10 E-Payment Issues: A dive in to changes payment processors face

No doubt that many of you have heard e-payment terms like e-wallet, mobile wallets, EMV, etc., tossed around lately. All the terms can be hard to keep straight, let a lone know the definition of. So, we thought we would give you a peek in to one of the payment processing industry’s good magazine resources – Digital Transactions. DT recently published an article on the 10 Most Pressing E-Payment Issues, including…

1. Tokenization
When applied to data security, Tokenization is the process of substituting sensitive data with a non-sensitive equivalent, called a token.

2. Mobile Wallets
A form of payment, that replaces physical cash, check or credit card, preformed from a mobile device. Think Apple Pay on your iPhone.

3. Operation Choke Point
An initiative placed by the US Department of Justice to investigate banks in the US that do business with payment processors and other companies that may be involved in high-risk transactions.

4. Data Breaches
A release of secure information, such as cardholder data, to an untrusted party. Recent examples include the breaches of Target and Neiman Marcus’s customer card information.

5. EMV
Also known as Europay, Mastercard-Visa. This initiative, already used in European countries, will take hold in the US in October 2015. It enables better-protection of cardholder information  by storing it in dynamic microchips placed in credit cards, versus the traditional  magnetic stripe.

6. VAR Partnerships
Or Value-Added Re-seller Partnerships, is a path many payment processors are taking in order to make their services more valuable to merchants.

7. POS Trends
Or, Point of Sale trends. Read how the traditional form of in-store payments may be evolving.

8. ACH Trends
The National Automated Clearing House Association, which regulates ACH (when funds are transferred electronically), is looking to introduce same-day settlements.

9. Digital Currency
Digital Currency is a form of payment that is electronically created and stored. The most popular example is Bitcoin.

10. Sales Team trends
With so many technology changes in the industry, it is becoming more important to make sure sales teams are equipped with information on how to pitch different payment devices, separate from terminals, like mobile payment devices, e-commerce solutions and more.

Each topic enters a brief discussion of recent changes in those fields, what they mean for ISOs like EDPS and their merchants. Click here to read the article from Digital Transactions.

To request more information on how EDPS is staying up-to-date with these topics, or to inquire about our payment processing services, call 866.578.9740 or email

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on email