With the higher adoption of the internet and technology, online shopping has become a new standard for shoppers of any age. Surprisingly, 2.14 billion around the world prefer purchasing their favorite products online. At the same time, global e-commerce sales are expected to reach $6.4 trillion by 2024.

To keep pace with the ever-changing customers’ demands, online businesses are migrating towards cloud-based POS solutions. A point-of-sale system is a valuable alternative to a traditional cash register. This tech-driven solution does more than increase your sales. You can handle your employees’ schedules, track inventory, and collect data for personalized business strategies.

Whether running an offline business, like a brick-and-mortar, or an e-commerce store, you need a modern POS system to take your business to the next level. You can only stay longer in the competitive business market if you alter your business strategies with market trends. Below, we will look at four point-of-sale (POS) trends to help you understand how your business can benefit from this cloud-based solution.

What is a POS System: A Brief Overview

A point of sale (POS) is a tech solution that enables merchants to run their businesses more efficiently by facilitating in-person transactions. The modern POS system goes beyond sales processing capabilities and offers the following advanced features:

• Reporting and Analytics
• Mobile POS Abilities
• Contactless Payment Options
• E-Commerce Integrations

In short, POS solutions work as a central hub for your business operations. You can track and monitor everything, from inventory management and payment processing to customer management. Due to their flexibility and powerful features, online retailers highly appreciate POS systems. Statistics highlight that the POS software market is expected to reach $18.1 billion by 2027.

Benefits of POS for Retailers

In online businesses, a modern point-of-sale system has become inevitable. It can benefit modern retailers in the following ways:

• It helps you manage your inventory with real-time data
• It makes payment processing simpler
• With POS, you can generate invoices and group them in the database
• It secures your customers’ data
• POS enables you to track your business growth with better reporting and analytics

Implementing a reliable point-of-sale system can be tricky. You can get help from professional POS developers to get the best output from your POS solutions.

4 Point of Sale (POS) Trends

The following POS trends will help you ring up your sales and collect better data for business intelligence:

1. Smooth Omnichannel Experience

An omnichannel approach integrates social, e-commerce, and in-person sales with a holistic view of customers’ relationships. Omnichannel experience is not a new concept, but POS enables merchants to give customers a seamless shopping experience across different touchpoints.

A POS system can help use an omnichannel approach in the following ways:

• Non-Linear Purchasing Paths

Today’s buyers prefer using a non-linear path to purchase a product. For example, a customer may learn about your products/services on a social media platform like Instagram or Facebook, browse through your storefront, and purchase from your website. A buying journey is extremely complex for both online and offline businesses. POS enables you to use an omnichannel approach, so your customers can get a satisfactory shopping experience across all channels.

• BOPIS (Buy Online, Pick-Up in Store)

BOPIS is also a rising trend in the business market. Buy online and pick-up in-store trends have reached $83 billion in US sales, which is expected to grow by $141 billion by 2024. This approach helps consumers shop for their favorite products online and come to the store to complete a transaction.

After the COVID-19 pandemic, 46% of retail executives plan to invest in omnichannel retailing. POS technology can help you accommodate complex buying behaviors, giving your customers an unforgettable experience.

2. A Personalized Shopping Experience

Personalization is the top priority of retailers. A survey highlights that 60% of the customers remain loyal to businesses that offer a personalized experience. More and more retailers are striving to give customers a personalized shopping experience. A report by Reporterlinker indicates that the global personalization software market is expected to hit $1.7 billion by 2025.

Adopting a POS system that can deliver a personalized shopping experience can benefit retailers in the following ways:

• Increased Product Prices

Customers are willing to pay more for a personalized shopping experience. You can increase your product prices by building a loyal relationship with your buyers.

• Improved Customers Satisfaction

As 71% of buyers expect businesses to deliver personalized interactions, POS can help you increase customers’ satisfaction by serving them with fast and reliable services.

• Collect Customers’ Data

Customers’ data is the most significant asset of any business. It helps you identify your target audience and their pain points. POS solutions encourage users to share data with retailers in exchange for several benefits. In addition, POS software collects valuable buyers’ data after the transaction, which can help you build customer personas.

3. Flexible Payment Options

Buyers want to access ever-expanding payment options. A point-of-sale system help retailers facilitate customers with flexible and alternative payment options. It allows you to accommodate the following additional payment options:

• Contactless Payments

Contactless payments have the new norm for merchants and buyers. It makes payment processing much easier and safer. By 2019, digital wallets accounted for 6% of POS transactions. You can integrate CashApp, PayPal, Google Pay, Apple Pay, and Venmo apps with your online store to give buyers excellent contactless payment options.

