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Contactless payments have surged since 2020, initially spurred by consumers’ concerns about the spread of germs when the COVID-19 pandemic hit. Turns out, many people found “tap to pay” to be more convenient than swiping or inserting a card to make a payment, so contactless payments have taken hold. Visa reported earlier this year that nearly 20 percent of all in-person credit or debit card transactions in the U.S. — and 45% in New York City — are now made by tapping a card or using a digital wallet such as Apple Pay or Google Pay on an NFC payment terminal or other contactless acceptance devices, such as those in train and subway stations.READ MORE
PayJunction swept up during the 2022 Spring Awards Season, taking home two Silver and one Gold ABA Stevie Awards and a Gold Titan Award. Every employee of PayJunction shares strong core values focused on meeting the needs of customers and valuing long-term relationships over short-term profits.READ MORE
The four card brands—American Express, Discover, Mastercard and Visa—assess Interchange fees on card payments to compensate the card-issuing banks for processing transactions. Fees are typically reviewed and adjusted once or twice a year, in April and October. In 2020, due to the COVID-19 pandemic, the card brands suspended most practices so as not to further burden businesses hit with closures, labor, supply chain issues and other challenges.READ MORE
Go ahead, open your wallet. Chances are that your credit and debit cards feature a square “chip” on the front that gets inserted into an EMV Card Reader to make a payment. It may also have a symbol that resembles a “signal” that is “tapped” on an EMV Card Reader to make a payment. And it likely still has a magnetic strip on the back that is swiped through a payment terminal that is not equipped to read EMV chip cards.READ MORE
How to Become PCI Compliant and Avoid Unethical PCI Fees The card brands work together to set security standards that ensure credit card data remains safe and out of the hands of fraudsters. Every company that processes, stores or transmits credit card information—issuers, businesses, gateways, processors—must maintain a secure environment. Read on to learn everything you need to know to help you protect data and adhere to PCI DSS standards. We’ve included a handy PCI DSS Compliance Checklist, a detailed explanation of the 12 steps that entail PCI DSS Compliance, and information about how to attest to security practices in your business to validate compliance.READ MORE
What Is a Virtual Terminal? A Merchant Services Virtual Terminal turns any browser-connected device – desktop, laptop, tablet or smartphone – into a cloud-based credit card terminal. Unlike a stand-alone credit card terminal and paper receipts, a Virtual Terminal allows you to accept payments from customers in person, over the phone, online and via mailed or electronic invoices. Transaction details are paired with customer information and stored digitally, giving you quick access to payment history. And you can access records and conduct business from anywhere: in the office, at home and on the go.READ MORE