Visa, Verifone partner to accelerate omni-commerce globally

As part of the partnership, the companies will integrate industry platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems.

Managing payments across digital and face-to-face sales channels is a critical success factors for retailers as they seek to keep consumer payment data safe. This trend is confirmed by a recent study from CyberSource and Retail Systems Research, which reveals three payment concerns among retailers: protecting customer payment data and managing fraud (59%), integrating new digital payments and legacy payment systems (57%) and making it easier for customers to pay with online and mobile devices (52%)

Additionally, as the US shifts to EMV chip-enabled payments to help enhance consumer payment security and combat fraud, retailers are also deploying chip-compatible point of sale solutions. The CyberSource-Verifone partnership accelerates merchants’ ability to adopt more secure chip technology.

Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management gateway, placing a certified, cross-channel payment solution within immediate reach of merchants. Initially available in the US in September 2015, the integrated CyberSource Verifone solution will enable merchants to accept cross-channel payments and centralize transaction reporting to increase customer engagement, enhance marketing insights, and streamline payment reconciliation.

Moreover, it will mitigate online fraud risk via use of CyberSource Decision Manager, a fraud detection radar that applies over 260 fraud screens and includes insights from over 60 billion transactions processed annually by Visa and CyberSource. Decision Manager increases merchant fraud pattern visibility by 200 times. Combining CyberSource payment security solutions with Verifone’s Secure Commerce Architecture can help reduce exposure to data breaches, enable chip implementation and certification, and increase the speed of innovation at the point of sale.