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The Future of Card Readers

The Future of Card Readers

Not long ago, businesses were processing credit cards with a carbon copy imprinter. Since then, the payment processing industry has taken major strides in advancing its technology, and it’s only changing quicker these days. The combination of smarter card reader technology and crafty fraud tactics means more shifts in credit card processing equipment for businesses to consider. Here, we outline three trends for businesses to keep in mind as they invest in newer (and more expensive) card readers: Card Readers Must Be EMV Capable By now it's likely you're aware that mag-stripe cards are phasing out and EMV-chip cards…

What Are Payment Processors?

What Are Payment Processors?

Payment Processors are the technical glue in the transmission of credit card transactions. They maintain the computer network between Merchant Account Providers and the banks, and facilitate communication between these providers. Despite being a blanket term for all parties involved in payments, Payment Processors are actually one of many providers supplying a unique service in the payment process. Payment Processors’ Contribution to the Payment Process It’s important to note that processors do not directly work or interact with businesses during the payment process. They are true “middlemen” and are chosen by Merchant Service Providers’ banks. Let’s breakdown where…

Why Your EMV Card Reader Should Take Contactless Payments

Why Your EMV Card Reader Should Take Contactless Payments

In 2015, the United States saw a major shift in consumer payment methods from traditional magstripe cards to EMV-chip cards. This transition is referred to as the EMV liability shift. With the majority of U.S. consumers now paying with chip cards, the next wave of technology is about to roll out: contactless payments. In 2017, major card brands started issuing EMV-contactless cards to consumers in anticipation of this upcoming payment-culture change. Businesses processing credit cards should be prepared for this change as more and more consumers opt for EMV contactless payments. Before we jump into the why, let’s…

How to Have a Successful Year in 2019

How to Have a Successful Year in 2019

By this point, you may be weary of the year-end listicle. It seems there’s a way to evaluate every aspect of your life around this time of year, along with societal pressure to do so. But when it comes to your business, it isn’t OK to just go with the status quo. That’s because your business’s health may be a major determinant of your own financial health and subsequent well-being. The vitality of your business can dictate whether you’re open or closed by next year. We recommend asking yourself the following eight questions to properly…