Small Business

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COVID-19 Payment Trends Are Here to Stay, Says Visa

As we near the one-year anniversary of the pandemic, it’s apparent that the latest payment trends that took place at swift speeds are here to stay. The most common changes businesses are implementing include contactless payments, ‘buy now, pay later’ options, and increased security protection. In short, small and micro businesses need to cater to …

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Installment Plans Gain Traction Among Consumers, Predicted to Grow in 2021

The pandemic has been hard on almost all business owners and consumers across the world. With people losing their jobs and expenses rising, millions of consumers have been going through a financial crisis for the last 10-12 months. Such wide economic gaps are compelling buyers to trim their shopping lists and finding better ways to …

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Lenders Dealing with Emerging PPP Loan Fraud

Last month, a bank in Rhode Island bank was given an application for a $144,050 loan through the Paycheck Protection Program (PPP). PPP is an enormous federal effort that is designated to assist many small businesses that are severely affected by the Coronavirus pandemic. This PPP loan application was made on behalf of a restaurant …

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Protect Your Business from Credit Card Skimmers

Protect Your Business from Credit Card Skimmers Each year, companies sign on to take advantage of merchant services offered for credit card processing. Skimmers are quickly becoming a threat to unsuspecting customers as companies rely more heavily than ever on point of sale services for their businesses. As a merchant, you want to protect your …

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Should you Pay Credit Card Fees or Surcharge Your Customers?

Businesses often face a double-edged sword when accepting credit cards. Credit card processing comes with fees that can eat into your profits, but defraying the cost with a surcharge for shoppers can turn away business. As a business owner, it’s important to decide which option makes sense for your business as a growing number of …

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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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Customer Service: A Big Challenge for Payment Processors

The credit and debit card industry thrives on payment processors and the services they offer; unfortunately, customer support seems to be taking a backseat to other factors for many companies. At Host Merchant Services, we believe there is an unfortunate financial motive at play that explains why this is happening. Consolidation is one of the …

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5 Signs Its Time To Upgrade

Your technology is outdated. Although upgrading your payment hardware every time a fancy new solution arises isn’t necessary, your technology has an expiration date. Since updating to the new iPhone or Android seems like an annual occurrence for most consumers, your business’ technology has the shelf life to be in use a little longer than …

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Counterfeit Fraud Liability

EMV Smart Cards are an inevitability. They are coming, they will be standard, and the United States is going to have to adjust. The major credit card companies, in preparation for changing the standard have instituted a shift in liability. The fraud liability shift goes into effect on October 1, 2015 for Visa, MasterCard, American …

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VeriFone Solution For Unattended Payments

Merchants who want to offer convenience to customers by providing self-service options often struggle with the dilemma of receiving payments without being in the physical location of their customers. Unattended payment solutions offers merchant services to collect payments securely from customers. VeriFone UX Solutions For Merchant Services VeriFone recently launched UX Solutions for unattended payments. …

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The Innovation Act

The Innovation Act – Protecting Businesses from Harmful Patent Litigation Speed and innovation have become crucial business tools of the communications age, but litigious patent trolls stifle innovation by filing questionable patent-infringement lawsuits. The Innovation Act of 2013 seeks to reduce the number of frivolous lawsuits and unsupported complaints by requiring greater responsibility from people …

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Swipe Fee Suit Ongoing After Fairness Hearing

A $7.25 billion settlement relating to credit card interchange fees continues to encounter stiff opposition from a number of major retailers and several significant retail trade associations. Case History The antitrust case against Visa, MasterCard and several issuing banks stemmed from a dispute relating to the percentage of credit card transaction fees that retailers must …

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