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In today’s world, smart devices are literally everywhere. From smartphones and smart watches to voice-controlled smart home devices and more, we are increasingly relying on Internet-connected devices to make our lives easier. One area where we’re seeing rapid growth is with smart credit card terminals.
When it comes to security in the world of electronic payments, Europe has been ahead of the United States in many ways for several years. The revised Payment Services Directive (PSD2), which sets stricter requirements for authenticating online payments, is another example of their innovation, at least regulatory-wise. While these mandates do not impact American banks, service providers and merchants from a legal standpoint, they definitely raise important points for the U.S. to consider.
COVID-19 has changed so many things about our world, from the way we work and interact with one another to how we buy and sell. It has also dramatically impacted those who sell credit card processing services.
In this episode of Clearent Connects, we do a quick update on COVID in the payment / small business space, including reopenings and PPP loans, as well as the increase of dispute claims and fraud and how that can affect your business.