Archive for September 2018

Does My Business Meet PCI Standards?

When people say PCI, they’re usually referring to one of two things. They either mean the Payment Card Industry DSS (Digital Security Standards), or the PCI Council, which is the regulatory body that developed those standards. This council isn’t a punitive authority. It doesn’t issue any actual certificates, and it doesn’t fine you if you…

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Why a Merchant Account is Essential for Your Business

If you think that your business is not ready for a merchant account, think again. No business is too small to have a merchant account! So what is a merchant account actually? A merchant account is a type of bank account that allows you to accept cashless payments, particularly by debit or credit card. It is formed based…

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Benefits of Opening a Merchant Account

Have you ever wondered about the benefits of opening a merchant account? Maybe you have been using traditional payment methods for years, or are about to open a new online business? If so, you may have also noticed that you are losing out on sales because you don’t offer credit card payment options, and if…

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In-store and Online POS Solutions

A POS, or “point of sale” is the place in your store or on your website where your customer pays for the goods or the services purchased from your company. A POS system enables the customer to make a payment. Typically, a modern point of sale system will use both POS hardware, as well as…

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A Merchant Account Can Streamline Your Business

A merchant account is a particular type of business bank account that allows your business to accept credit card payments. An online payment gateway connects your online store to your merchant account. It also facilitates the processing of the payment transaction between the various parties involved, including your bank and the card issuer’s bank. You…

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Missing Out on Sales Because You Don’t Accept Credit Cards?

You may have your reasons for not accepting credit cards from your customers. Maybe you’re worried that your bad credit blocks you off from opening a merchant account. You may even have applied to several merchant processors and been turned down, thanks to some black marks in your financial history. First off, those matters are…

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Fraud is the Most Common Cause of Chargebacks

Chargebacks can cost your business a lot, both in terms of money and reputation. Aside from the loss of revenue, you risk fines, penalties, blacklisting, or even a frozen account. Visa recognised this and made necessary changes. Their 2018 chargeback update goes a long way in protecting businesses from erroneously filed chargebacks. Visa reduced the…

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The History of Chargebacks

As a business owner, the word ‘chargeback’ probably makes you shudder. It might help if you had some background. The first credit cards were issued in 1950 by Diners Club. They were mainly used for travel and dining. Amex launched their credit card in 1958. Still, by 1970, Americans were yet to fully embrace the…

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What are Chargebacks?

Chargebacks are a bane for any business that accepts credit card payments because they are usually unexpected, and they can dent your cash flow. But, while chargebacks are an unavoidable reality, taking steps to limit them is both possible and vital. Chargebacks normally come from a dispute raised by a customer, but sometimes banks can…

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