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Apr 2016

Using Chip Versus Swiping With Credit Cards - WTSP TV

Months after a credit card industry deadline for retailers to help keep your financial data safer, research is showing many stores haven't updated their credit card readers.

“Our survey is showing only around a third of retailers have made the transition,” said Jared Drieling
Business Intelligence Manager for consulting firm The Strawhecker Group.

A credit card industry deadline of Oct. 1 to begin using the new EMV chip-enabled credit cards shifted liability for credit card fraud from the banks to the retailers.  Still many large and small retailers are still swiping their credit card transactions.  The result, is confusion for shoppers whether to swipe or “dip” their card and millions of transactions at a higher risk for fraud.

Watch the video

Apr 2016

The Strawhecker Group's 500th Edition of NewsFilter

It is hard to believe TSG has been publishing NewsFilter for over 9 years. Over those 500 weeks we have shared over 15,000 articles related to the ever-changing Payments Industry. From interchange to consolidation, data breaches to EMV, and mobile payments to bitcoin, the industry continues to evolve...as does TSG's NewsFilter. To celebrate our 500th edition, we have revamped NewsFilter to deliver a more modern, crisp, reading experience. In addition, NewsFilter is now more mobile-friendly than ever. Enjoy!

Subscribers: You are the reason we have reached this milestone! Thank you for your continued support, feedback, accolades, and readership. We will continue to evolve with the industry and provide you with the most relevant content to help you succeed in the Payments Industry.

Check out this week's edition.

Mar 2016

TSG in Yahoo! Finance - The Real Reason Why Some Stores Still Don't Take Chip Credit Cards

The deadline for retailers to change to the chip-enabled payment systems was last October when U.S. credit card companies, including Visa and MasterCard, announced new liability rules. This meant that businesses had to switch over to the new technology or take responsibility for any costs incurred in the event of fraudulent transactions.

Chip cards use EMV technology (which stands for Europay, Mastercard, Visa), and are more secure than traditional swipe cards because they create a unique transaction code that cannot be used again. Cards with only a magnetic stripe use the same transaction code over and over, which makes it easier to skim information.

Despite the now passed deadline, The Srawhecker Group (TSG) released a survey in February estimating that only 37% of merchant locations were EMV ready.

“It appeared that some merchants delayed EMV migration completely until the holiday season ended to prevent friction and confusion at the checkout line,” said Jared Drieling of TSG.


Mar 2016

TSG in CNBC - Retail Businesses Face Big New Hack Liability

When asked if Wendy's new point-of-sale technology includes EMV card readers, company spokesman Bob Bertini said most stores have yet to install the readers. That would put Wendy's more than a year behind the credit card industry's deadline for full compliance with the new rules.

The burger chain is not alone. Consulting firm The Strawhecker Group, which focuses on payments, found that of 90 companies representing about 4 million merchants, nearly 40 percent of respondents had fallen behind in their EMV reader implementation plan. "A lot of key stakeholders in the EMV migration were not prepared," said Jared Drieling, Strawhecker's business intelligence manager.

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Mar 2016

The Strawhecker Group Promotes Andrew Nuss to Director of Marketing

Omaha-based payments consultancy, The Strawhecker Group (TSG), is pleased to announce the promotion of Andrew Nuss to Director of Marketing.

Andrew has made significant contributions to TSG’s growth since joining in 2009, through his guidance of day-to-day marketing and communications tasks. Nuss has helped create global awareness for TSG by highlighting the synergies of the firm’s expertise and unparalleled data. As a leading consulting firm in the Payments Industry, Nuss has helped grow its client base to hundreds clients, including many Fortune 500 companies.

Nuss is also Editor of TSG’s weekly newsletter, NewsFilter, which is distributed to over 35,000 recipients inside and outside of the Payments Industry. Quickly approaching its five hundredth edition, TSG’s NewsFilter is considered by many industry executives to be the preeminent source of weekly news throughout the space.

Continue reading.

Feb 2016

Survey Estimates 37% of U.S. Card-Accepting Merchants Are EMV-Ready

TSG released survey results that estimate 37 percent of U.S. merchant locations are EMV-ready four months after the October 1st, 2015 liability shift.

TSG's previous survey of payment processors and other payment providers completed last September estimated that over 40 percent would be EMV ready by this time, showing a slower pace of implementation than expected before the shift.

By June 2016, it is estimated that consumers will be able to use their EMV credit and debit cards at 50 percent of U.S. merchant locations. EMV-readiness is not expected to reach a threshold of least 90 percent of merchant locations until 2017 - more than 15 months after the shift.

See the infographic.


Jan 2016

TSG in Digital Transactions - In a Bid to Build on Strengths, TSYS Clinches a $2.35 Billion Deal To Buy TransFirst

TSYS has been interested in TransFirst for the past two years, Jared Drieling, business intelligence manager at payments consultancy The Strawhecker Group, tells Digital Transactions News. “It definitely makes sense for a couple of reasons,” Drieling says. “Clearly, TransFirst is a little more focused on small and mid-size businesses, where TSYS has a little more focus on larger retailers. As we’ve seen with other merchant acquirers, the more profitable segments are in the small and mid-size sector.”

The other factor is that the TransFirst acquisition is an opportunity for TSYS to broaden its products and services, Drieling says. “TSYS has been somewhat conservative on the technology front, especially along the omnichannel front,” he says. Other processors have already begun to tackle how to offer payments services when the lines between physical and digital payments are blurring, he says. “TransFirst really brings together other areas, such as integrated payments and omnichannel services.”

Like the recently announced Global Payments Inc. deal to buy Heartland Payments Inc., the TSYS-TransFirst deal is about building on top of what each company already has developed, Drieling says.


Nov 2015

TSG in CIO: For Retailers, Confusion Reigns After EMV Rollout

Still, this is just the beginning of a lengthy migration process, says Jared Drieling, business intelligence manager at The Strawhecker Group, a management consulting company focused on the global electronic payments industry. “There are pluses and minuses associated with EMV but all in all, we need to view this as the starting line versus a deadline,” he says. “I don’t think that this confusion is a bad omen for EMV’s future – this is a large and complicated migration, so it will take time.”


Nov 2015

Michael Dooley Joins The Strawhecker Group as Director of Business Development

The Strawhecker Group (TSG), has announced today the addition of Director of Business Development, Michael Dooley who brings over 20 years of deep experience in managing sales and client projects. Dooley will use his expertise to help TSG reach new heights and grow its dedicated consulting practice by improving speed and efficiency.

"Dooley is a major addition to TSG," said Kurt Strawhecker, Managing Partner. "His industry experience, coupled with his consulting background, will be a great benefit for clients, further cementing TSG as the industry's leading provider of advisory services," added Strawhecker.

Continue reading.

Nov 2015

ETA Helps Tech Companies Find Opportunity in $5 Trillion Payments Industry

ETA and The Strawhecker Group revealed the latest research on the future of FinTech at TRANSACT Tech. The report shows the payments industry is a lucrative growth sector for startups and established industries alike because it embraces innovation and companies are eager to form partnerships to fill gaps or gain a competitive edge in the marketplace. ETA Members can access the report here.

Globally, the report found that nearly 800 payments mergers and acquisitions occurred between September 2014 and September 2015, netting an average price of about $90 million per deal. Half of those deals were in the U.S. market. Top company categories include crypto currency, mobile payments and card processors.