What are Closed Loop Mobile Payments?
A closed loop payment is a transaction in which a client uploads money into a spending account that is linked to a payment device. A good example would be a gift card. A closed loop payment can only occur between a spending account and a single, specific company. Closed loop mobile payments are the mobile…
Read MorePayment Processing Challenges for Small Businesses
While installing a payment processing system can have a significant positive impact on your bottom line, there are still challenges that small businesses have to face. From confusion to extra expenses, payment processing services can bring as much headache as they help relieve if vendors do not familiarize themselves with the technology and processes involved.…
Read MoreTechnology Security Tips for Your Business
Technology is an essential part of building and maintaining a thriving business. From increasing productivity, to streamlining business processes, technology is continuously advancing, and business leaders often jump at the chance to invest in technological progress. However, as technology gets more complex, there are more dark corners that can be exploited by bad actors. This…
Read MoreHow to Choose a Merchant Service Provider
Picking a merchant service provider will allow you to begin accepting credit cards for your brick and mortar or online store. This can be a great way to bring in more customers, who prefer to make payments using cards, especially online. However, there are many options to choose from when it comes to merchant service…
Read MoreCredit Card Data Security
Are Consumers Still Concerned About the Security of Their Payment Card Data? Perception often times affects the reality of business, even if that perception is wrong. A case in point is the fact that, according to Transaction Network Services, a telecommunication and financial data solutions provider, 85 percent of adults within the United States, Australia…
Read MoreGetting a Merchant Account with Bad Credit
A few decades back, getting access to credit was quite a challenge. Military veterans could get priority for loans, but most people had a hard time with any bank assistance or financing. Things have changed now, and may issuers offer you credit cards in the mail. You can get a card without even asking for…
Read MoreHow Is Credit Card Interest Calculated?
Credit card interest rates are set even higher than home or car loan interest. This is because the use of a credit card is considered unsecured debt, which is why credit cardholders are charged so much on the interest rate. For many cardholders, their credit card is used almost every day for minor purchases like…
Read MoreCybersecurity for Small Businesses
Cybersecurity should be a concern for every business, large or small. We often hear in the news about multinational online security hacks, but we aren’t exposed to the breaches happening regularly to small businesses. Small businesses are at equal risk of online security threats to large organizations, with about 20 percent of all small to…
Read MoreReduce Your Chances of Financial Fraud
These days, customers largely prefer to pay for their purchases using their credit cards. It’s swift, convenient, and feels safer than carrying cash. Unfortunately, criminals have upgraded their techniques. Instead of mugging and pickpocketing, they now use credit card fraud and identity theft to rob customers and run up unscrupulous bills. As a business, earning…
Read MoreThree Millennial Business Trends
We’ve been hearing about Millennials for a while now. While sources differ on the exact cut-off dates, this demographic roughly covers people born between the early eighties and the late nineties. Millennials started streaming into the work force a decade ago and their influence has been felt across business sectors. Millennials are characterized by individualism…
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