Building Customer Loyalty in the Digital Age

June 2, 2015

US companies annually spend $2 billion (yes with a “B”) on customer loyalty programs. Does this translate, however, into customer engagement?

A recent study by Capgemini Consulting reports that retailers have a lot of catching up to do when it comes to engaging today’s digital age- consumers. For instance — 76% of retailers fail to allow mobile redemption for loyalty programs.

According to Capgemini’s Mark Taylor, “The mobile device should be at the HUB of a customer’s relationship with a retailer.

Read the entire report — “Fixing the Cracks: Reinventing Loyalty Programs for the Digital Age — HERE.

View the Infographic — HERE

loyalty puzzle image


Are YOU EMV-Ready?

May 14, 2015

EMV- payments are coming, and they’re coming soon! The EMV liability deadline hits October 2015.

EMV is a joint, international effort between the card brands to increase card and cardholder security. Rather than relying on card magnetic-stripe technology (which is the same technology used in cassette tapes), EMV payments use “smart” or “chip” cards. The new cards encode a user’s account information in the embedded chip, which generates a unique, one-time code for each sale. This prevents the data from being stolen and used to create counterfeit cards.

Rather than swiped, smart cards will be entered into the terminal during a transaction. Consumers will also have to either a sign a pin pad or enter a PIN to complete a transaction. This all means that existing swipe terminals must be upgraded to EMV-compliant equipment in order to take advantage of the new security measures.

EMV Deadline — October 2015

The October 2015 Fraud Liability Deadline means that there will be a change in financial responsibility if a fraudulent transaction takes place. Merchants who experience fraud or chargebacks while using a non-EMV processing equipment will assume the liability for those transactions.

EMV Readiness Resources

As the deadline approaches, EMV education efforts are ramping up. Here’s a look at the ones we think are most helpful.

GoChipCard.com addresses the basics of how to identify and use a chip-enabled terminal, how to slide EMV cards into the readers and, most importantly, not to remove the card until prompted to do so.

SellSafeInfo.org was recently launched by the Electronic Transactions Association to help protect both merchants and consumers. The site is a one-stop information resource for merchants about today’s payments landscape.

emv-connection.com provides up-to-date information for all industry stakeholders on the status of EMV migration, along with tutorials and educational resources that will assist with migration.

Visa online EMV toolkit includes a step-by-step guide to adopting chip as well as videos, infographics, and other resources to help merchants make the seamless transition to chip-activated terminals.

Chip 360 from MasterCard is a campaign that aims to communicate actionable information, educate on steps to take and advocate why the change is needed to protect cardholders

Learn about EMV and chip cards with frequently asked questions from Discover Card and American Express.

Don’t Wait Until It’s Too Late

OMEGA Processing Solutions can upgrade your processing equipment to EMV-compatible terminals today at little or no cost. Contact your Account Executive or our Customer Service Center at 866.888.9724 Ext. 7 for more details.

emv cards


Consumer Confidence Up. Electronic Payments Drives Consumer Spending.

April 8, 2015

Comeback consumer spending image

The Electronic Transactions Association (ETA) and Strawhecker Group (TSG) recently unveiled their latest economic indicators infographic. The news is very positive — Consumer confidence, unemployment and GDP all experienced positive performance in 2014 and Q12015.

The research also points out the importance of the payments industry to the U.S. and global economy. Consider these facts:

  • Consumer spending represents 70% of GDP.
  • 70% of consumer spending is done electronically.

Click here to see the infographic.


OMEGA Processing Solutions Joins Ohio Bankers League

February 26, 2015

OMEGA Processing Solutions is VERY excited to announce our acceptance as an Affiliate Member of the Ohio Bankers League. We’re looking forward to partnering with the OBL and its members on many future endeavors.

http://ohiobankersleague.com/aws/OBL/pt/sp/home_page

OBL logo


Payments Secured

February 2, 2015

Members of the Electronic Transaction Association (ETA) annually process nearly $5 trillion in U.S. transactions. This ETA-produced video outlines the payments industry’s cyber security initiatives.

Payments secured


Visa’s 10-Step Guide to EMV Implementation

January 30, 2015

1. Build internal implementation team
2. Assess current environment
3. Build knowledge base
4. Conduct needs analysis
5. Initiate & review internal plans
6. Finalize implementation decisions
7. Work with selected stakeholders
8. Test Test Test
9. Train point-of-sale staff
10. Pilot implementation
Let OMEGA Processing guide you along your EMV roadmap. Call 866.888.9724 or go to http://www.omegap.com TODAY!

roadmap


Life of a Payment

December 31, 2014

Behind every electronic transaction is a complex system that connects merchants and their customers. For an overview of what happens after you swipe, click or e-transfer money, check out this video produced by the Electronic Transactions Association
https://www.youtube.com/watch?v=UTOvZnTHxwU