• BNPL (Buy Now Pay Later)

BNPL services, like Laybuy, Clearpay, and Karlana, enable consumers to purchase a product and pay monthly installments. A POS with installment payment options is ideal for buyers who don’t have any traditional payment options.

4. Cloud-Based POS Software

All the advantages of POS solutions heavily rely on system-sharing data. The different parts of the system sharing data are completed through the cloud-based servers run by the POS companies and accessed through the internet.

Cloud-based point-of-sale systems are a continuing POS trend. 29% of the retailer are planning to adopt cloud-based solutions by 2024. In addition, the cloud POS market is also expected to hit $6 billion by 2025.

Conclusion

A point-of-sale (POS) system is more than just accepting payments and ringing up sales. A modern POS system has added features that work as a central hub for your business operations. POS technologies have become inevitable for modern businesses due to their robust capabilities and features.

With an increase in online spending and new faster, easier ways to pay, companies should think again about payment technologies and ways to meet customer payment preferences. Rob Crutchington of Encoded shares his top five predictions for payments in 2023.

Buying habits and expectations have changed, with both customers and employees wanting quick access to information and easy ways to pay for what they want, when they need it. The pandemic saw a rapid rise in the demand for secure contactless payments both online and in store. These factors have put companies under pressure to deliver seamless digital experiences, with those that get it right having a distinct competitive advantage.

Looking ahead to 2023, here are five ways that payment technology will continue to underpin business success:

1. Apple Pay and Google Pay will further increase in popularity

New, innovative ways to buy both online and in store, in particular digital wallets, have made life easier for customers to complete purchases. Stored payment credentials, fewer clicks to purchase and pre-populated delivery information make it quick and easy to complete transactions.

Originally seen as an alternative to traditional ways to pay in-person, Apple Pay and Google Pay have now gained traction as a replacement payment method for cash, credit and debit cards and are set to increase in popularity.

2. Biometric authentication – the new payment preference

Biometrics are becoming an increasingly big part of our lives, from unlocking our phones to navigating passport control. Using biometric authentication is a natural fit for payments and delivers benefits to customers. It’s faster, easy to use and with no pins or passwords to remember it is secure in its uniqueness.

Customers choosing to pay using Apple and Google Pay on their mobile devices and authenticating with biometrics, means they can pay anywhere, anytime. As new forms of biometric authentication are introduced the technology is future proofed, eventually forcing other payment methods into retirement.

3. Hybrid working offers opportunities for solutions such PayByLink

The trend for remote working will continue to present security issues for contact centres. Having the right technology in place is vital to protect customers against fraud and provide reassurance that an agent’s home network and PC is secure.

Solutions like Encoded’s PayByLink can support customer journeys and provide all important security. By sending a secure, one-time use link to a phone, by email or WhatsApp, customers can pay at their own convenience, knowing their personal and sensitive card details are safe. It brings peace of mind to those nervous about mobile payments and it helps hybrid contact centres to manage transactions quickly and easily.

4. E-commerce will be fuelled by a digital first strategy

Having a digital first strategy will remain top of most agendas and we can expect to see a boom in e-commerce as a result. According to a recent report by Public First, digital technology could grow the economy by over £413 billion by 2030 – the equivalent of around 19% of the entire UK economy.

The Government’s Digital Strategy 2022 also recognises this, asserting that the UK’s economic future is reliant on “continued and growing success in digital technology. A digital strategy can open up different channels for the customer to interact with an organisation in multiple ways. Making it easy for customers to make enquiries or pay securely, in their channel of choice, is the way forward for successful business.

5. Specialised IVR

Interactive Voice Response (IVR) phone systems will continue to play a key role in the contact centre, but in a more specialised way. As a self-service option, they can provide 24/7 support for common problems.

This may be particularly useful for paying fines and or sensitive fees, where the payment can be handled without agent contact, preventing possible agent abuse. IVR can also prioritise vulnerable callers with specific needs who may prefer to speak directly with an agent rather than chat online. Two important examples as we enter a challenging year for consumers.

Although there may be economic uncertainty ahead, businesses will need to invest in delivering a positive customer experience for success.  While more payment options will be available to consumers as a result of the cost-of-living crisis and pressure on data requirements reliable, tried and tested solutions such IVR payments will always be required.

Meanwhile, secure, fast, payment solutions will be a key cornerstone for successful transactions that ensure customer loyalty and facilitate a healthy cashflow.

For more information on Encoded payment solutions and how they could support your business, visit: www.encoded.co.uk.

About the Author 

Rob Crutchington is Director at Encoded.

