It’s very clear that the card industry is making strides to reduce card-present counterfeit fraud by migrating to chip technology, but a much-anticipated increase in card-not-present fraud is slowly ramping up as more and more issuers and merchants adopt chip and tokenized payments.
We are living in exponential times. Just as we figure out a new technology, an even newer one comes on the scene. This is one of the many reasons why digital transformation experts advise business leaders to focus on the user, not the technology.
Although they are often referred to as “digital natives,” consumers raised in the Internet age have expectations that go far beyond technology. For them, a great experience is less about the app, tool or channel used to deliver that experience and more about the intuitive, frictionless and hyper-personalized way it’s delivered.