Hot topics

The payments industry is currently experiencing a period of rapid change. It is becoming far more complex and confusing. Payments used to be a niche and specialist field but now they have become mainstream and have high strategic importance. Thanks to the greater attention of fraudsters security protection has needed to be strengthened and this will be an ongoing task. Stringent compliance and certifications are the norms now demanded and we will have to get used to them.

We are seeing increased regulatory interest, challenges to the international card networks and the arrival of new entrants. There are new card technologies, transaction types and acceptance devices to be supported, plus a whole host of new alternative payment methods.

Here at STS, we keep abreast of all of these changes and continue to innovate. We help our partners and customers understand the changes, their issues and impact, and work with them to determine the most appropriate options to be pursued.

Here you can find our thoughts on some of the key hot topics. As an independent company we are able to offer an unbiased viewpoint. We welcome the opportunity to discuss these topics with you. Please do get in touch and let us know how we can help.

If, like me, you attended the recent Retail Solutions event in London you would have seen stands promoting contactless payments. I've reviewed this technology in its own right in previous newsletters and highlighting the benefits: speed of payment, zero cash handling costs for the merchant, convenience for the consumer, blah, blah.

Contactless payments was the hot topic at Retail Solutions this year, seen on stands as varying as Visa’s, Barclays as well as the hugely popular ‘Store of the future’ stand from Fujitsu (Radio One managed to omit that fact too and focussed on their excellent ‘does my bum look big in this’ mirror).

It seems that contactless is the word of the week in the payments industry, everyone is talking about it, but no one is quite sure what they are going to do about it, I guess everyone is waiting to see who jumps first.

I made three mistakes this weekend, the first was agreeing to go shopping with my wife, the second was opting to drive into central London on a drizzly day near Christmas and the third was entering one of London’s biggest department stores on a drizzly day near Christmas.