Encoded is a leading Payment Service Provider and pioneer of new and innovative secure payment solutions for contact centres.  Encoded offers a range of card payment solutions designed to help organisations comply with PCI DSS, GDPR and the newly introduced Payment Services Directive (PSD2).

Encoded’s solutions are trusted by many of the world’s leading brands including Samsung, Mercedes-Benz, BMW, LUSH and The Wine Society as well as a host of UK utility companies such as Green Star Energy (now Shell Energy) and Severn Trent Water.

Omni-channel solutions include:

• Agent Assisted Payments
• E-Commerce payments
• IVR Payments
• PayByLink – Mobile Payments
• Encoded Gateway Services

For more information visit www.encoded.co.uk.

The implementation includes 8×8 Secure Pay, an essential XCaaS component powered by PCI Pal, which provides an important layer of security and compliance for credit card payments over the phone.

Instead of call centre agents requesting card details, customers key-in payment details directly onto their phone’s keypad – maintaining the highest level of privacy for customers.

National Express services 21 million passengers per year in the UK and needed an integrated cloud communications and customer engagement solution capable of meeting their security and data privacy requirements, which weren’t met by their previous vendor.

Additionally, their contact centre agents, of which 80 percent work remotely, required a solution that was tightly integrated with their CRM system and able to accept secure payments over the phone without compromising privacy, regardless of where the employee or the customer was located.

Lawrie Neal, Salesforce System Administrator at National Express, LTD, said: “For us, it’s about having a better customer experience with tools that are intuitive and easy for our staff, regardless of whether they’re in the office or working remotely. 8×8’s integration with PCI Pal has been a game-changer for us. It allows us to provide an easy and secure experience for our customers while maintaining compliance with PCI data security standards.

“By choosing 8×8, we’ve been able to improve productivity and efficiency, reduce the time to resolve customer requests, improve payment security, and create an overall more seamless and enjoyable experience for our customers.”

8×8 XCaaS integrates cloud contact centre, voice, team chat, video meetings, and CPaaS embeddable APIs capabilities in a single-vendor solution. This provides National Express’ employees, contact centre agents, and administrative staff with a cutting-edge suite of cloud communications tools. These capabilities help to strengthen the employee experience and deliver optimal customer service, anywhere and on any device.

Furthermore, with the new 8×8 Agent Workspace, National Express’ contact centre agents benefit from a simplified interface to help them work faster and improve customer service levels. Seamless data synchronisation with Salesforce provides agents with context and a rich history of customer interactions to further improve customer satisfaction.

Darren Gill, Chief Revenue Officer of PCI Pal said, “We are delighted to work with our partner 8×8 to support National Express in maintaining PCI DSS compliance and securing payments. The company needed a solution that would not only enable its agents to accept payments over the phone when working in a hybrid environment, but would meet the company’s ongoing data privacy requirements. Since achieving these goals, the feedback we have received from National Express has been extremely positive.”

For more information regarding PCI Pal, visit www.pcipal.com, call +44 207 030 3770 to arrange a demonstration or follow PCI Pal on LinkedIn: https://www.linkedin.com/company/pci-pal/.

As contact centres embrace the world of remote and hybrid working, Rob Crutchington, Managing Director of Encoded, discusses how the cloud, open banking and the latest SCA regulations help protect the customer, agents and merchants when taking payments.

 The new world of hybrids

There has been a rapid change in recent years in how people live and work. Hybrid has become a new daily term. From increased demand for hybrid cars to the hybrid model of office and home working, now embraced by many organisations.

This shift to remote working across the board is supported by the data presented in the recent UK Contact Centre Decision-Maker’s Guide 2022, published by ContactBabel, which reports that 99% of UK contact centres expect some of their agents to be remote working. Another survey amongst 300 Contact Centre professionals conducted by Calabrio, a workforce optimisation solution provider, cites that workforce flexibility is now a necessity.

There is no doubt that a more dynamic work environment has benefits for employees as well as organisations. Contact centres report high levels of employee satisfaction with new working arrangements, alongside increased productivity, service flexibility and operational cost savings. According to the Calabrio report, 9 in 10 of the contact centres surveyed have half of the workforce working remotely since the pandemic (previously 1 in 3) and 85% will continue to work like this.

Increased demand on customer services teams also accelerated the introduction of new technologies such as chatbots and webchat. However, there is no doubt that talking to an agent remains the gold standard of service. Customers want to speak to a person if they have a complex issue or question or for the simple reassurance of personal contact. This is particularly true when dealing with payments. With so many instances of fraud being reported, many customers believe that talking to an actual person can help to minimise the risk of identity theft.

How secure is homeworking?

