Running a business requires continual improvements. Use these insights about new point-of-sale options, mobile technology, payment card processing trends and more to be better prepared to seize opportunities and thrive.
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Solving the Problem of Payment Card Fraud
This is the first in a three-part series about EMV® technology and how it helps keep sensitive data away from cyberthieves.
Payment card fraud is a fast-growing problem that negatively affects the bottom lines of businesses of all sizes and card issuers around the world.
An Essential Part of a Larger Security Strategy
This is the second in a three-part series about EMV® technology and how it helps keep sensitive data away from cyberthieves.
Thieves can steal payment card information and use those stolen accounts for fraudulent transactions in many ways. EMV, or PIN-and-chip technology, for payment cards and mobile devices does not protect against all the ways fraud can happen, but it plays a key role in an overall security strategy that does provide a high level of protection for businesses and customers.
The First Step on the Path to Reducing Payment Card Fraud
This is the third in a three-part series about EMV® technology and how it helps keep sensitive data away from cyberthieves.
Eighty countries are in various stages of EMV technology adoption, and the evidence clearly shows that EMV technology reduces fraud.1
The majority of consumers still write checks, which puts businesses at risk for theft, loss and fraud. Paper checks have to be transported to the bank, requiring more time and handling than business owners can spare.
Electronic check acceptance makes the payment process as easy as using a credit card for both the customer and the business. Learn what equipment you need and how electronic check acceptance reduces your risk and gets payments into your bank account faster.
Gift cards continue to grow in popularity, with huge potential for businesses that understand how to promote and manage strong gift card programs.
Consider the following:
If your business had as many customers as we have acronyms and payment industry terms, you’d more than meet your sales goals every month.
We know payment and technical jargon can be confusing. As an industry, payment processors and financial institutions work with complex payment equipment, laws and regulations, and elaborate financial and security software that’s full of unique vocabulary and shorthand.
Have you ever stumbled through a document that mentions ACH, EMV®, CVE and MICR all in the same paragraph?
We understand it can be overwhelming. To help simplify it all, here’s a glossary of frequently used payment terms.
When will customers no longer pay with traditional credit and debit cards? That depends on how long it takes for a true convergence of four trends — adoption of multifunction cards, acceptance of contactless cards, mobile payments and advances in fraud protection.
Most chargebacks — reversal of a payment card transaction typically occurring when a consumer files a dispute with her or his bank or card provider — occur at the point of sale. And most can be prevented with a little training. Here’s how to do it — from making sure to obtain a customer’s signature, to when to deposit credit receipts, to when to ship merchandise.
Allowing customers to pay with plastic isn’t an option for today’s businesses — it’s a requirement. If you don’t accept credit cards, your customers may go someplace that does.
Plus, surveys show that credit card users often spend more money when using a credit card compared to cash or checks.