Posts by Guest Contributor
What CVV, PCI, DSS, AVS, ACH, and Other Payment Acronyms Stand For
Acronyms, abbreviations, and other language shortcuts were designed to make it easier for us to communicate. But we use them so frequently that, while we know what they mean, we may forget what they actually stand for. At the same time, some jargon is industry-specific, so an outsider may have a hard time learning what…
Read MoreThe Role of the Payment Gateway
The role of the payment gateway is vital to ecommerce. Without a payment gateway, credit card payments cannot be processed online. What is a payment gateway? Payment gateways provide an essential service for credit card transactions. They facilitate these kinds of transactions by transferring information between payment portals and the payment processor or bank. To…
Read MoreDifferences Between Online Payments and Offline Payments
These days, a lot of businesses start their journey online before they go off. It doesn’t need much capital. It’s $5 to $15 for a web hosting package, and while professional web design can cost from hundreds of dollars to tens of thousands of dollars or more, free templates are a good starting point. Then,…
Read MoreFriendly Fraud vs. Chargeback Fraud
According to statistics, credit card fraud and identity theft aren’t as common as we fear. Of all the fraud-driven cases of chargeback, only about 30% are true fraud cases. The other 70% or so are so-called “friendly fraud” cases, where a customer accidentally disputes a legitimate charge because of the customer’s error or genuine misunderstanding.…
Read MoreHow to Reduce the Chances of a Chargeback
Chargeback fees may only be a few cents, or maybe a few dollars, but they pile up pretty fast, and their long term consequences are disastrous. It stays in your permanent bank records, even if the matter is resolved in your favor. If you accrue too many chargebacks, this could trigger an audit or even…
Read MoreDoes my Small Business Need to Certify PCI Compliance?
The term ‘small business’ is relative. It could refer to customer volumes, turnover, reach, service provision, staff numbers, physical size, or maybe you live and work in a quiet little town. Regardless, you still need to be PCI compliant in order to accept credit cards. There are two reasons why. One, you can’t process any…
Read MoreAccept All Forms of Electronic Payments with a Merchant Account
If you run a traditional brick-and-mortar business, the online world can seem a little daunting. And yet the simple step of accepting online payments could significantly increase your sales volume. And you wouldn’t even need more staff. (Well, actually, you might need more staff to keep up with your increased business size–but not to accept…
Read MoreReasons to Accept Credit Cards for Your Micro-Business
The term “small business” covers a lot of territory, from independent beauty consultants to home-based businesses to operations with 20-30 employees. Most small businesses don’t think twice before accepting credit card payments, but many micro-businesses might. A micro-business is generally an independent operation and is something that can even start as a side project while…
Read More75% of Consumers Prefer To Pay With Credit Cards
Are you losing out because you don’t accept credit cards? If you don’t accept them, then the short answer is yes—though not necessarily in the ways you might think. If three-quarters of your customers would rather pay by card, you’re likely to lose a good proportion of those sales. If your product or service is…
Read MoreHow Do I Remain PCI Compliant?
A survey conducted in 2014 shows that nearly $16 billion losses were caused due to credit-card fraud. This could be, in part, because businesses may not maintain proper controls over the sensitive data in their possession. PCI refers to the Payment Card Industry Council, which is the organization that self-regulates credit card payment methods. Initially,…
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