Visa and Verifone create omni-channel partnership

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Verifone have joined forces with Visa in order to create an omni-channel platform, making payments easier for merchants and customers.

The partnership will focus on improving the purchase experience across digital and face-to-face channels. This will be done by integrating Verifone’s Point of Sale (POS) technology to a merchant payment management platform controlled by Cybersource, an e-commerce firm owned by Visa.

The Cybersource Verifone solution will be rolled out in the United States in September. The platform will enable merchants to perform a number of tasks, such as accepting cross-channel payments. Cybersource’s Decision Manager fraud detection radar will also provide Verifone merchants with extra security when making a transaction.

‘‘As consumers shop and pay in multiple channels, merchants are looking to integrate payment systems to facilitate a single view into their customers’ buying behaviors,’’ commented Andre Machicao, senior vice president, CyberSource.

Cybersource will also be taking advantage of Verifone’s technology. By combining its security platforms with Verifone’s security architecture, the two firms aim to decrease the amount of data breaches suffered regularly by merchants.

The collaboration follows a recent study taken by Cybersource which found that retailers have three overriding concerns when it comes to making payments.

The top concern among merchants is protecting customer payment data and managing fraud (59 per cent). Other worries include integrating new digital payments and legacy payment systems, as well as making it easier for customers to pay with online and mobile devices.

‘‘This announcement is about two industry leaders coming together to create that view for merchants so they can better serve and understand the needs of consumers globally, across all commerce channels, and without sacrificing security,’’ continued Machicao.

 

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