Having agents working from home can present security issues for contact centres. With fraud on the increase, how can customers be reassured that the agent’s home network and PC is secure? After all, they may be dealing with highly valuable personal identification information, which if it fell into the wrong hands, could have serious implications on a customer’s financial (not to mention emotional) wellbeing.

Organisations that have successfully implemented home working teams report that new technology and security awareness amongst agents is essential. Not only for collaboration with co-workers, but also enabling secure access to the CRM systems to collect and update customer data.

Security of data is something that many companies rely on agent training to manage, but it is important to have systems in place that protect the agent and the customer from theft. Fortunately, technology solutions are addressing these issues, from cloud-based applications that enable secure remote working, to payment solutions that protect customer’s conversations and card data.

Think Cloud first

Even before the pandemic, companies were starting to shift to the cloud. According to the recent UK DMG, 71% of UK contact centres now use one cloud-based application, with many planning to invest further in the technology. Cloud-based communications systems are more flexible, robust and secure than traditional on-premises solutions and don’t need additional IT staff or investment in expensive hardware.

Cloud solutions can provide the reassurance that customer card data is stored securely off site. It can also help companies meet PCI DSS compliance by helping to ‘descope’ the requirements.

A Fraud Prevention Platform helps combat Fraud

How agents manage payments during a call is important in terms of customer experience (CX).  Fortunately, there are technology solutions available that can facilitate and protect payments and ensure smooth customer journeys.

For example, if a transaction is declined, an agent can advise the customer that an additional level of validation is required. Using Encoded’s Fraud Prevention Platform card holder identity can be verified using a variety of validation methods, including 3D secure, which is an additional security layer used in e-commerce credit and debit card transactions.

As well as helping to combat fraud, it helps to increase the number of transactions processed, reduces the number and costs of declined payments (good for the customer and the merchant) and provides a positive customer experience.

Open banking opens up choice

Open banking, along with the different payment channels now available, has given customers real choice and control over how they pay. The great thing about open banking is that it helps customers manage and make more of their money by allowing secure access to their banking and other financial data, wherever they are. All of the firms enrolled in open banking are regulated, which means they can exchange information quickly and securely via open APIs while ensuring customer data is protected at all times.

Faster payments enhance customer satisfaction, but they are also essential for optimum cashflow, vital for any business. Encoded’s Gateway Services work with open banking, increasing speed and security of transactions. It bridges the gap between merchants and payment acquirers and banks.

When paying online, customers can enter their card details, which are submitted by Encoded’s solution via the least cost acquirer. As with other Encoded solutions, the Gateway helps meet PCI DSS compliance as it de-scopes the data. Adherence with PSD2 and Strong Customer Authentication (SCA) gives added protection to the customer.

 Trusted Payment Solution Providers ensure Compliance

There is no doubt that remote working is here to stay. For employees and customers this has given flexibility and choice, while for organisations this has meant changes in HR, operational and financial policies and processes.

Fortunately, technology provides the bridge between flexibility and responsibility. Working with trusted payment solutions from regulated providers helps with PCI DSS compliance and data security, protecting both the merchant/contact centre and the customer.

About the Author

Rob Crutchington is Managing Director of Encoded.

Encoded is a leading Payment Service Provider and pioneer of new and innovative secure payment solutions for contact centres.  Encoded offers a range of card payment solutions designed to help organisations comply with PCI DSS, GDPR and the newly introduced Payment Services Directive (PSD2).

Encoded’s solutions are trusted by many of the world’s leading brands including Samsung, Mercedes-Benz and BMW, as well as a host of UK utility companies such as Green Star Energy and Severn Trent Water.  Solutions include:  Agent Assisted Card Payments, E-Commerce Payments, IVR Payments, Mobile Apps, PayByLink Mobile Payments and Encoded Gateway Services.  For further information please visit www.encoded.co.uk

In 2020 there were an estimated 2.83 million people working in call centers across the United States according to Statista.com.

These facilities are the backbone of numerous industries’ customer service operations which rely upon these call centers and call center agents to ensure their customers are receiving the best experience possible. In an industry that employs millions and is also responsible for handling sensitive information for millions, security and efficiency are extremely important.

Call centers, especially BPOs, need top-notch security for PCI compliance. Agents cannot use or have mobile devices in their possession on the floor since that puts customer payment data at risk. Maintaining PCI compliance in a setting that strictly prohibits the use of cell phones can be incredibly difficult for organizations to do without the appropriate software in place.

The consequences of PCI non-compliance vary from monthly penalties which can range from $5,000-$500,000 to legal action that can result in the loss of revenue. An additional risk taken when PCI compliance is not met is reputational damages which can also greatly impact the organization’s bottom line.

