Credit Card Processing
Payment 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 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 MoreHow to Accept Credit Cards Over the Phone
Most businesses process credit cards in one of three ways. Customers can swipe cards on a portable electronic keypad, swipe it on a card reader attached to a cash register, or input their card details on a secure website. To facilitate these payments, a business needs to open a merchant account with a payment processor.…
Read MoreQA Processes
QA stands for Quality Assurance. When it comes to payment processing, there are three main areas of quality assurance. One is on the cash transaction itself, ensuring it goes off without a hitch. Two, the payment processor, to check that they are suitable for the tricky task of handling credit cards. The third quality assurance…
Read MoreBank Identification Number (BIN) Definition
A Bank Identification Number (BIN) is the first four to six numbers that appears on the front of a credit card. The BIN number is a unique identification of the banking institution that issued the card. BIN numbers are also assigned to charge cards, gift cards, debit cards, pre-paid cards and benefit cards to identify…
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