The most common areas where brands are overcharged on their monthly merchant statements are discount rates, interchange fees and additional fees like “risk fees” that are hiked up by the payment processor.
Technology is a big factor in growing these businesses from part- to full-time, with 79% of respondents saying they consider technology tools, such as payment processing, essential to starting a business.
Designed to address the ever-evolving threats facing the payment industry, PCI v4.0 upgrade includes new requirements that address issues like phishing and skimming. The PCI DSS has 12 key requirements, 78 base requirements, and 400 test procedures.
During this educational session, representatives from Adyen, Sage Hospitality and Hilton spoke on the surge in popularity of digital payment technology and what that could mean for hoteliers in the near future.