Business

How to Get Payment Processing for Vape Products Online

How to Get Payment Processing for Vape Products Online If you’re planning to sell vapes online, one of the first hurdles you will need to overcome is finding merchant services that accept your business. The sale of electronic cigarettes, vape, and related products is considered high risk. This means many merchant account providers will turn …

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How to save money on payment processing for your business

  Most business owners loathe payment processing fees. They logically know that paying for merchant services is no different than their customers paying them for services. Yet, after investing a lot of time and money in starting or building a business, the seemingly high cost of credit card equipment and year-to-year increase in fees tends …

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How to avoid merchant account holds or freezes

How to Avoid Merchant Account Holds or Freezes Many merchants do not understand why freezes or holds occur, but these are important topics to understand. Both are for the merchant’s protection, but they can be financially stressful to your business when they occur unexpectedly. Here’s why holds and freezes occur and what you need to do to make sure you …

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Avoid EMV Non-Compliance Fees

Some credit card processing companies are now charging “EMV non-compliance fees”.  For those who don’t know, the acronym EMV refers to the technology embedded in what are commonly called chip cards. Developed originally to increase security for customers when making a “card present” payment at a retailer, the date for merchants to install a chip-enabled credit …

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Five Reasons You Should Upgrade Your Point of Sale System Now

Point of sale systems have come a long way since they were introduced as advanced replacements for cash registers in the 20th century. Modern point of sale (POS) solutions offer more than just the ability to ring up purchases; they integrate multiple functions such as merchant services, inventory control, payment processing, scheduling employee shifts, collecting …

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What Are Blockchain Cryptocurrencies?

  If you’ve been pretending (or not) to understand the blockchain technology conversation percolating around you the past few years but have no real idea how cryptocurrencies like Bitcoin, Etherium, and Litecoin actually work, you’re not alone. There’s a lot of nebulous verbiage of dubious value out there. Can you just tune out and hope …

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Real-Time Payments Network approved! What Is It?

DOJ Approves Creation Of Real-Time Payments Network The DOJ has approved a real-time payment network suggested by two dozen banks who want to provide faster payments to merchants using their merchant services. The DOJ wanted to make sure that this was not a move that would consolidate too much power in too few places and that there is no …

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Online sales boom, Walmart Expects 40% Increase

Walmart is Betting on Stronger Online Sales for 2018 In preparation for its annual investors conference, retail giant Walmart hinted at a future when the company will be a strong competitor to Amazon, the absolute global leader in online sales and ecommerce operations. Investors reacted very positively to the news, which included a projection by …

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Retail isn’t Dying, it’s Evolving

The Retail Industry is Far from Dead For all the talk about how e-commerce has advanced to the point that online shopping has obliterated the brick-and-mortar experience, the evidence cited in this regard is tenuous at best. Those who believe that e-commerce will make shopping mall disappear will often mention the meteoric rise of Amazon …

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Stocks and Bitcoin Battle for Millennials’ Investing Dollars

  Though the high-profit potential of Bitcoin and other cryptocurrencies offers irresistible bait to that powerful under-36 demographic we call millennials, it’s not time to write the stock market obituary just yet. Popular stock market apps have made online trading of stodgy old Wall Street firms seem cool and new again. The truth is that …

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Was I affected by the Equifax data breach? How do I protect myself?

Data Breach after Data Breach The chaos of the Equifax data breach has left nearly every American feeling violated and confused. Hackers stole Social Security Numbers, birthdates, addresses, driver’s license numbers, and credit card numbers. Now they can use this information to rack up charges, open new accounts, steal benefit checks, and more. Secure payment …

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Sonic Drive-In Hit With Major Data Security Breach

Protecting Yourself After the Sonic Drive-In Breach Customers who have recently been to a Sonic Drive-In may want to keep an eye on their debit or credit cards. The company recently reported that there was a breach in their merchant services system that resulted in the theft of debit and credit card information for five …

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Shake Shack Goes Cashless

How and Why Shake Shack is Opening Cashless Burger Joints Just when the world thought buzzers were the most cutting-edge ideas of the food industry, Shake Shack, a burger joint based in New York City, decided to try something different and innovative. They will be opening a cashless Shake Shack New York City at Astor Place …

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UK Bans Surcharges for Credit Card Transactions

Yesterday the U.K.’s Treasury Ministry ruled to forbid surcharges on debit and credit purchases. The ban is to go into effect January of 2018.  In recent years merchants have been imposing surcharges to their customers for using credit or debit cards. They, in essence, were passing along the fees that the merchant would incur from …

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Visa Goes to War Against Cash

It looks like Visa wants to kill cash transactions.  The credit card company announced last week that they are spending $500,000 to get restaurants to move completely cashless.  They say they will give $10k to each of 50 “qualifying restaurants, eateries, cafes, and food trucks” as an incentive to make the transition.   The gift …

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As conglomerate payment processors grow larger will it hurt merchants?

As Amazon.com’s market share grows, retailers are feeling the pressure. They aren’t the only ones. Vantiv’s acquisition of Worldpay is putting the squeeze on payment processing companies in much the same way. On Wednesday Vantiv agreed to pay 7.7 billion pounds ($9.9 billion USD) for Worldpay Group PLC, both payment processing companies. This move will greatly increase Vantiv’s …

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