As credit card, or EMV, chips become more common, so too are the credit card terminals that accept them. According to Visa, 71%, or 511.1 million, of its U.S.-based credit and debit cards now have chips, a figure that represents more than a doubling of chip cards over a three-year period. Across the U.S., 3.1 million – roughly two thirds of – merchants are now EMV-enabled. Even so, credit card chip readers are not a legal requirement for merchants to accept EMV cards (with the exception of merchants who wish to accept contactless payment methods. See below)…
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For most online shoppers today, the internet has become the go-to destination for everything from clothes to groceries. But while online retail has become commonplace, it remains an intricate technology operation that is vulnerable to attack. Cybercriminals often target e-commerce websites because they know how much sensitive information, including credit card numbers, flow through them on a daily basis. If you’re running an e-commerce store, it's pivotal to make security a top priority in all technology decisions. This article dives into seven specific best practices that you should follow in order to ensure that your customers and their data…
Online credit card processing refers to card-not-present payments that are completed on an e-commerce website via a Payment Gateway. The gateway is either provided by or integrated with a Merchant Service Provider. To be successful in online credit card processing, there are certain services and tools that are required, while others are nice to have. Learn about the providers involved, requirements and how you can simplify back-end e-commerce operations. Online Credit Card Processing Setup Before you can start online credit card processing, you need to set up the following: Website Hosting: The technology and services needed for your website to…
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From the outside, it might seem that processing an e-commerce transaction only requires three things: A debit or credit card; The credit card issuing bank, which approves or declines the transaction, and later releases the funds; The Payment Processor, used by the business’s bank, which receives the funds after a transaction has cleared and deposits the money into the business’s account. However, there’s a crucial – but silent – party that is the key to all of the communications that result in a successful transaction: a Payment Gateway. A Payment Gateway acts as a middleman, transferring cardholder data to…
If you’re shopping for a new credit card terminal, it’s easy to feel overwhelmed by your options. Make the wrong choice and you could be in the same position in a year’s time. Changes in payment technology and consumer trends are unpredictable, but some credit card terminals are better suited for the future than others. Without over-complicating the matter with makes and models, we’ll focus simply on the credit card terminal's physical orientation. There are five compelling reasons why you should opt for a customer-facing terminal over a traditional cashier-facing one. The Imminent Rise of Chip…