking for, and we are delivering it today ”.

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NEW PYMNTS DATA: 2021 HOLIDAY SHOPPING OUTLOOK

On: It’s almost time for the holiday shopping season, and nearly 90% of US consumers plan to do at least some of their purchases online, up 13% from 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed more than 3,600 consumers to find out more about what drives online sales this holiday season and the impact of product availability and personalized rewards on merchant preferences.


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