Exploring Invisible Payments

Ready to learn how Chargeback Gurus can help you protect your business from fraud and chargebacks? Schedule a demo with us here: https://hubs.ly/H0mgh-T0​​​ Invisible payments are becoming more and more popular as merchants seek to find ways for payments to be quicker and easier for their customers. Specifically, “invisible payments” refers to transactions that can be initiated and completed without any specific transaction-oriented interactions that we would normally associate with making a payment. Specifically, it eliminates the need for provide any additional credentials for authentication—the invisible payment system automatically recognizes and authenticates the customer, often with biometric data. This is an evolution from cash to cards to contactless payments and now to payments that don't require any sort of payment device. Some examples of these invisible payments include Amazon's system where the customer just has to walk out the door and Alipay's "Smile to Pay" system that uses facial recognition. Unfortunately, with new payment types and processes, new fraud tactics emerge. Because these types of payments have not had widespread use yet, it's hard to say exactly how fraudster will attempt to get away with their schemes. However, we do know that biometric data is very difficult to replicate, so this could relate to more security for these types of payments. It's important to make sure that you business is shielded from fraud and chargebacks with each new process that comes out. This is where a company like Chargeback Gurus can help your company develop a prevention strategy tailored to the needs and vulnerabilities of your individual business. Read the article: https://www.chargebackgurus.com/blog/invisible-payments ©Chargeback Gurus 2021 Production: Emily Woodward Narration: Phil Claffey