In order for any call center that handles payment processing to be PCI compliant, multi-factor authentication is required. Because MFA is required, but mobile devices are prohibited on the floor, traditional MFA is not a viable option. Email MFA doesn’t meet the compliance standards required. Even if it did, emailing a PIN is insecure if a workstation is compromised.

Hardware tokens like Yubikey are expensive to purchase and replace. Employees have a tendency to forget or break their hard tokens, and with 150% annual staff turnover, assigning and de-authorizing the tokens takes too much time. BPOs need to deploy MFA, but until now didn’t have the enabling products or vendor partners to make it possible.

Twosense, a 100% software MFA startup out of Brooklyn, New York has been pioneering AI-driven biometrics, starting with the US DoD and then moving into Enterprise. Now Twosense is charging into the call center industry and is radically changing the game.

The Twosense software-only solution automates MFA challenges by using passive biometrics to authenticate employees and keep PII safe. Twosense can be deployed as either a browser extension (Chrome and Edge) or as a Windows agent. In either case, an organization can roll out the solution with minimal time and effort. This is ideal for Call Centers because it doesn’t require a phone or a hardware token and the software is installed on the user’s browser, workstation, or virtual machine.

This enables secured call center facilities to meet MFA/PCI Compliance standards without the need for mobile devices. Identity verification via Passive Biometrics prevents credential sharing, workstation misuse, and is unphishable. Reducing interruptions allows for agents to be more efficient, attentive, and serve more customers throughout the day.

To learn more please visit www.twosense.ai

About the Author

Isabeau Boody is Marketing Manager at Twosense.

Twosense automates the challenge-response of multi-factor authentication on behalf of its users so they can avoid frustrating interruptions. This allows IT departments to implement stricter and more secure MFA policies without sacrificing the user experience. Developed in partnership with the US Department of Defense,

Twosense uses machine learning to drive passive biometrics that can guarantee a user’s identity continuously throughout the day. For more information follow Twosense on LinkedIn.

Jared King, Co-Founder and CEO of Invoiced

It’s no secret that in business, customer obsession is the path to winning. As a founder of multiple companies, I’ve discovered, in particular, that deliberate, purposeful crafting of customer experience can help any business achieve its goals.

Furthermore, it’s the duty of everyone on the team to contribute to this endeavor, even those traditionally thought to be a step removed from the customer tribe.

But, let’s back up for a moment. For starters, what even is customer experience?

Customer experience (CX) is the focus of every single touchpoint a customer ever has or will have with a company or with the company’s brand. Every email, phone call, chat bot message, advertisement, purchase, etc., are all in focus for those managing a brand’s customer experience.

The customer-centric companies dominate today’s business-to-consumer (B2C) landscape, so much so that the media has latched onto this narrative and extolls the virtues of these brands. And we, as consumers, eat it up ourselves willingly because we like quality, convenient, and thoughtful brands. However, I maintain that such customer focus isn’t exclusive to the B2C domain, but can be leveraged to a phenomenal extent within the business-to-business (B2B) environment.

Why the CFO must have total CX buy-in

It’s in the B2B environment where the non-traditionally associated roles can really bring impact to CX, such as your brand’s Chief Financial Officer (CFO). Customer experience requires everyone at a brand to devote thought to it. What if I run into someone on the street from a company, and they treat me poorly? I will carry this sentiment about the brand moving forward.

The same goes for how I feel when I receive anything in the mail, electronically or otherwise, from a company. This is the moment where a CFO can provide his or her talents to a brand’s customer experience.

And here’s how:

Three ways CFOs can provide top-notch CX via the billing cycle

Billing, collections, and payment are integral parts of any business’ cash flow cycle. Cash flow is the proverbial king when it comes to running a successful business. When it comes to CX, the CFO must consider the following:

1. Billing provides an additional, hidden customer touchpoint to drive home a consistent brand experience

Does your brand’s billing experience properly convey the rest of the overall brand strategy? When customers open up that paper or online bill, there is one singular voice sharing information: your brand. Are the delivery, design, and presentation consistent with the rest of the brand experience? Is this pleasurable, or at least as close to pleasurable as receiving a bill can be?

Businesses must consider these questions when they’re developing their customer billing experience. First comes billing, and then comes collections, though. So, let’s take a look at collections next.

2. The collections process is a perfect time to showcase your brand’s empathy and win customer champions

Once billing has been solved, a CFO then must dictate how a collections process is designed and executed. The personal, empathetic messaging implemented here is again a final frontier for brand marketing–especially in a B2B environment.

As a B2B operator, you are uniquely positioned to understand what your counterpart, or your customers, are going through. Leverage this as an advantage to stand out amongst your peers.

