All Posts by Ursula Librizzi

The True Cost of Printed Receipts

The True Cost of Printed Receipts

If you’re like most business owners, you store every printed receipt from your credit card terminal and provide copies to your customers. It may be a routine you consider a best practice to protect your business, but the cost to maintain and store printed receipts significantly eats into your profits. Your customers have up to 18 months to dispute charges on their credit card bills. So you store signed, printed receipts, most likely past the 18 month time frame, to protect your business from the possibility of a chargeback dispute. This practice is in your best interest, but the…

How to Get an Online Merchant Account

How to Get an Online Merchant Account

With the exception of choosing a credit card terminal, getting an online merchant account is no different from setting up a standard merchant account for brick-and-mortar use. The process is exactly the same, comprised of an application process and the submission of supporting documents. Acquiring an online merchant account is one thing, but its components and how they fit into the overall structure of online processing differ significantly from those related to a standard merchant account. Before we jump into the disparities, let’s do a quick review of the mechanics behind online merchant account processing. How Online Merchant Accounts…

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…