Credit Card Processing
How Does a Merchant Account Work?
If a business wants to accept credit or debit card payments, they will need a merchant account. A merchant account is a specialized type of bank account that exists to hold the funds captured from credit and debit card sales. After a card is swiped for payment, the money is held in a merchant account…
Read MoreThe Benefits of Accepting Online Payments
As of 2018, over 50% of American consumers prefer to shop online. As innovations in technology increase, this figure is likely to rise even higher. Business analysts and advisers recommend that companies enhance their reach and sales by offering e-commerce platforms. As a consumer, it is easy to see the appeal of online shopping: it…
Read MorePCI Compliance
Attaining PCI compliance is an essential part of growing your online business. Without it, you open yourself up to fines, litigation, and data theft. The Payment Card Industry Data Security Standard (PCI DSS) was put forth by the five major credit card companies, and it is meant to reduce the number of costly and highly…
Read MoreDoes my Business Qualify for a Merchant Account?
Virtually every modern business needs a merchant account. It streamlines your payment options, combining your check, cash, card, ACH, and online payments into a single platform. And if you have on online store then a merchant account is practically mandatory, since it’s the only practical way to safely receive payments from your customers. However, a…
Read MoreHow Secure are ACH Payments?
To be reassured that ACH payments are secure, let’s first understand what they are. Automated Clearing House or ACH payments are payments made through a federally regulated electronic network used by financial institutions to send and receive financial transactions. An ACH processes large volumes of credit and debit transactions in batches, including direct deposits, payroll…
Read MoreTips for Safer Mobile Payments
The mobile phone has become a veritable technological Swiss army knife. Nowadays, smartphone owners can even use their device to make payments using Apple or Android Pay. The device stores payment information, and then it can be used for contactless payments at appropriate point-of-sale terminals. The payment information is encrypted, and it’s very hard for…
Read MoreHow to Make Payments Easier for Your Customers
When people first started exchanging goods and services, they used barter trade, which was a challenge. After all, how do you decide how many bags of salt or heads of cattle are equivalent to an hour’s use of your swimming pool? Once precious stones and metals became forms of exchange, it was easier to gauge,…
Read MoreWhich is the Best Payment Gateway for Me?
A payment gateway is used to validate the credit card details of a customer in a secure manner. It is considered the equivalent of a point of sale terminal in a brick and mortar store, except that it’s for online transactions. The gateway will pass the customer’s financial information from the Internet to the banking…
Read MorePCI Compliance and Payment Gateway
PCI compliance can be daunting, but if you are a business accepting credit card payments, there’s no way around it. Some business owners think that with the proper gateway, PCI compliance is no longer necessary. Unfortunately, that is not the case. PCI compliance mostly takes place within your server system, and it provides guidelines for…
Read MoreFraud is Evolving; So Should Your Data Security.
As the world advances, so does the criminal element. Just like every gun invites the development of bulletproof clothing, every fraud detection method prompts unsavory characters to try and get round it. Stay on top of things by reading widely and keeping in touch with industry security networks, and learn how to safeguard your company…
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