Industry leader in risk prevention and management firm, Verifi, has been chosen to stand next to 14 others of the largest payment processors and service providers in the industry by joining the Direct Response Forum (DRF).
The DRF was founded in 1989, and is comprised of industry professionals from various entities dedicated to educate others like themselves about the payment card industry, most notably for card-not-present merchants. Today they announced that Verifi will join their advisory board and will contribute their knowledge to the understanding of risk and fraud issues within card-absent environments.
“The addition of Verifi to advisory board strengthens our ability to be on the forefront of global CNP innovations. Their award winning solutions help their clients process more than $10 billion a year in transactions and is highly regarded in the industry," Steve Wyatt, Executive Chair added on the new addition to the board.
Verifi joins the ranks of Digital River World Payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
Read this Term, Discover Network, First Data, Global Collect, JCB International Credit Card Co. Ltd, Litle & Co., MasterCard Worldwide, Retail Decisions Inc., TSYS Merchant Solutions, Vantiv, Visa, and WorldPay, all currently contributing to the board.
Security companies that are added to these kinds of boards and councils show the importance security and risk assessment management is to the payment card industry, especially for card-not-present environments.
Photo courtesy of Flicker
Industry leader in risk prevention and management firm, Verifi, has been chosen to stand next to 14 others of the largest payment processors and service providers in the industry by joining the Direct Response Forum (DRF).
The DRF was founded in 1989, and is comprised of industry professionals from various entities dedicated to educate others like themselves about the payment card industry, most notably for card-not-present merchants. Today they announced that Verifi will join their advisory board and will contribute their knowledge to the understanding of risk and fraud issues within card-absent environments.
“The addition of Verifi to advisory board strengthens our ability to be on the forefront of global CNP innovations. Their award winning solutions help their clients process more than $10 billion a year in transactions and is highly regarded in the industry," Steve Wyatt, Executive Chair added on the new addition to the board.
Verifi joins the ranks of Digital River World Payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
Read this Term, Discover Network, First Data, Global Collect, JCB International Credit Card Co. Ltd, Litle & Co., MasterCard Worldwide, Retail Decisions Inc., TSYS Merchant Solutions, Vantiv, Visa, and WorldPay, all currently contributing to the board.
Security companies that are added to these kinds of boards and councils show the importance security and risk assessment management is to the payment card industry, especially for card-not-present environments.
Photo courtesy of Flicker