Collections can be a frustratingly messy business. Companies often must engage in varying degrees of follow-up to get customers to take action and pay. If your customers are facing challenges that are making it difficult for them to pay, there may be a certain level of ire or sensitivity for those on the receiving end of payment reminders.

This is the perfect opportunity to step in with an empathetic message that will leave your customers feeling valued and respected which further bolsters brand goodwill. Additionally, how much control does the brand have over those reminders, and do they match the experience across the rest of the customer’s journey?

Next up on said journey? Payment.

3. The seminal moment: tendering payment

So a brand has thoughtfully issued a bill and followed up with care, we’re well on our way to a superior CX experience. Now, however, is the seminal moment: the customer is ready to tender payment.

Businesses need to obsess over their ability to accept payments. How frictionless is this experience? Making payments as easy as possible enables the CFO to further leverage cash flow where and when it’s needed. Payment is the most important CFO-owned CX opportunity— because it’s when the customer hands over their hard-earned money for the products or services that they’ve been provided.

This moment should be as absolutely frictionless and simple as possible. Of course, that means offering online bill payment, but just because online payments are available doesn’t mean the payment isn’t a cumbersome, aggravating, or antiquated process for customers. Make it not just easy but virtually effortless. Customers will like easy, but they will love effortlessness.

The Winning CFO Must Consider Customer Experience

As the CEO of Invoiced, a B2B software brand that supports businesses with billing, collections, and payment acceptance, I firmly believe that everyone at a company (B2C or B2B) has the ultimate duty to serve our customers, the CFO included.

Should the CFO have the same degree of obsession with CX as others on the team? This could be debatable as the CFO’s primary focus is cash flow which is the lifeblood of an organization. However, as I’ve detailed above, a properly CX-inclined CFO can better manage cash flow as he can secure payment faster and more reliably. CFOs can be integral members of the CX team of an organization and should empathetically think about the customer’s journey.

About the Author

Jared King is Co-Founder & CEO of Invoiced, the category-defining company in the field of A/R automation. Jared built Invoiced from a small bootstrapped startup to a thriving global platform that now serves the billing and collections needs of more than 20,000 businesses in 92 countries and processes more than $2 billion in client receivables every month. Because of Invoiced’s scale and success, Jared has a uniquely valuable vantage point for how cash management, business process improvement, and technology come together to help companies get paid faster, waste less time on collections and provide better payment experiences for their customers.

For customers to buy from an organisation either in person, online or via a contact centre they need to be confident that their payment cards will not be compromised, their personal details are secure and their identities cannot be stolen. 

PCI DSS was created to protect consumers and merchants against security breaches.  Robert Crutchington at Encoded explains why it pays contact centres to be PCI DSS compliant.

PCI DSS stands for the Payment Card Industry Data Security Standard, developed by Visa®, MasterCard®, JBC®, Discover® and American Express®.  It is made up of 12 requirements designed to secure business systems that store, process or transmit card holder data.

As the stakes are getting higher with millions of pounds being lost as a result of card fraud PCI DSS is enjoying a well-earned revival.  Earlier this month a London student was sentenced to 22 months in prison for sending out scam text messages.  This followed an investigation by the Dedicated Card and Payment Crime Unit (DCPCU), a specialist City of London and Metropolitan police unit funded by the banking and cards industry[i]. Officers found the student’s digital devices contained personal details from hundreds of victims while a large quantity of cash was found at his home address.

Many merchants believe if they don’t take payments over the phone then PCI DSS doesn’t apply to them.  However, the regulation applies to card payments made over all channels, including in store and online, to prevent personal details falling into the wrong hands.

What’s the price of non-compliance?

Failure to meet PCI compliance and protect customer data adequately can result in financial penalties and charges, reputational damage and loss of customer trust, as well as potential stolen customer funds or identity. You may also be subject to possible legal costs, settlements and judgements.

In contact centres the most effective way to be PCI DSS compliant is to introduce clever behind the scenes technology.  For example, the latest Agent Assisted Payment systems from Encoded allow contact centre agents to process card payments without being exposed to sensitive card data.  While PCI DSS compliance can be seen as expensive and complicated to implement, working with the right payment service provider will make it your friend and keep you and your customers, safe.

To learn more about PCI DSS visit Encoded.co.uk and download the Truth about PCI DSS Compliance ebook.

Rob Crutchington is Managing Director of Encoded and to read more on PCI DSS  please visit Encoded.co.uk.

As millions of pounds are lost to Coronavirus scams, the Payment Card Industry Data Security Standard (PCI DSS) is enjoying a well-earned revival.  Rob Crutchington shows how to drive compliance and build customer confidence using Agent Assisted Payments.

