In just four years, online, mobile and contactless payment transactions will hit $5 trillion, according to a recent report entitled, “ Digital Payment Strategies: Online, Mobile & Contactless 2014-2019.”
The report claims that online transactions will jump from $2.5 trillion in 2014 to $4.7 trillion by 2019. Additionally, the report also showed that increased purchasing on tablets and mobile devices led to organic growth in the overall transaction level.
Dr. Windsor Holden, the report’s author stated, “While we are now seeing contactless transactions scaling up in markets such as Australia, Poland, and the UK, almost all current consumer usage is via the card. However, with banks increasingly attracted to an NFC model in which they have full control over the customer, then we may well see some high-profile deployments in the medium term.”
With online transactions growing, merchants face more pressure than ever before to keep systems out of scope for a PCI DSS audit. Paymetric’s XiIntercept for eCommerce solution helps capture card numbers prior to them entering online ordering and payment platforms, ensuring that the first thing the web application ever touches is a token. This removes the system from the Cardholder Data Environment and PCI DSS Audit Scope.