5 episodes

Technology is served! Tune in while TableSafe dishes up the latest on the constantly innovating restaurant and payment industry.

Table for 2 with TableSafe TableSafe

    • Food

Technology is served! Tune in while TableSafe dishes up the latest on the constantly innovating restaurant and payment industry.

    Staying Savvy to Account Takeover

    Staying Savvy to Account Takeover

    Statistics show that data breach and stolen personally identifiable information, or PII, are increasing at alarming rates. According to a recent article in Payments Journal – Know Thy Fraudster, the amount of compromised PII increased 72% between the first half of 2017 to the same period of 2018. Compromised PII often results in a criminal obtaining access to additional financial records including bank accounts, PINs and credit card accounts. This type of fraud is known as account takeover, or ATO.

    Fraudsters specializing in ATOs gain access to their victims’ accounts, then make non-monetary changes that include modifying personal information, requesting a new card or PIN or adding an authorized user. Once this routine account modification is complete, the thief is then empowered to carry out undetected illegal transactions. ATO fraud doesn’t discriminate - everything from government and employee benefits, wireless phone contracts, checking, savings, credit card, and e-commerce accounts are at risk.

    Although the bulk of fraudulent purchases are made online, the supply of stolen credit card numbers and PII often originates from data breaches involving card-present POS systems. Compromised access to payment transactions and loyalty program data can pave the path for obtaining credit card or other financial details used to steal PII and purchase goods online.

    Investing in basic network fraud protection is not enough to combat the devious fraudster who makes his living on ATO scams. As detailed in the Know Thy Fraudster article, you need to know the thief you are trying to thwart and then build security measures throughout your establishment. In actuality, you're not dealing with a single thief; you’re attempting to battle a ring of sophisticated ATO specialists. They're an efficient team of experts working together so they can maximize the number of attempts, share vulnerabilities and utilize individual team specialties. One section of the fraud ring may focus on acquiring data, another in selling the data and another in automation. Collectively they share the profits. To counter this den of thieves, you need to build a secure system throughout your establishment to minimize access to data, including at the point of payment.

    TableSafe believes that minimizing the threat of data breach begins with a secure payment process that follows the strictest security standards including PCI and EMV. The company's solutions protect individuals’ PII through point-to-point encryption and eliminating the need for PII to reside on the POS system. Hackers can’t steal what was never there, to begin with.

    In the end, you need to realize that fraud is literally a full-time occupation for some people. If your venue doesn’t take fraud seriously, your defenses are down against people who are ready and willing to take advantage of you. Sadly, the fraudster community will always find the path of least resistance. Don’t let that be your ATO exposure to the fraudster community.

    • 4 min
    How to Plan Proactively by Knowing a Credit Card Fraudster's Though Process

    How to Plan Proactively by Knowing a Credit Card Fraudster's Though Process

    Statistics show that data breach and stolen personally identifiable information (PII) are increasing at alarming rates. According to a recent article in Payments Journal – Know Thy Fraudster, the amount of compromised PII increased 72% between the first half of 2017 to the same period of 2018. Compromised PII often results in the criminal obtaining access to additional financial records including bank accounts, PINs and credit card accounts. This type of fraud is known as account takeover (ATO).
    Fraudsters specializing in ATOs gain access to their victims’ accounts, then make non-monetary changes that include modifying personal information, requesting a new card or PIN or adding an authorized user. Once this routine account modification is complete, the thief is then empowered to carry out undetected illegal transactions. ATO fraud doesn’t discriminate - everything from government and employee benefits, wireless phone contracts, checking, savings, credit card, and e-commerce accounts are at risk.
    Although the bulk of fraudulent purchases are made online, the supply of stolen credit card numbers and PII often originates from data breaches involving card-present POS systems. Compromised access to payment transactions and loyalty program data can pave the path for obtaining credit card or other financial details used to steal PII and purchase goods online.
    Investing in basic network fraud protection is not enough to combat the devious fraudster who makes his living on ATO scams. As detailed in the Know Thy Fraudster article, you need to know the thief you are trying to thwart and then build security measures throughout your establishment. In actuality, you are not dealing with a single thief; you’re attempting to battle a ring of sophisticated ATO specialists. They are an efficient team of experts working together so they can maximize the number of attempts, share vulnerabilities and utilize individual team specialties. One section of the fraud ring may focus on acquiring data, another in selling the data and another in automation. Collectively they share the profits. To counter this den of thieves, you need to build a secure system throughout your establishment to minimize access to data, including at the point of payment.
    At TableSafe we believe that minimizing the threat of data breach begins with a secure payment process that follows the strictest security standards including PCI and EMV. We protect individuals’ PII through point-to-point encryption and eliminating the need for PII to reside on the POS system. Hackers can’t steal what was never there, to begin with.
    In the end, you need to realize that fraud is literally a full-time occupation for some people. If your venue doesn’t take fraud seriously, your defenses are down against people who are ready and willing to take advantage of you. Sadly, the fraudster community will always find the path of least resistance. Don’t let that be your ATO exposure to the fraudster community.

