Real solutions to streamline your business.
Featured Resource: Assess Your
Merchant Statements
Credit card fraud is bad for everyone but the fraudster. As a consumer, you might spot fraudulent transactions on your credit card statement that send you into a panic. You’re anxious to receive financial reimbursement, safeguard your identity and determine how your payment information was obtained.
Christina Lavingia
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There’s not one right way to launch a business venture. Some believe the right advice and mentorship is crucial; others argue advice is often overly influenced by particular circumstances. When asked whether they wish they’d invested more time or money in their businesses, 60 percent of business owners said money according to a survey by The Alternative Board; however, monitoring cash flow is vital to survival. There are nuances given the industry, financial circumstances and market conditions that render a one-size-fits-all approach impractical.
Christina Lavingia
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Sen. Richard J. Durbin’s (D-Ill.) introduction of Regulation II as a last-minute addition to the Dodd-Frank Wall Street Reform and Consumer Protection Act was well-intentioned and logical from a payments perspective. Interchange — the wholesale cost to run a credit or debit card transaction — is set by the card brands (Visa, MasterCard, Discover and Amex). Interchange should be proportional to the risk of a given transaction, however, businesses were paying upwards of a 1% to 3% Interchange for swiped debit card transactions — one of the least risky transaction types — before the Durbin Amendment was passed. With a card-present debit transaction, the cardholder can be verified and sufficient funds confirmed before the transaction is processed. Credit isn’t even involved.
Christina Lavingia
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PayJunction provides business owners with helpful features like cards on file and electronic signature capture. These features go above and beyond the old-school technology many businesses still use, but they naturally lead business owners to ask, “How is this secure?” They may also ask themselves, "What is PCI compliance?"
Christina Lavingia
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Retailers saw their biggest Cyber Monday ever in 2016, according to Forbes. Your rebuttal might be, “But that’s an online shopping holiday! How large is electronic commerce (e-commerce in shorthand) overall?”
Christina Lavingia
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If you run a multi-location or multi-department business, there’s a chance you have multiple bank accounts. This can keep your finances tidy and might even be necessary. If your business has multiple locations, for instance, it might be easier to manage batches and reconcile bank accounts separately. Similarly, businesses managing multiple brands, like auto dealerships, might need to separate deposits by manufacturer. Likewise, legal firms often need multiple merchant accounts to manage client payments during trial.
Christina Lavingia
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