According to UK Finance, card payments accounted for half (51%) of all payments in the UK in 2019 while consumer use of credit cards rose by 7% to 3.3 billion payments over the same period.  Fortunately, these trends in payment habits have proved invaluable during lockdown when record numbers of consumers rely on debit or credit cards to pay for essential shopping.  Unfortunately, the COVID-19 health crisis has also highlighted the darker side of human nature with credit card fraud surging 35% and reports that £4.6 million has already been lost to coronavirus-related scams since lockdown started.

If these alarming statistics are anything to go by, widespread consumer fears about the vulnerability of sensitive card data are fell-founded.  Contact centres should take charge now, reassuring customers that it’s safe to make card payments by getting back to basics and embracing the functionality of secure Agent Assisted Payment solutions.

Back to basics with PCI DSS

Even though the first version of PCI DSS was introduced a long time ago (December 2004) the international standards framework still matters for three simple reasons:

• Worldwide weapon against a global threat – the ultimate aim of PCI DSS of reducing the incidence of card fraud and promoting best-practice in information security is now more important than ever before.

• Strict rules, punitive actions – it’s a violation of PCI DSS to record or store any CAV2, CVC2, CVV2 or CID codes after authorisation even if that data is encrypted.  Failure to comply means hefty penalties and we all know there’s no greater incentive to follow the rules than a severe dent in the pocket.

• Trust across the entire payment ecosystem – PCI DSS affects everyone from the contact centres offering card payments to their partners, suppliers and customers.  The simple truth is organisations that have successfully achieved PCI DSS compliance are more likely to choose their third-party service providers carefully, conducting proper due diligence and risk analysis to establish whether they have the right skills and experience to deliver secure automated card payments.  This triggers a snowball effect to raise standards all round.

Introduce clever technology behind the scenes

Once re-acquainted with the importance of PCI DSS, why not introduce technology that enables PCI DSS compliance?  The latest Agent Assisted Payments allow contact centre agents to process card payments without being exposed to sensitive card data.  After the customer has used their telephone’s touch-tone keypad to tap in their card details, all an agent sees on their screen is whether the payment has been approved or declined.

Look for a partner who is Level 1 PCI DSS accredited, which means you and your customers can rely on their technology with absolute confidence.  They should offer Agent Assisted Payment solutions that are carrier, phone and CRM system agnostic so they integrate seamlessly with your existing contact centre infrastructure to enable real-time reconciliation of payments, maintain ‘business as usual’ contact centre operations, even when working remotely and deliver a joined up and exceptional customer experience (CX).

Three ways to use Agent Assisted Payments:

1. De-scope your contact centre – for PCI DSS compliance purposes.  Implementing Agent Assisted Payments significantly reduces the time, cost and resource required to complete PCI DSS Self-Assessment Questionnaires (SAQs) for a company to become PCI compliant.  In fact, of the controls covered in version 3.2.1 of the standard, Agent Assisted Payments places 51% completely out of scope and 30% of the remaining controls are heavily reduced.

2. Offer Tokenisation – for multiple payments, recurring payments or returning customers, Agent Assisted Payments linked to tokenisation enhance CX.  Tokenisation is the innovative process that allows contact centres to be outside PCI DSS scope, as no real cardholder data enters the environment and makes it a less attractive target for data hacking and stealing data. Meanwhile, returning customers are not required to enter card details over and over again.

3. Educate customers about the value of PCI DSS – the chances are that most customers will have heard about Verified by Visa, 3D Secure or MasterCard SecureCode but draw a blank at PCI DSS.  The beauty of Agent Assisted Payments is that contact centre agents can continue to talk to the card holder throughout the entire payment process.  This gives them the opportunity to talk about the important steps their organisation is taking to keep customers’ card details safe.  They can also introduce new ‘accessible for all’ technologies such as virtual terminal payments specifically designed for disabled or elderly customers who may feel embarrassed when they cannot use traditional automated payment systems and prefer the human touch.

Now is the time to renew your acquaintance with PCI DSS and use Agent Assisted Payments to drive all-round compliance.  Learn how to bridge the gap between providing personalised CX and enhanced security, while significantly reducing the time, cost and resource required to comply with stringent PCI DSS rules.  Visit www.encoded.co.uk

About the Author

Rob Crutchington is Managing Director of Encoded.

Encoded is a leading Payment Service Provider and pioneer of new and innovative secure payment solutions for contact centres. Encoded offers a range of card payment solutions designed to help organisations comply with PCI DSS, GDPR and the newly introduced Payment Services Directive (PSD2).

Encoded’s solutions are trusted by many of the world’s leading brands including, Samsung, Mercedes-Benz, BMW, Müller and Virgin, as well as a host of UK utility companies such as Green Star Energy, Severn Trent Water and Anglian Water.

