Archive for October 2017
What do I Need to Know Before Opening a Merchant Account?
Modern business has a slightly different approach than its traditional cousin. The guiding principle remains constant: you sell goods and services, preferably for profit. But the mode of payment has shifted a little. In addition to cash and kind, consumers can now pay using checks, credit cards, and debit cards. And cards need more processing…Read More
What do I Need to Know About PCI Compliance?
PCI stands for Payment Card Industry. The full term is Payment Card Industry Data Security Standard (PCI DSS) but most people know it as just PCI. PCI is a monitoring system that was developed by five of the biggest card companies in the world. It was created to protect businesses and consumers from card fraud…Read More
Moving Your Small Business to a Fully-Integrated Point-of-Sale System
Does Your Small Business Need to Move to a Fully-Integrated Point-of-Sale System, and How Do You Begin? Many business owners prefer to start small and scale gradually. It reduces the amount of capital they need to begin, and it buffers them against unmanageable losses. However, just because you’re running a small business doesn’t mean you…Read More
What is the Best Point-of-Sale System for Road Shows?
Point-of-Sale or “POS” is the place where the actual purchase transaction takes place. In yester-year goods sold at road-shows were transacted mainly in cash and occasionally by check. If you are still transacting that way your road-show days are probably numbered, because, at the rate things are changing, you might be lucky to make enough…Read More
What is Point-to-Point Data Field Encryption and How Does it Help You?
Point-to-point encryption (P2PE) is a standard established by the Payment Card Industry (PCI) Security Standards Council that must be adhered to by merchant account service providers. P2PE instantly encrypts sensitive credit card data and information into indecipherable code as it is swiped to prevent fraud. It is a security solution designed to maximize card payment…Read More
What is a Merchant Account Service and Why Should I Use it?
A merchant account service offers merchants, or businesses, a link between credit card holders and an acceptor, a bank, who in turn links all the aforementioned to payment brands, or credit card providers like American Express, Discover, MasterCard and Visa. This process is all controlled by strict agreements and regulated by laws and compliance regulations…Read More
Can I Accept EMV Cards from Customers Purchasing from my Online Business?
EMV technology plays no role in online payments. It also plays no role in telephone order or mail order payments. EMV (named after Europay, MasterCard, and Visa who designed and initiated the evolution in card security technology) is a new generation of credit and debit card that are issued with an embedded micro-chip that holds…Read More
Why are EMV Cards More Secure than Traditional Cards?
Decades ago, credit cards were a luxury item that were only possessed by the top tier of society. Nowadays, cards are more popular than cash. And, in addition to credit cards, consumers are becoming increasingly comfortable with debit cards. These cards can be used to withdraw cash from ATMs, but often, they’re used to make…Read More
What are EMV Cards and Who Needs to Use Them?
If you glance at your credit card or debit card, you may notice something different about it, versus the cards you remember from not too long ago. On the back, you can probably see the standard black magnetic strip. If your card is newer, you might also see a new small metallic chip somewhere at…Read More
What is a Payment Gateway?
What is a payment gateway, and why does an online store need one? A payment gateway is a secure service provided by a merchant card processing service that allows your online shop to accept credit card payments via your website. This will almost certainly increase your sales because the software runs 24 hours a day…Read More