Mobile & Alternative Payments
Electronic payments are on the rise with consumers constantly seeking payment methods that provide greater convenience and benefits. In order to stay competitive and meet consumer’s demands, merchants are looking for new payment tenders, channels and partners that can enhance the customer experience and reduce the overall cost of a transaction.
Alternative and mobile payments are changing the payments environment and customer experience. These new payment options are expected to more than triple over the next three years. These new emerging payment options can offer merchants competitive pricing, security features, and in some cases, quicker funding.
While these new payment methods have many benefits, businesses also need to evaluate impact of these payment options on customer experience, technology integration, security, fraud management, settlement and reconciliation.
Optimized Payments Consulting helps clients understand, evaluate and implement these growing payment options.
EMV Payments are a global standard for credit and debit card transactions based on chip technology. The four major card networks have released plans to accelerate EMV migration into the U.S.
With the roadmap in place for EMV migration in the U.S., it’s important for merchants of all sizes to start planning for the conversion since migration to this new technology will be complex, costly, and time consuming.
Optimized Payments Consulting helps clients understand and explore options for EMV migration. Moreover, we help clients develop ROI analyses and business plans that can be used to garner organizational support for EMV conversation.