Michael Scheibach

Omnichannel: The Future of Payments

Mastering a single view of the merchant is the key.

By Michael Scheibach, Contributing Editor

Everyone understands that the payments landscape is changing . . . and changing rapidly. What may be overlooked, however, is the necessity for banks not only to understand the technologies underlying this landscape but also to alter their operations and focus to better serve their business customers, especially merchants. In other words, it is becoming increasingly important that banks provide their merchants with more efficient, secure and streamlined payment services.


Disruption Is the Status Quo

Payments Summit highlights next-generation technology.

By Michael Scheibach

If you are not familiar with the acronym FIDO, it’s time to learn. FIDO — Fast IDentity Online — consists of open standards for simpler, stronger authentication. As explained by Brett McDowell, executive director of the FIDO Alliance (, “With FIDO protection, you are totally protected against hackers.” In contrast, OTP credentials (i.e., one-time six-digit codes) go over the internet and can be compromised; and PAN, or primary account number, credentials are vulnerable to data breaches. The goal of the FIDO Alliance, said McDowell, is to reduce the reliance on passwords and enhance the protection against such threats as phishing, man-in-the-middle and replay attacks using stolen passwords — an important step to counteract the growth in card-not-present fraud, estimated to hit $5.6 billion by 2019.


Mobile Payments on the Move

Technologies are now in sync with consumer demand.

By Michael Scheibach, Contributing Editor

“Mobile payments will continue to grow in 2018 as they are a perfect product for the times,” writes industry analyst Michael Brown. “Given the rise of cryptocurrencies and the ever-growing shift toward a paperless society, mobile payments fit perfectly into both the present day and whatever financial future one might imagine.”


Security, Storage and the Cloud

Now’s the time to explore the benefits of the cloud.

By Michael Scheibach

Two years ago, a survey conducted by Netwrix, a data security company, found that financial institutions were not able to keep up with regulatory requirements and often failed to establish IT auditing and reporting processes in a timely and efficient manner. More alarming, 75 percent of respondents had partial or no visibility into their cloud and hybrid IT environments.


The Outside In Approach

Banks should enhance the customer digital experience for continued success.

By Michael Scheibach

Banking innovation is becoming increasingly essential as more and more consumers — from baby boomers to millennials to Generation X — raise their expectations for a seamless and agile customer journey conducted anywhere on any device at any time. A recent survey by DBR Research, for example, placed “removing friction from the customer journey” as the No. 1 trend in 2018.


  • Sign Up

  • Categories

  • Archive

Software: Kryptronic eCommerce, Copyright 1999-2018 Kryptronic, Inc. Exec Time: 0.069186 Seconds Memory Usage: 3.800606 Megabytes