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Education

Depending on factors like company size and the It's likely payment capabilities will soon offer more than
complexity of the fraud risk environment, compa- just a competitive edge: they'll become bottom-line table
nies can either keep fraud monitoring and detection stakes. Enabling swift and secure payments can take a
in-house or outsource to third-party experts. company's commerce experience to the next level and
help build a loyal customer base.
Regardless, strict regulations around embedded
payments can't be ignored. Further, like any compa- But for the payment experience to meet convenience and
ny that accepts payments, the enterprise must also security expectations, it's essential to engage stakeholders
determine upfront how it will handle chargebacks early for planning. Large organizations may have the
and dispute resolution as part of fraud protection resources to build payments systems from scratch, but
planning. they'll still face challenges that are very different from
small companies, which I'll discuss in my next article.
3. Infrastructure: The process of integrating em-
bedded payments into operations can be complex, Peter Galvin is chief marketing officer at NMI, www.nmi.com. NMI's
from selecting a payment gateway to creating forms mission is to power the next era of payments by constantly innovating
and testing the integration. It's also essential to en-
sure the payment system is reliable and compliant, to keep ISVs, ISOs, banks and fintechs on the cutting edge of payment
and that it provides a frictionless experience for processing so they can focus on what they do best. Contact him via
customers. LinkedIn at linkedin.com/in/petergalvin or follow him on Twitter at
Pgalvin63.
While an organization may have the resources to
handle this process in-house, there are also third-
party enablement platforms that can be leveraged
for easier integration.

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