4 Nonprofit Payment Processing Trends for 2015
3. Tokenization — the combat fraud king. Visa CEO Charles Scharf recently told attendees at the Bank of America Merrill Lynch 2014 Banking & Financial Services Conference that tokenization is “the single biggest change that’s been made in payment networks easily over the past 15 or 20 years.” With the emergence of new payment options such as EMV and mobile, there will be fresh concerns about fraud prevention, but tokenization is the combat fraud king, covering a range of payment channels targeted by fraudsters — card present, card not present and mobile. 2015 will see big players like Visa and MasterCard pushing their tokenization services to payment processors of all sizes — incorporating a range of emerging payment methods.