    • 4 min
    Security and Data in Modern Day Payment Processing with Ryerson Schlitt of TableSafe

    Security and Data in Modern Day Payment Processing with Ryerson Schlitt of TableSafe

    In just a few short decades, payment technologies have transformed the way customers buy and exchange services. From cash, to check, to card, to chip, to Chase Pay; payment methods have undoubtedly changed, and the hospitality industry is tasked with the never-ending challenge of evolving alongside these marketplace changes.

    On this episode of Table for 2 by Tablesafe, we explored the security behind these payment processing technologies used in the Hospitality industry with Ryerson Schlitt, director of product management at Tablesafe. Schlitt said the question on the tip of most merchants tongues today is “How do we prep for what’s next?”

    With technology evolving at an exponential pace, restaurants and brick-and-mortar stores are looking for an edge.

    To find it, Schlitt said: "It’s best to look at other countries, like Europe where technology like EMB (chip-reading) has been around for over ten years longer than in the USA."

    While trying to stay on trend with technology, modern-day merchants are also competing with the rise of e-commerce.

    “E-commerce knows more about its customers than any brick and mortar does," he said. So, quite literally, what can payment facilitators such as TableSafe bring to the table? The answer--safety and data.

    “Security is a baseline," Schlitt, with confidentiality being key to retaining customers. But beyond that, an element of personalization is what will set merchants apart. The defining feature to TableSafe payment processing is tying payment data to surveys, reviews, and staff evaluations, allowing merchants to understand their customer base better.

    • 14 min
    Payment Processing: The Restaurant Owners' Hidden Nemesis with Nydelis Ortiz-Rivera of TableSafe

    Payment Processing: The Restaurant Owners' Hidden Nemesis with Nydelis Ortiz-Rivera of TableSafe

    This podcast originally aired on MarketScale's Food & Beverage Podcast.

    Owning a restaurant is a tough, multi-faceted business. It can be challenging enough getting diners in the door, but when it comes to processing their payment, it’s more complex than restaurateurs may realize. Not only are market trends transitioning toward new technologies, but the liability for credit card transactions has shifted as well.

    TableSafe is a part of revolutionizing the Restaurant and Hospitality industries, by offering businesses Pay-at-the-Table technologies that have recently emerged in the U.S. TableSafe’s Payment Product Manager, Nydelis Ortiz Rivera discussed the growth these devices have experienced, and how innovations will continue to provide an availability of solutions to merchants on this episode of our podcast.

    “It’s not only about what solution is best for the restaurant, but what solution will allow restaurants the best experience for their customers,” Ortiz-Rivera said. With any restaurant, the goal is always to enhance the customer experience, and with emerging technologies, it’s important for owners to find best-fit, simple solutions to serve that purpose.

    • 18 min
    The Impact of Payment Processing on the Dining Experience with Ryerson Schlitt

    The Impact of Payment Processing on the Dining Experience with Ryerson Schlitt

    Technology has caused disruptions in many industries, allowing for innovation and new efficiencies. The restaurant industry is no different. Technology has been a part of this industry for decades, going back to the first cash registers, which then evolved into sophisticated POS systems.

    So, what are restaurants doing right now to embrace technology? TableSafe’s director of product management Ryerson Schlitt table shared his perspective on today’s episode of Table for Two.

    Restaurants have a variety of ways to integrate technology that can positively impact the customer experience. Consumers can go online and make reservations or take orders in a snap, but what about when it comes to the interactions inside the restaurants?

    “Payment processing is a big part of the customer experience. It needs to be simple, fast, and secure. And there are outside factors driving this. For example, the need to read chip cards,” Schlitt said.

    The challenge often comes with ensuring that the chip card reader is actually efficient. “If the technology isn’t effective, there are more steps to pay, reducing the number of diners that can be served, which isn’t good for either the restaurant of the consumer,” he added.

    When looking at its impact on service, it’s important to note the shift in consumer expectations. “They are driving this transformation, and restaurants have to respond,” Schlitt said.

    When it comes to payment processing, it’s not really a one-size-fits-all. The design of such a system has to be universal and meet the needs across all demographics. Schlitt calls this one of the biggest challenges to payment processing design.

    • 18 min

Top Podcasts In Food