PayFAQ: The Embedded Payments Podcast

As businesses continue to embed payment solutions into their software platforms, ensuring compliance with PCI DSS (Payment Card Industry Data Security Standards) is more important than ever. Candice offers valuable insights into why PCI compliance is critical and how software companies can navigate this complex landscape. Learn more about PCI in Episode 26 | All about PCI.

Ian Hillis and Yael Barak, former Vice President of Product Management at Worldpay delve into the topic of surcharging—an increasingly important issue for small and medium-sized businesses (SMBs) dealing with rising payment acceptance costs on PayFAQ: The Embedded Payments podcast.

Disclaimer: Surcharging is a highly regulated industry just like card processing. Worldpay is constantly communicating with and monitoring new requirements in this industry. To understand more about what applies to your business and how to stay compliant, please speak directly with your partner manager.

Fraud in the payments industry is evolving rapidly, and AI is playing a significant role in shaping its future. In a recent episode of PayFAQ: The Embedded Payments podcast, host Ian Hillis sat down with Gary Pontecorvo, Senior Director for Financial Fraud Investigations, Operations and Intelligence at Worldpay, and Brian Rust, Deputy Chief Information Security Officer at Worldpay. Their conversation provided a deep dive into how fraudsters are using AI to refine their tactics and what businesses, particularly software platforms engaged in payments, can do to protect themselves.

Are you curious about the world of PayFac® developers? You’ve come to the right place. With the acquisition of Payrix, Worldpay for Platforms is now the one-stop payments shop for software companies wherever they are on their payments journey.
In this episode of the PayFAQ Embedded Payments podcast, host Bob Butler talks with Jennifer Pinnick, Senior Operations Manager at FIS, to continue an exploration into the exciting world of PayFac. (This isthe second part of a two-part discussion. Click here if you missed the first part, featuring Richard Drake, also from FIS.)
The opportunity for growth, new products and enhancements, and finding the different things that each PayFac developer needs is what’s most exciting for Pinnick. “We’re always looking for new and innovative ways to help our PayFac developers move their needle forward.” One way is to assign support resources to each PayFac developer who knows how you process and use the systems at Worldpay.
According to Pinnick, there are many other reasons to choose Worldpay for Platforms, including scalability, reliability, and their focus on payments – the heart of what they do. “Our platforms can support some of the largest both direct and PayFac developers out there. We’ve helped build some small companies into robust and what some would say unicorns today.”
When a new PayFac developer comes to Worldpay, Pinnick said they first look at how they can help the developer do their operational jobs best. “Once our sales and implementation teams have gotten you over the hurdle, we make sure your set up for success, whether that’s IQ training, education, and really owning that experience and relationship.” The goal is help you deliver a white-glove experience to your clients.
“If you’re new and you’re not sure where payments really fits into your embedded ecosystem, you can start with our integrated payments model. If you’re a little more savvy and secure, I always recommend Payrix as our PayFac-as-a-Service. And then, of course, I also would love to work with you as a PayFac developer and continue to help you grow and develop your business,” Pinnick says. “We can help you grow your business and stay profitable in this ever-evolving marketplace.”
Have a listen and reach out today to find the right solution for you!

No software company wants to experience a security breach. But they can happen in today’s digital world. That’s why managing risk goes hand-in-hand with having Embedded Payments as part of your software platform

In this episode of PayFAQ: The Embedded Payments Podcast, Jessica Kirkpatrick, Senior Director of Risk, Fraud, and Underwriting at Payrix shares how software companies can detect security comprises early, contain breaches if they occur, and help prevent them from happening in the first place.

Jessica draws from 18 years of experience in the payments industry, including 17 years in risk operations at PayPal. She tells our host Bob Butler that many companies don’t find out about security breaches until they hear from customers when the damage is done, such as they’re no longer receiving funds or seeing unrecognized activity on their software account. The impact can be costly for the merchant and the software company.

At that point, she emphasizes how important it is for companies to contain the breach and prevent further compromise and damage. Implementing measures like changing passwords, multifactor authentication, and conducting a thorough investigation are crucial steps to take immediately.

The biggest mistake is doing nothing or believing you’ve fully mitigated the attack. According to Jessica, if a fraudster detects vulnerability, they’ll come back and try again. She explains the very first thing to do to prevent future attacks is managing access to your software. Then, focus should be on training employees and merchants, developing a robust cyber-security policy, and other measures that together help prevent future breaches.

Have a listen and stay safe!