Securing Payments and Agentic Commerce

Whenever my mum comes to the US and we go to a restaurant, she never lets her credit card out of her sight - insisting on following the waiter all the way to the register 😆

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They always look baffled, but she might actually be onto something! In-person fraud rates in the US are much higher than in Europe.
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Why is card fraud so prevalent?
We share our 16-digit card numbers everywhere - is that safe?
How do merchants actually protect this data?

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To dig into all of this, I spoke to Colin Luce, CEO at Basis Theory, and it turns out there's a quiet power struggle happening.
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Visa and MasterCard want merchants to rely on their tokens and delete the original card data.
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Merchants don't trust what comes next.
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Once you give up that data, you can't switch processors, you can't negotiate, you take whatever pricing the networks decide.

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We also discussed in the podcast:

• Why agentic commerce isn't really a payments revolution
• Why MasterCard are getting rid of the PAN
• Whether consumers care about card fraud
• How your Stripe token is useless with Adyen

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Listen now on Spotify and Apple Podcasts!