Archive for October 2018
The History of Payment Processing
We can go back 5000 years to the ancient Mesopotamians who used clay tablets to conduct their trade, but let’s rather start in 1946 when a Brooklyn banker named John Biggins launched the first bank issued charge cards. The card was called Charg-It. There were three parties involved in each transaction: Biggins’s banking customers, Biggins’s…
Read MorePayment Gateways 101 – a Brief Guide
A payment gateway enables online card payment transactions by connecting an Internet webpage to the traditional banking network. Payment gateways communicate the authorization of funds being transferred to the merchant securely and conveniently for the cardholder, but don’t transmit payments; that’s the role of payment processors. The role of payment gateways is not limited to…
Read MoreHow PCI Security Requirements Protect You
The Payment Card Industry (PCI) Council is a regulatory body that recommends security measures for card transactions. It’s not a legal requirement, but many card networks trust it. Visa refuses to transact with anyone that isn’t PCI compliant, and since it’s the most popular card network, that doesn’t leave most merchants much choice. The PCI…
Read MoreThe Difference between a Chargeback and a Refund
Sometimes, a customer decides they want their money back. It might be because the product they purchased was faulty, or they might be experiencing buyers’ remorse. Maybe they ordered a delivery and it hasn’t arrived yet, or they can’t remember making the purchase. They might have reviewed their card statement and seen items or names…
Read MoreHow to Protect Your Business from Credit Card Fraud
The idea of card fraud is frightening, both for businesses and customers. But with swiping becoming a standard part of life, there are more mechanisms in place to protect us. Let’s look at some tactics we can use to keep our cards and our money safe. Double-check encryption levels The form of credit card fraud…
Read MoreMerchant Accounts for Medium-Sized Businesses
Consider your banking situation at the moment. You might have a personal account for your bills and household expenses. You may also have a commercial bank account in your business name. If you don’t, there are reasons why perhaps you should. It can be helpful for tax purposes, and to keep your costs separate. In…
Read MoreHow a Payment Gateway Can Help Your Business
Before we can see how a payment gateway will help your business, let’s first understand what it is. A payment gateway is a secure service provided by merchant service providers to merchants so that they can accept credit card payments online. Payment gateway software integrates with the checkout option on your website and runs 24/7/365…
Read MoreReasons a Small Business Should Accept Credit Cards
Owning a small business can be a very satisfying venture. Sometimes it gets comfortable because your scale is lower. You can maintain profitability while staying within your limits, and this can dissuade you from expansion. Any ventures that would broaden your scope can seem like unwarranted expenses, especially because you’re not sure how soon they’ll…
Read MoreMobile Card Processing
As a customer, there’s beauty in using credit cards to shop. You don’t have to worry about change, exchange rates during international travel, or carrying physical cash. But there may still be times when you were driving through some remote part of the country. Maybe it was a really small town, and they didn’t have…
Read MoreDoes a “Mom and Pop” Store Need a POS System?
Mom and pop stores are defined by their family feel, cozy atmosphere, and homely ambience. They’re typically run by relatives, and may have a handful of employees from the neighborhood – most likely high school and college students working part time, or nieces and nephews hanging out in their free time. It could be a…
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