Omni-channel solutions include:

• Agent Assisted Card Payments
• E-Commerce payments
• IVR Payments
• Mobile Apps
• PayByLink Mobile Payments
• Virtual Terminal Payments

For more information visit www.encoded.co.uk

As fears over coronavirus fuel a sudden spike in contactless transactions, Rob Crutchington explores the vital role of IVR to deliver fast, secure card payments that boost agent performance and customer confidence.

IVR or Interactive Voice Response, the automated technology that answers incoming calls and provides instructions to customers, has been an essential part of the contact centre toolkit for many years.

In recent times, the same technology has been instrumental in boosting consumer confidence when it comes to paying household bills or purchasing goods from favourite brands using debit or credit cards.  Quite simply, IVR Payments allow customers to make payments by entering their card data via touch tones – at any time of the day or night – without speaking to an agent or accessing a website.

Now it appears that fears over coronavirus are fuelling a rush for contactless payment methods as never before. According to financial services and information management consultancy Futurist Group, about 38% of consumers now see contactless as a ‘basic need’ feature of payments, up from 30% a year ago.

On the other hand, the percentage of consumers saying they don’t need contactless payments has fallen from 41% in March 2019 to 33% in March 2020. More card payments translate into more opportunities for IVR to gain celebrity status in the world of self-service contact centre payment technologies.

While there are plenty of IVR payment services on the market, the best solutions align closely to an organisation’s business systems to offer customers a smooth transaction process and frictionless customer experience. Let’s take a closer look:

What are the benefits of IVR payments?

1. Secure self-service payments

Customers expect a speedy check-out service without their card details falling into the wrong hands.  The latest IVR payment solutions allow contact centre users to enter their debit or credit card data via touch tones any time of day or night, quickly and securely.  When looking for new technology, rather than choose a vanilla software vendor which may sell you a solution and leave you to it, consider a partner that will work with you throughout the compliance process.  Look for a vendor which is happy to advise and educate while offering solutions that will help your contact centre to comply with the latest PCI DSS or GDPR legislation and the newly introduced Payment Services Directive (PSD2).

Choose an IVR payment solution that can authenticate callers prior to taking payments either via a unique number like an invoice or customer reference.  Then, shortlist those that integrate easily with in-house telephony, accounting and CRM systems.  This means agents are able to deal with more customers and spend less time on taking payments.  While customers feel secure in the knowledge that their card details are kept away from prying eyes and ears.

2. Reduced processing costs

IVR payments cost a fraction of transactions handled by a human agent.  According to contact centre analyst ContactBabel, the average call into a contact centre costs an organisation over £4.  Whereas an IVR payment can be just a matter of pennies.  This automated method of payment is also perfect for companies which experience seasonal spikes in calls, normally requiring temporary staff or costly overtime.  Encoded for example only charges for successfully processed transactions.

The latest advances in IVR including text-to-speech options for multiple languages, mean that modern IVR solutions give customers the opportunity to choose between self-service and talking to a live agent.  Either way, costs can be reduced and the customer experience enhanced.

3. Integration and flexibility

As a result of the recent COVID-19 pandemic and an increase in the number of people working from home and MOTO (mail order/telephone order payments), IVR payments have grown in popularity and importance.  They work for both customers and remote-workers as they are accessible from anywhere whether in the office, at home, across time-zones, providers, carriers and telephony systems.  Using one single solution, organisations can streamline their critical payment processes by centralising their IVR payments across multiple contact centres while linking to multiple CRM systems to enhance customer service.

Now is the time to embrace IVR payments to deliver round-the-clock business operations, enhanced security and personalised customer experiences while shaving all-important pounds off the corporate budget.  As consumer demand rises for secure, automated card payments and increasing numbers of staff are working from home, it’s easy to see why IVR payments still matter.

About the Author 

Rob Crutchington is Managing Director of Encoded.

Encoded is a leading Payment Service Provider and pioneer of new and innovative secure payment solutions for contact centres. Encoded offers a range of card payment solutions designed to help organisations comply with PCI DSS, GDPR and the newly introduced Payment Services Directive (PSD2).

Encoded’s solutions are trusted by many of the world’s leading brands including Samsung, Mercedes-Benz, BMW, Müller and Virgin, as well as a host of UK utility companies such as Green Star Energy, Severn Trent Water and Anglian Water.

Omni-channel solutions include:

• Agent Assisted Card Payments
• E-Commerce payments
• IVR Payments
• Mobile Apps
• PayByLink Mobile Payments
• Virtual Terminal Payments

For more information visit www.encoded.co.uk