After EMV – Was it Successful? The introduction of chip technology in credit cards in the United States was designed to increase information security and reduce credit card fraud. The US EMV (Europay, Mastercard, Visa) liability shift in 2015 was meant to encourage merchants to adopt the technology quickly and it means that merchants or […]
After EMV – Was it Successful? Read More »
In April, credit card signatures will become a thing of the past. American Express, Discover, Visa, and Mastercard have all announced they will end the signature requirement for in-store credit card machine purchases. For Discover, Mastercard, and American Express, the end date was April 13. Visa will end the signature requirement later in the month.
The End of Required Credit Card Signatures Read More »
Surcharge vs Cash Discount – How They Differ There has been a lot of talk about cash discount programs and surcharging recently. Though these two payment processing programs have similarities they are not the same. Here is how the two differ. What are credit card surcharges? A credit card surcharge is a fee that is assessed
Surcharge vs Cash Discount – What’s the Difference? Read More »
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
Visa Goes to War Against Cash Read More »
Membership may have its privileges, but American Express is finding out that members of the Millennial Generation do not consider feeling snooty as a privilege. As a credit card and as a symbol of refinement by means of wealth, American Express has long been associated with the moneyed class and the jet set, and this
Pretentious Amex Branding Does Not Entice Millennials Read More »
It seems that the U.S. Food and Drug Administration (FDA) is finally beginning to crack down on the growing vape and e-cig industry, after it announced last year that all e-cigarettes and other vaping products will now be regulated in the same way as cigarettes are under the 2007 Family Smoking Prevention & Tobacco Control
New FDA Regulations Affect Online Vape Credit Card Processing Read More »
Mobile payments are still a new development for most consumers. They are clearly marked on most retail payment terminals, and most banking apps offer the ability to make transfers and deposits with just a few taps. However, most people still slide their card, reluctantly slip it into the chip reader or hop on a computer
Older Millennials Are More Likely to Use Mobile Payments Read More »
The year 2016 was not exactly a breakthrough period for commercial cards and other payment tools available to the competitive business-to-business sector. According to research recently published by the Professional Association for the Commercial Card and Payment Industry, B2B credit cards and virtual cards are gaining corporate acceptance, but they are not quite ready to
Room for Improvement: Commercial Cards in 2017 Read More »
For internet giant Yahoo, the year 2016 cannot be over soon enough. The legendary internet services portal and search engine has been losing significant market share over the years, but two major security issues in 2016 may have compromised its future. Yahoo has been involved in talks with American telecommunications giant Verizon about a possible
The Yahoo Data Breach and Its Dire Consequences Read More »
One of the biggest problems for merchants accepting credit cards is not fraudulent transactions, but rather false declines. Certainly, credit card fraud is costly, but it’s estimated that merchants lose $118 billion due to credit card declines where the transaction is genuine and the customer is not over their limit. It’s estimated that 15% of
MasterCard Using Artificial Intelligence to Attack False Declines Read More »
Ever since its beginnings in the 1980s, Verifone has been known as a major global provider of point-of-sale (POS) technology and innovative solutions for the merchant payments industry. After three decades of being a dominant market player, Verifone is more than just a provider of credit card terminals; the company is seen as a respected
Verifone CEO Comments on the Future of Payments Read More »
Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply
Fraud Costs Cut in Half Since the Introduction of EMV Read More »
Modern payment methods in the United States range from EMV chip cards to digital wallets to bitcoin; however, there’s one traditional form of payment that has managed to survive the shift towards digital. Use of Paper Checks by American Business Entities The use of paper checks by American business entities and individuals remains uncomfortably high
More Businesses Than You Think Still Pay By Check Read More »
Over the last couple of years, more retailers and providers of merchant services in the United States have been settling into the new Europay, MasterCard and Visa (EMV) credit card processing system. As EMV acceptance expands, business owners will start to see more technology upgrades offered by through their merchant services providers. One current quirk
Speeding up Chip Card Checkout Times with Visa Read More »
Credit card processors and merchants in the U.S. are starting to experience the true implications of the enormous switch to the EMV system, which stands for Europay, MasterCard and Visa. In the wake of several terrible data breaches by hackers who went after major retailers such as Target and Home Depot, the payments industry has
Visa’s Take on EMV Liability & Chargebacks Read More »
Millions of Costco members are finally ready to get rid of their American Express credit cards (aka Amex cards) to shop at Costco, the giant Seattle based Wholesale warehouse. Costco has about 81 million members worldwide, and the company has recently started accepting Visa cards instead of Amex cards. The move is a major advantage
Costco Switches from American Express to Visa Read More »
It’s the call that no one working in merchant services wants to get: There has been a data breach and the security of thousands of customers’ credit cards is on the line. While credit card processing makes shopping easier, especially online shopping, it isn’t without its risks. And make no mistake about it; a data
Data Breaches Remain a Risk for Merchants and Banks Read More »
If you’re still using computers and other hardware from a decade ago, it’s probably time for an upgrade. The technology of today is significantly more powerful and efficient than what was available 10 years ago, so upgrading your equipment can help make sure you keep up with the times. Signs Its Time To Upgrade Here
5 Signs Its Time To Upgrade [2023 Update] Read More »