If January is any indication, then 2016 will be an active and unpredictable year for payments. Although much of the month was spent reviewing 2015 and putting the holidays to rest, payment technologies and innovations didn't stop. We gained further insights into emerging trends and payment types, security remained a huge concern and the rest of 2016 became a little clearer as consumers and businesses returned to normal, everyday procedures.
 
Let's take a look at some of the biggest payment headlines and stories from January 2016.

Security

Wendy's Investigates Credit Card Breach: KrebsOnSecurity recently reported that Wendy’s was investigating reports of a credit card breach. The fast food chain was made aware of potential problems from banks in the Midwest, but the news source also confirmed that there were additional claims from the eastern part of the U.S. More information will follow as Wendy’s completes its probe on how widespread the apparent breach was.
 
IT Voices Concerns Over Payment Security: A survey of over 3,700 IT professionals reveals that many don’t feel enough is being done at their companies to protect customer payment data. On behalf of Gemalto, the Ponemon Institute found that 54 percent of respondents claimed that payment security isn’t in the top five of security issues for their companies. Even more troubling was that 74 percent said that their companies either don't comply with PCI DSS standards or only meet certain criteria.

Mobile Payments

Consumers Concerned About Mobile Security: The Pew Charitable Trusts dove into consumers’ opinions of mobile payments and found that security was one of their leading concerns. That said, the people who were most fearful of security issues were ones who suffered from fraud or knew someone who had an issue. Regardless, improving security would go a long way towards helping consumers go mobile.
 
Getting Started with Mobile Payments: ITProPortal has published a guide on how businesses can start accepting mobile payments, and whether they should do so. Noting that the payment type has been around for years and that there’s a growing demand, the news source helps crystalize what owners need to know about mobile in order to better serve their customers.

EMV

EMV Helps Businesses: According to Payment Week, the shift to EMV in the U.S. will help businesses secure their payment data and improve their POS. As everyone looks to negate fraud and breaches, chip cards may be the best solution to keep sensitive information out of hackers’ hands. 

 

​​This Month in Payments: January 2016