On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. At the time of writing, hundreds of thousands of lives and businesses have been affected. With multiple countries issuing bans on travel across borders and ordering shutdowns of cities and towns, many businesses are seeing the virus take its toll.
It’s now a cliché to say that payment options have evolved enormously over the past decade. Industry commentators have tirelessly traced the rapid and widespread adoption of contactless and digital payments, as well as the growing popularity of hybrid online and in store retail experiences like buy online and pick-up in store.
Payment Card Industry (PCI) requirements are a minefield of acronyms and, for many merchants, it can be difficult to understand exactly what they need to do to ensure they are compliant. In brief, the PCI standards are a set of security compliance frameworks that merchants must maintain in order to take physical and/or digital card payments either in store, online or on their mobile. Without PCI compliance, merchants will not be able to work with an acquirer and may also be fined by the card schemes such as Visa or Mastercard.
How can payment solutions be changed into a driver of sustainable development and corporate social responsibility (CSR)? While more and more companies in the retail sector are adopting solidarity rounding, allowing customers to make micro-donations when they pay, other solutions are also emerging to create social value from payment transactions, while reducing the carbon footprint linked to the purchasing act.
Having held several senior management roles at Ingenico ePayments, Mike Goodenough has been appointed as General Manager for the EMEA region. His appointment comes at a time when the payments landscape is evolving at breakneck speeds and it’s never been more important to stay ahead of the curve.
We spoke with Mike to learn about his strategic vision for the future of payments in this diverse region.