Innovation and Challenges in Cashless Transactions with Carly Furman

Cashless transactions are quickly becoming the preferred method of shopping in North America. Tapping credit cards, smartphones, and other digital devices used for purchasing are quick and easy, the way shoppers like. And behind the simplicity of these transactions lies a complex network of products, systems, and regulations that enable this convenience. Carly Furman, CEO of Nayax North America, shed some light on the compliance, standardization, and innovation behind the cashless transaction experience. 

EMV (Europay, MasterCard, and Visa) is one of the key drivers making cashless transaction simplicity a reality. The EMV chip allows encrypted, dynamic, one-time transactions to the processor. This technology is essential for making purchases in unattended environments. 

The backend process of cashless transactions is complicated for the uninitiated. “It’s hard to keep up with the security standards, as well as ensure that you have a payment experience that is quick and seamless for the consumer, and also positive for the retailer,” Furman said. “So, this is where using a payment solution provider really comes into play. It’s not just about that piece of that terminal, it’s the easy onboarding, it’s the assurance that you’re going to be able to take all, and any available payment methods, in all the ways consumers want to pay.” 

Retailers look for a cashless payment solutions provider to keep up with standards, security issues, and advancing technology. “This is what we do,” Furman said. “It’s what our name is based on, ensuring compliance and security and staying up-to-date,” Furman said. “This is why we have the relationships with the card brands, with the banks; this is why we have the regulatory arm of our business.” 

Utilizing EMV protocols provides a higher acceptance rate when taking a credit card. “At the end of the day, you can’t sell your products, services, and goods as a retailer, unattended or not, if you can’t give people an easy and efficient way to pay that ends up in a successful transaction,” Furman said. 

 

Follow us on social media for the latest updates in B2B!

Image

Latest

How Hotels Bounce Back From the Unexpected
How Hotels Bounce Back From the Unexpected
September 4, 2025

In this episode of Inside Restoration & Recovery, host Martha Lewis sits down with Josh Creznic, Director of Hospitality Services at BMS CAT, to unpack the unique challenges and critical priorities in hotel restoration. With over two decades of experience in hospitality—spanning major brands like Marriott and Wyndham—Josh brings deep insight into how restoration…

Read More
Built from the Dirt Up: Dillan Dumont’s Journey from Bricklayer to Industry Disruptor
September 4, 2025

With all types of infrastructure across America aging, there has never been more of a need for smarter, less disruptive solutions than now. From trenchless pipe repair to utility innovation, the construction world is shifting and young leaders like Dillan Dumont are stepping into the spotlight. Cities like New York and Chicago are facing…

Read More
mission-led
Calm First. Chaos Later: Sustaining Well-Being and Mission-Led Impact With Boundaries, Reflection, and Advocacy
September 3, 2025

Conversations about well-being are evolving beyond individual health to include the culture, values, and impact of the brands we support. Today’s connected world exposes young people to bullying across more channels than ever before. In 2024, the CDC reported that 40% of high schoolers experienced persistent sadness or hopelessness, while StopBullying.gov noted that 19.2%…

Read More
Goldey-Beacom College
Workforce Success and Innovation-Driven Growth with President Keith of Goldey-Beacom College
September 3, 2025

As higher education institutions face declining enrollments and increasing pressure from employers for skills-based learning, small colleges are rethinking their missions. A whopping 70% of U.S. employers say they struggle to find workers with the right skills, and credential-based programs are gaining traction as a solution. At the intersection of tradition and transformation, Goldey-Beacom College…

Read More